Skip to main content

What Changes Blockchain Technology Can Bring In Future?

You might have heard about blockchain technology. We all know that this technology has great contribution in cryptocurrency development, but now this technology is being utilized by various industries for dissimilar purposes. Let's understand what new this technology is bringing to enthral people.


What is blockchain technology? 

Actually, this technology is based on an exquisite methodology including connected blocks of data locked with a hash.  Am I sounding a bit incomprehensible? Let me explain.

Succinctly, it is considered as a distributed chain of blocks, where a block is a collection of all essential data and the chain denotes the connection pattern among these blocks. In more simple language, these blocks are linked with each other, thus it is known as chain of blocks. Though, the interesting point is what facilitates this connection? and why this connection is robust and invincible? 

Well! the answer is crypto hash, that is also known as time stamp. This crypto hash sticks with every block of data and keeps data safe, even when the data is in a distributed manner and modifications can be made in real-time.  So, now you would have got the idea that what is this technology. 

Furthermore, we all know that the links of this technology are associated with bitcoins, but many of us have this belief that its use is limited to cryptocurrencies only. But this is not true, its utilization is growing and it is being embraced for many processes across a variety of industries. This technology has the ability to do many things. Let's find out what else this technology can do. 

Supply chain Industry

In the current scenarios, where supply chain industry is spread over a larger area (national and global), there is a lack of transparency in this system. As manufacturing is global, it is hard for buyers to know the actual value of products. Blockchain technology offers a distributed ledger system that can be used for the exchange of data, agreements, tracking, and payments. In this system, every transaction will get recorded on a block whose multiple copies would be shared on multiple nodes (computers), it serves high-grade transparency, as everyone on the blockchain system can track the data related to a particular product. Moreover, the data is available in a secured channel, since every block is available in a collaboration with each other.  

Another property that makes it astounding is the facility of 'consensus'. Actually, this system accompanies a single version of ledger throughout all entities, so there are no chances of dispute in the matter of transaction. For buyers, this property is a plus point, as they can check who is the real owner of the asset. Other than these, nobody can remove the records on this channel so it is not possible to break the transparency in supply chain. Ultimately, this technology can improve the accuracy and efficiency of supply chain. 

Food Industry 

You might be thinking that how can blockchain help in food production? Well, this is not about food production, it is solely dedicated to different tasks that take place after production. Let's get a closer look at the ways, it can help in food industry. 

Experts are trying to improve different aspects of this sector, and one of them is food recalls. Today, foodborne illness is very common, and for companies, it is very hard to find contaminated packages from farm to stores. With the track and tracing property of blockchain, it is very easy to find out such packages. Along with this, the contamination report can be shared with all suppliers and can prevent damage.  Such systems are very helpful for both restaurants and grocery stores, as when an outbreak of problem occurs, they can gather all the information from the source of food till the end delivery. It helps them in taking required actions. 

Except it, this can also enhance the labeling system and can prompt the weeding out of companies who make false claim or misrepresent the origin of products with the help of decentralize tracking system. Moreover, farmers and producers can view the commodity price and market data in real time. With this, they can take part in business more competitively and can be more productive. 

Voting 

If you think that blockchain system is beneficial for industries that handle heavy supply chains including buying and selling, then you are mistaking again. As this system can be used in voting, you should stop underestimate its flair. 
 
Shake off all your doubts,  as this technology can integrate higher level integrity and transparency in elections. It can help in resolving various issues in the election by streamlining the process of vote counting. Moreover, as it takes the responsibility to count all votes, the cost of conducting election can be reduced. Here are some advantages that this technology can offer in the election system.

    * Voters can check that their vote was cast precisely and figure out tampering. 

    * The election process would be more transparent as governments and independent parties can verify the results stored on the blockchain.  

    * Being a decentralized database, blockchain system incorporates high-grade security. It can resist any hacking attempt that can be made by intruders to alter the voting result. 

You should know that blockchain is an immutable ledger, where nothing can be altered. So, it is hard to change the votes and establish fraudulent data.  

Except these, this technology is proving digital identities and preventing frauds in various aspects. Besides, it is being used extensively in payment industry, where it is integrating unmatched security in transactions. Its utilization in trades of bonds, stocks, and equity is perfect example, as it is fusing unmatched transparency. 

Now you would have understood how this technology is disruptive. At Techugo, we are using this technology for creating great mobile applications. We understand that excellence is a true jewel and this technology is allowing us to fuse unmatched excellence in every application. Owing to this, we are considered as a leading mobile app development company. Get our assistance to secure a high-grade blockchain based mobile application, to increase productivity and efficiency of your business. For more information. get in touch with us. 


Comments

Post a Comment

Informations From: Omnipotent

Popular posts from this blog

The Painting of Destiny

"Are you sure of this, Navan?" The old pirate stared at King Mannas' chief merchant. However, his bright emerald green eyes sparkled with laughter. "The information came from Daoud, one of my former crew members, when I was ravaging the coastal villages of Vyrone." Navan smiled at the expression crossing Gerrod's face, whose family had fled from one of these villages. The Iron Falcon was a legend and parents had always used the threat of its crew and its flaming-haired captain to scare naughty children into sleeping and behaving differently. Gerrod quickly recovered and smiled. "Then he must be a man to be trusted, indeed." "Ah!" cried Navan. "Daoud will take the coin from the mouth of a dead man while it is still warm. I trust him only because he knows the fate of him who lies to me." I may have made him captain when I decided to infiltrate King Mannas' court, but he still knows who is in charge. "We must tell ...
Post a Comment
Read more

Good Morning America is a popular

Good Morning America is a popular morning news show that airs on ABC. It has been a staple in American households since its debut in 1975. The show covers a wide range of topics including news, entertainment, lifestyle, and pop culture. With its team of talented hosts and reporters, Good Morning America provides its viewers with the latest updates on current events and trending stories. One of the things that sets Good Morning America apart from other morning shows is its lively and energetic atmosphere. The hosts, including Robin Roberts, George Stephanopoulos, Michael Strahan, and Lara Spencer, bring a sense of fun and camaraderie to the show. They engage with their audience and each other in a way that feels genuine and relatable. In addition to its engaging hosts, Good Morning America also features a variety of segments that cater to a diverse audience. From cooking demos and fashion tips to celebrity interviews and human interest stories, the show offers something for everyone. Wh...
Post a Comment
Read more

The liz hatton

The liz hatton is a unique piece of headwear that has been gaining popularity in recent years. This hat is characterized by its wide brim and low crown, which gives it a distinctive and fashionable look. The liz hatton is often made of materials such as wool, felt, or straw, making it a versatile accessory that can be worn in various seasons. One of the key features of the liz hatton is its versatility. This hat can be dressed up or down, making it suitable for a range of occasions. Whether you're going for a casual look or a more formal outfit, the liz hatton can easily complement your ensemble. Additionally, the wide brim of the hat provides excellent sun protection, making it ideal for outdoor activities such as picnics or garden parties. In terms of style, the liz hatton can be compared to other types of hats such as the fedora or the boater. While these hats may have similar silhouettes, the liz hatton stands out for its unique shape and design. The low crown and wide brim of ...
Post a Comment
Read more

  • Siapa Itu ?

    Engkau Yang Duduk Di Samping Kanan tuhan Allahku Engkau Yang Bertanya Kepada Dia "Siapa Itu ?" Buat hati ini bertanya selalu apakah maksudnya ini dan itu? Aku Tak mengerti,Aku Tak Tahu...? Namun Ada Dua hal kemungkinan yang muncul Dalam Benakku Apakah Kau Tak mengenal Aku ? Apakah Engkau... Readmore

  • Gelap di Awan Gelap

    Kesendirianku, Kini aku nampak Berwarna Gelap Di Awan Yang Gelap Tanpa Kau Si Awan Putih Pencerah Langit Yang biru Sinar Mentari Tak Nampak Lagi Kegelapan Awan Menutupi Langit-langit Terangpun kini menjadi Gelap Sebab Seberkas Cahaya Telah Sirna Di Makan Oleh Naungan Kegelapan Yang Mengg... Readmore

  • Ya Allahku Engkau Benar Ada Yang belum Aku Beritakan Kepada Mereka Yang Percaya Akan Engkau

    Ya Allahku Engkau Benar Ada Yang belum Aku Beritakan Kepada Mereka Yang Percaya Akan Engkau,Bahwa benar aku telah mendapati mimpi,Bahwa Suaramu datang memerintahkan aku untuk membeli makanan di atas,,,!!!! Namun Yang terjadi ketika aku naik ke atas,aku melihat sebuah pintu yang terbuka,dengan rasa ... Readmore

  • Semua Yang Datang Dalam Nama Tuhan Tidak Akan Di Permalukan

    "Semua Yang Datang Dalam Nama Tuhan Tidak Akan Di Permalukan". Aku Dapati Kata ini,Ketika Aku Sedang Di Doakan Maju Ke Depan Di Doakan oleh Pendoa.Ketika itu Suara itu Muncul Dalam pikiran Aku.Dan Sampai kini Aku Masih Dalam perenungan Apakah Maksudnya Kata itu ? Ketidaktahuanku meliputi Aku,Dalam ... Readmore

  • G

    Aku ingin Di Pencarian G No Satu Di Pencarian G Aku No Satu Senangnya Dapat No Satu Semua Di Pencarian G Namun Sulit,Banyak pula Yang ingin Di Pencarian G No Satu Sepertinya Di Pencarian G No Satu Adalah Yang Terbesar Saja Tapi Kadang Kala Ku Cari Cari Tidak Pula Di Pencarian G No Satu Mimp... Readmore

  • Puisi : Mengapa Suaramu Hilang Penghiburku ?

    Aku ingin Sudahi Kau datang hiburkanku Aku jenuh dan lelah Kau hampiriku,hiburkanku Aku gundah dan gelisah Kau temui aku,tenangkan aku Dengan Suaramu Aku memuji Ikutkan Suaramu memuji Allahku hiburkanku dengan sukacita luap girangku,Kurasakan Meledak-ledak Dengar Suaramu Bahagiakanku ... Readmore

  • Puisi : Aku Bagaikan Ikan Paus Yang Terdampar Di Daratan

    Aku Bagaikan Ikan Paus Yang Terdampar Di Daratan Akhiri Saja Aku ini Akhiri saja Aku yang tak berdaya ini Daya upayaku tak mampukan aku Kembali ke lautan lepas Kini sirip-siripku tak berdaya lagi Walau Kau bantu aku kembali ke Lautan Aku tak mampu Arungi Lautan Tak mampu bergerak Apala... Readmore

  • Puisi : Ketika Senja Tiba Aku Merenungkan

    Ketika Senja Tiba Aku Merenungkan Kegelapan tiba,kan selimuti malam Apa Yang kan kulakukan,Aku butuh Terang Saat Gelap datang sinari dunia malam Penerangku,Aku mencarimu,Aku membutuhkanmu Ku Dapati Kaulah Tuhanku,Terangi Gelap malamku Agar Aku dapat lakukan sesuatu,di saat gelap,di saat m... Readmore

  • Puisi Khayalanku Andai kau Terima Cintaku

    Andai aku tahu isi hatimu Andai aku mengerti kau cinta aku khayalanku andai kau terima cintaku namun aku tak tahu,aku ragu ku tak lihat dirimu ku tak jumpai dirimu sebuah tanda,sebuah responmu kau nyatakan dirimu biasa saja aku jadi tak tahu aku tak mengerti  ku coba terus dan te... Readmore

  • Puisi :Dalam Diam Mencintaimu

    Diam ku,Aku Rasa Diam ku,Aku terbayang Diam ku,Aku terpana Di Dalam Diam Aku Mencintaimu Suara hati tak mampu berkata Kata Cinta Aku Tersembunyikan Mata memandang,Namun Aku Tak berdaya Apalah Daya,Dalam Diam Aku Mencintai Kamu Sungguh Hati Tak Mampu ungkapkan Hanya Mengagumi keindahan... Readmore