As known, Blockchain is undoubtedly a revolutionary concept that arrives as a way to disrupt the financial industry.
In the quest for creating a much more secure and private channel in managing finances on the internet, blockchain has thus provided many with itself as the best solution.
Experimentation continues with this technology and more opportunities are now making themselves known.
Increasingly, more and more people are witnessing the emergence of blockchain platforms supporting the development of applications based on Blockchain.
Just like any other development platform, the right blockchain system allows businesses to experiment in data management to transaction processing (10 Blockchain applications).
For those who are looking to enter the blockchain sector here is a compilation of industries and platforms under the guidance and umbrella of Blockchain.
The healthcare industry
With patients being the central point of healthcare, they have the right to accurate and precise information, diagnosis, and healthcare.
This is in fact a matter of life and death for both parties. Security and privacy of health and patient data are of paramount importance to the industry.
Why? Because it helps in easy tracking of prescription drugs and medicine via serial and batch numbers.
Hospitals these days have now moved away from paper in terms of keeping records and are now using blockchain for storing patient data via confidential means.
Then patients are provided with a secure key to access these records so they can view data and info easily. Diagnoses are also stored for easy tracking of patient data.
Supply chain management
Blockchain can increase the overall efficiency of the supply chain by providing accurate identification of the location of goods in transport and accurate identification in movement in the supply chain.
Blockchain also helps reduce wastage of paper, prevent unnecessary losses, and monitor product quality during and after production.
Despite being one of the youngest environments for blockchain in the market today, IOTA is easily considered to be among the most exciting.
IOTA took to the blockchain landscape with a mission to essentially change the fashion people access distributed ledger technologies.
The outcome is hence a much more secure environment for the exchange of values and data without fees.
Interestingly, IOTA does not actually use any chains or blocks because it is powered by its own unique technology.
IOTA offers users the power to leverage the strength of IoT for improved decision-making in business. There is also a central environment for upgrading and managing your data.
Teams can use IOTA for the creation of digital twins, developing smart cities, and related technologies. Through all this, they will be able to add more security and privacy to their landscape Ask Mr. Robot
It was created by JP Morgan Chase and is an enterprise-grade version of the Ethereum platform. Surprisingly, it is another contender on the list.
Quorum modifies the core of the Ethereum structure in offering something which fasts and much more effective for granting permissions.
Quorum is excellent when it comes to handling applications requiring a lot of processing speed. It is also the perfect option for those who are looking to manage private transactions.
Other than that, it comes with a complete service support package and a development platform best suited for customization.
It is a public blockchain platform developed by Coinprism. This powerful environment helps companies create a worthwhile system for experimentation.
Anyone can spin up a new instance of blockchain on the environment within seconds. Additionally, end-users can exchange values on the ledger according to rules identified by the blockchain’s administrator.
Just like with Bitcoin and other cryptocurrencies, people can track every transaction taking place by using their ledger. With OpenChain’s environment free from miners, the transactions do not come with worrisome costs either.
Hyperledger Sawtooth is a blockchain offering and a byproduct of the Linux foundation. IBM and Digital Asset did contribute some technology to this environment though.
The platform is a modular enterprise-grade one where experts can create, deploy, and execute distributed ledgers easily. Here, it is easy to enable digital records without central authorities.
Sawtooth integrates easily with trusted execution environments and offers plenty of opportunities in extending functionality.
The modular architecture separates the application domain and core system, which allows the use of smart contracts for specifying rules for specific applications without the need to understand the complete core system design.