Notesale: Turn your study into money

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BLOCKCHAIN APPLICATIONS: HOW IT IS USED
To better apply blockchain in any undertaking, you must first understand what it is
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Every person with a
copy can add new records to this database but cannot change any record that is originally in
there
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Applications
The most common application is in cryptocurrencies
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Since then, over 1600 different cryptocurrencies have been created
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The government tries to
counter this by collecting the mileage of cars when they get a safety inspection but that’s not
enough
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This would create a
secure and digital certificate for each car
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The technology is already being developed by Bosch’s IoT lab and
they are currently testing it on a fleet of 100 cars in Germany and Switzerland
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A notary is someone who can confirm and verify signatures on
legal documents
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Digital Voting
Right now, voting happens either on paper or on special computers that are running
proprietary software
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In recent years we’ve even seen countries move away from digital voting and
adopting paper again because they fear that electronic votes can be tampered with and
influenced by hackers
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Such a system would be very transparent as everyone could verify the voting count for
themselves and it would make tampering with it very difficult
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However, the process is not as easy as it sounds
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Secondly, if you allow people to vote with their own
computers or phone, you must take into account that those might be infected with malware
designed to tamper with the voting process
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Every year almost half a
million people die because of food-borne diseases because it takes too long to isolate the food
that is causing harm
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With blockchain technology, if contamination is detected, we can trace it back to its root and
instantly notify other people who bought the same batch of bad food
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It allowed them to trace the origin of a box of mangoes
in just 2 seconds, compared to days or weeks with a traditional system
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We could use it to track regular
products and battle counterfeit goods by allowing anyone to verify whether the product
comes from the manufacturer you think it does
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Although blockchains can be used to keep track of information and verify its integrity, they
can be even more powerful when we add smart contracts to them
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Insurance companies could use smart contracts to validate claims and
calculate a pay-out
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They could for instance
allow us to store our medical records on a blockchain and only allow doctors to access them

when we approve it with a digital signature
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