Blockchain Applications
Blockchain Development is one of the most revolutionary systems that is evolving in recent times. The potential of blockchain is still unknown but the technology can be applied in several other fields too. Recently facebook too has entered into this field and announced their own cryptocurrency called Libra.
Financial Institution :
Blockchain Technology offer a well secured financial platform in order to protect the interests of account holders against hackers. The Peer to Peer network won’t give access to any loophole as the central system provides. Cryptocurrencies will lead the foundation of financial transactions.
Smart Contracts :
A set of computer code which runs on top of the blockchain platform which contains set of protocol which the concerned parties has agreed upon. Blockchain Development will initiate and propose contracts which can be fully or partially enforced without any human intervention.
Video Games :
A computer game which was powered by blockchain technology called Cryptokitties was launched in 2013. Playing Blockchain games lead to earn cryptocurrency. In Cryptokitties one is suppose to collect, breed and trade virtual cats. Years back a virtual cat was sold equivalent to 170,000.
Logistics and Supply Chain :
Blockchain has also been incorporated in several supply chains, Logistics as well as supply chain management. Walmart has tested an application which traces the distribution of Pork in China and America and its production in order to understand how efficient is the transactions and to gauge its accuracy and efficiency.