Practical use of blockchain technology

Hi there!

I want to start my blog from the really important question. How blockchcain can be implemented in everyday life? How people, who even didn't heard about Bitcoin, can use blockchain?

At first sight, cryptocurrency looks like money from the air, something unreliable. But you should know that at the core of this you will find real technology, which can make our lives better.

To identify what it is we’ll just split blockchain definition into two words: block and chain. It means that these blocks compile one big network, which stores information.

In common understanding database - a special place, where we can store information. Place, not places. But do you remember the old proverb “don't put all your eggs in one basket”? In blockchain information isn’t kept in one place, it is splited between many other servers.

Also, it is saved from corruption. Each block has own hash - it is a string of letters and numbers, unique for each block, like a signature.

If Hash #1 were changed - the next blocks would report about this problem.

Ok, now it’s clear that blockchain - safe way to store information. Does it make any sense? How could it be useful even for people, who aren't in tech?

List of spheres for blockchain use cases huge, but I’ll mention only a few of them, most useful for people:

· voting

· finance

· digital identity

· government

· healthcare

Voting. Each of you has visited voting campaigns at least once, didn’t you? With voting on the blockchain, nobody won’t be able to change your choice because it’s already written in the blockchain. And you remember that after the change in one of the previous block next blocks will report about an error.

Finance. Let’s imagine that you go to a foreign country to earn some money and you want to send your salary to family. How to do it? Go to the bank – waste of time and money. With blockchain, you can do it in 3-5 minutes and without any commission!

Also, with a decreasing number of employees as mediators, we’ll decrease the number of errors and mistakes too.

Digital identity. Digital identity is the equivalent to the real identity of a person. As with finance, it needs third-party persons, who can prove your identity. Digital identity will save your private information and time.

Government. In summary, use of blockchain in government could help to make it more transparent and effective. Each use of budget money will be recorded in the blockchain.

Healthcare. Firstly, the decentralized database could help to keep the whole information about the health of the exact person. How long more should we save big amounts of papers with a record of previous visits? And more often our medical card can be lost in the hospital. With the information in the blockchain doctors will have the full picture of the health, what’s improve the efficiency of treatment.

Sure, all these words can sound like a fairytale, who wants to make government, voting or finance fairer?

But even electricity considered as something crazy when it was invented. The more people learn about this technology, the faster we could make our lives better.

Please feel free to leave your comments and discuss topic!