Blockchain: 3 innovative applications

 In Big Data, Security

Months ago we wrote about some of the blockchain technology applications in the financial field. Besides cryptocurrencies, this technology has proved itself useful by guaranteeing high security! In this article, we’ll discuss 3 interesting blockchain applications that keep gaining recognition.

 

1. Crowdfunding

When it comes to financial transactions the advantages of blockchain technology are clear, for example, both frauds and human errors are drastically reduced and data is fully tracked! But in the crowdfunding field transactions are not the most relevant part of the equation. Now startup founders can find investors more easily, with a single pitch; and investors, on the other side, feel safer when buying or exchanging their stocks.

The main fear that potential investors face is the risk to freeze the funds invested in startup projects for a long period of time. Blockchain guarantees trading safety and allows investors to sell their quotes back to obtain liquid assets.

 

2. Food

Knowing the origin of the food we eat is something people are paying more attention to every day. Past years diseases (such as “Mad Cow” disease or aviarian influenza) made us reevaluate the importance of tracing the origin and quality of food. Imagine there is an epidemic outbreak and you must quickly find the infected source. Blockchain technology allows you to execute this delicate task in almost no time!

Walmart and IBM have partnered to put in practice a system that allows the quick traceability of items. The two companies are collaborating to identify the origin and measure quality of the food sold by the retailer. Tracking operations that usually required up to 2 weeks now is done in 2 seconds!

 

3. Cloud

The Cloud changed the way we manage information. The availability of space and applications is incredible but there are multiple risks: hackers and IT disasters threaten everyone’s data and privacy. When third parties store your information, you often don’t have the certainty of a correct protection and encryption!

Blockchain technology is a reliable solution to keep your Cloud safe. Files on the general ledger aren’t collected in a single location so there isn’t the risk of data theft or loss. The access to information is restricted and controlled through an extremely safe encryption key and, without it, you can’t access the system.

 

The blockchain technology future is promising. Its advantages on security matters are significant, making it appealing to multiple fields!

And you? Did you make sure your IT system is secured? Request a consultation now!

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