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lindang56
Different areas where the Blockchain Technology can be applied are

Banking Sector
Financial Institutes
Insurance Sectors
Media and Entertainment Sector
Government and Public Sector
Healthcare and Life science sector
Retail and E Commerce Sector
Automotive Sector and more
Why Blockchain?
There are MANY features that makes a Blockchain different from all other data structures in Market Right Now. There are no centralised databases in a Blockchain. No one individual or party in the system has the power to modify or tamper with the data.


Greater transparency
Enhanced security
Improved traceability
Increased efficiency and speed
Reduced costs
Decentralized



Blockchain has the potential to reduce cyber risks by offering identity authentication through a visible ledger.
Car rental agencies could use smart contracts that automatically allow rentals when payment received and insurance information is confirmed through a Blockchain record.
Small businesses could use blockchain to create trusted trading platforms among themselves.
4. Blockchain could potentially help bring robustness and transparency to the post-trade environment.


5. A bank could pay the supplier instantly over the Internet.


6. Nasdaq will launch blockchain-enabled digital ledger technology that will be used to expand and enhance the equity management capabilities offered by its Nasdaq Private Market platform.


7. Blockchain will be adopted by central banks and cryptographically secured currencies will become widely used.


8. Blockchain technology can be applied and revolutionize many many sectors.


How does it work?
Blockchain works on three technologies:


Private key cryptography
A decentralized network
An incentive to service the network
Once a transaction happens on a blockchain it sends it to a decentralized network of nodes Chandler Jones Hat , in the chronological order in which transactions occurred. The network鈥檚 algorithm ensures that each transaction reaches to every node available on the network.


There are several thousand nodes that make up the blockchain network. Once the majority of nodes reaches to the decision that all the transactions which were recently done are unique then the same transactions are cryptographically sealed and a block is created. This new block gets linked to previously created blocks to create a chain of the accepted time stamped transaction, thereby saving a verified record of every transaction done.


Cryptographic keys (Private key cryptography)


Every user on the blockchain possesses a combination of private and public cryptographic creates an extremely useful digital signature Josh Rosen Hat , facilitating user ownership




Safety and security on Blockchain(A decentralized network)


Safety and security on blockchain come from its decentralized network. The network is constituted of thousand blockchains available on the network of thousands of nodes agreeing on the authenticity of transactions. This ensures that the transactions are recorded without bias and are resistant to hacker鈥檚 attack.


Mining(An incentive to service the network)


Blockchain rewards the participating nodes to create a consensus-building y time a new block is settled and committed to the chain, blockchain randomly rewards one node with a fixed bounty. This process is called mining


10+ Examples of How Blockchain technology is Taking Over the World Right Now
In 2018 David Johnson Hat , new blockchain initiatives are launched every day. Here are 10 examples of blockchains in use around the globe.


1. Healthcare
With inconsistent data handling processes meaning hospitals and clinics are often forced to work with incorrect or incomplete patient records. Healthcare projects such as MedRec are using the blockchain as a means of facilitating data sharing while providing authentication and maintaining confidentiality.


2. Tourism


Blockchain is being researched as a means of improving Hawaii  economy by giving tourists an opportunity to pay for local goods and services with bitcoin and other currencies. This way the state government hopes to attract tourists, especially from Asia Hakeem Butler Hat , to spend more money and eventually help Hawaii to develop economically.


3. Mobile Payments
Cryptocurrencies with its underlying blockchain technology is being used to facilitate mobile payments in a wide range of projects. One of the latest initiatives announced, scheduled to launch in the fall of 2018 Zach Allen Hat , will involve a consortium of Japanese banks. They鈥檒l be using Ripple鈥檚 technology to enable instant mobile payments.

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