What Are the Applications and Use Cases of Blockchains?

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Most of the people heard about blockchain technology for the first time when Bitcoin was invented by mysterious person Satoshi Nakamoto. Many people think blockchain is just for the Cryptocurrency creation. But, it has many real life applications. Cryptocurrency generation is just a small part of the blockchain technology. This technology is based on digital decentralized and distributed ledgers which are mostly being used for cryptocurrency generation. However, this function of the blockchain technology is under the radars of the governments who don’t like decentralization to proliferate.

Blockchain is the technology of the future. There are many uses and applications of this innovative technology. Governments can use this technology to keep land records in the immutable ledgers that will eliminate all chances of fraud and falsification. This futuristic technology can be used in various fields like monitoring and conducting of payment transfer, digital money and currency handling, monitoring supply chains, copyright and royalty protection, for creating digital IDs, data sharing, food safety, digital voting, data backup, data mining, medical record-keeping, tax regulations and collection, monitoring arms and their uses, monitoring of flights and ships, etc. This technology can be use in crime tracking, criminal tracing and crime investigations. It can help the governments to control crime and maintain law and order. It will also help governments to detect foreigners and illegal migrants.

Hence, this technology has several applications, some of which are yet to be identified. 

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