• About
  • Privacy & Policy
  • Contact
Wednesday, May 18, 2022
  • Login
MYTECHMAG-A Leading Technology Magazine
OGAD Top Banner
Renewable Energy Power Purchase Agreements Top Banner
CCUS Top Banner
Data Driven Oil & Gas 2022 Top Banner
DWS Top Banner
LNG Top Banner
Project Finance & Project Financial Modelling Top Banner
Digital Transformation Conference Top Banner
Energy Storage Top Banner
Investment USA 2022
Mastering Clean Hydrogen Top Banner
Cyber Defense Top Banner
Exhivits The Virtual Exhibition Top Banner
Qube Events NPF Top Banner
Payments Summit Europe Top Banner
  • Home
  • Technology
    • Supply Chain
    • Enterprise Security
    • Cloud Technology
    • RegTech
    • HPC
    • Collaboration
    • IOT
    • Compliance
    • Artificial Intelligence
    • Field Service
    • CRM
    • Project Management
    • Fintech
    • Risk Management
    • Cyber Security
    • Enterprise Architecture
    • EAM
    • ECM
    • Block Chain
    • Data Analytics
    • Robotics
    • Disaster Recovery
    • Marketing
  • Industry
    • Retail
    • Healthcare
    • Construction
    • Pharma
    • Education
    • Textile
    • Aerospace and Defense
    • Banking
    • Smart City
    • Oil and Gas
    • Telecom
    • Travel & Hospitality
    • Agri Tech
    • Media & Entertainment
    • Logistics
    • Manufacturing
    • Legal
    • Government
    • Real Estate
    • Automotive
    • Food and Beverage
    • Biotech
    • HR
    • Insurance
    • Energy and Utilities
    • Contact Center
    • Capital Market
    • Chemical
    • Sports
  • Vendors
    • Aerospace and Defense
    • Agri Tech
    • Artificial Intelligence
    • Automotive
    • Banking
    • Capital Market
    • Collaboration
    • Construction
    • Contact Center
    • CRM
    • Cyber Security
    • Data Analytics
    • Disaster Recovery
    • EAM
    • ECM
    • Energy and Utilities
    • Enterprise Architecture
    • Enterprise Security
    • Fintech
    • Government
    • Healthcare
    • Insurance
    • IOT
    • Legal
    • Logistics
    • Manufacturing
    • Marketing
    • Oil and Gas
    • Pharma
    • Retail
    • Risk Management
    • Smart City
    • Supply Chain
    • Top CEOs
  • Magazines EditionsMost Clicked
  • News
  • Featured Articles
  • Top CEOs
  • Events
No Result
View All Result
  • Home
  • Technology
    • Supply Chain
    • Enterprise Security
    • Cloud Technology
    • RegTech
    • HPC
    • Collaboration
    • IOT
    • Compliance
    • Artificial Intelligence
    • Field Service
    • CRM
    • Project Management
    • Fintech
    • Risk Management
    • Cyber Security
    • Enterprise Architecture
    • EAM
    • ECM
    • Block Chain
    • Data Analytics
    • Robotics
    • Disaster Recovery
    • Marketing
  • Industry
    • Retail
    • Healthcare
    • Construction
    • Pharma
    • Education
    • Textile
    • Aerospace and Defense
    • Banking
    • Smart City
    • Oil and Gas
    • Telecom
    • Travel & Hospitality
    • Agri Tech
    • Media & Entertainment
    • Logistics
    • Manufacturing
    • Legal
    • Government
    • Real Estate
    • Automotive
    • Food and Beverage
    • Biotech
    • HR
    • Insurance
    • Energy and Utilities
    • Contact Center
    • Capital Market
    • Chemical
    • Sports
  • Vendors
    • Aerospace and Defense
    • Agri Tech
    • Artificial Intelligence
    • Automotive
    • Banking
    • Capital Market
    • Collaboration
    • Construction
    • Contact Center
    • CRM
    • Cyber Security
    • Data Analytics
    • Disaster Recovery
    • EAM
    • ECM
    • Energy and Utilities
    • Enterprise Architecture
    • Enterprise Security
    • Fintech
    • Government
    • Healthcare
    • Insurance
    • IOT
    • Legal
    • Logistics
    • Manufacturing
    • Marketing
    • Oil and Gas
    • Pharma
    • Retail
    • Risk Management
    • Smart City
    • Supply Chain
    • Top CEOs
  • Magazines EditionsMost Clicked
  • News
  • Featured Articles
  • Top CEOs
  • Events
MYTECHMAG-A Leading Technology Magazine
No Result
View All Result
MYTECHMAG-A Leading Technology Magazine
No Result
View All Result
Home Block Chain

Few Ways Blockchain Is Being Utilized

Emily Johnson by Emily Johnson
April 24, 2019
in Block Chain
blockchain-utilization
19
SHARES
74
VIEWS

Since its conception in 2008, blockchain has developed into one of these incredibly flexible technologies that can efficiently be used to do anything. The incorporation of blockchain has moved far exceeding cryptocurrencies alone and today is not just bitcoins any longer. It is so adaptable and capable that it has all the potential to convert a mainstream technology by working multiple roles and functions, from improving security to streamlining co-operation, and even enhancing the daily lives by making the world a better place. One can say that this technology is used in practice in the upcoming years by tech experts, governments, and corporations.

As per a Gartner report, as more businesses and organizations invest in blockchain-related projects to be performed in their companies, this technology’s value-add will increase to slightly over USD 360 billion by 2026, and up to USD 3.1 trillion by 2030. Bank of America predicted that companies such as Oracle, Amazon, and Microsoft could profit from the adoption of this technology, generating a USD 7 billion market as it converts into the mainstream.

Transforming the Financial World

Financial transactions are, still today, remarkably complex processes – particularly cross-border ones. The requirement for security whenever funds are transferred is explicit, but the infrastructure and emissaries utilized by the banks are still the same ones that have been in the position since the ’70s. Right now, digitization assists one sole purpose: to advance up sorting information in private databases. Smart contracts use blockchains to practice complex and ultimately secure legal agreements and digital connections. The inherently strong importance on transparency and security of the assigned ledger can tremendously improve the current system, beginning from the fact that it can help build immediate connections between two international correspondents and leaves out any middlemen in between by disintermediation.

An exciting application of the decentralized ledger is practicing it to “tokenize” real and financial assets and convert anything into liquidity. Tokenization has a meaningful impact on markets and can remodel the finance world – the cryptocurrency market has presently grown to USD 287 billion, but the total value of illiquid assets caps at a whopping USD 11 trillion. Tokenization can encourage investors to trade on these assets without the package and the complexities of paper. Blockchains can also assist governors by serving as a fully available system of record where only compliant activities can be authorized automatically.

Protecting Privacy

Due to the subjective nature of the distributed ledger, there is no centralized point of vulnerability for hackers to target to take away any private data. Digital identities can be managed to collect all kinds of information about an individual, such as social security info, and credentials which will be deposited in the safe environment provided by the blockchain.

The digital identity can perpetually be verified with a single key with no requirement for paperwork or documents, and no obligation to provide any personal information. Businesses that actually trade information by taking private data for free and then resell it will be removed of this absurd power, and power will be given back to users. Unbanked personalities will enjoy a new verifiable digital identity and will have passage to the financial services they are currently banned from.

Increasing Peer-to-Peer into the Future

Few people have been as innovative and pioneering as the contrivance of the peer-to-peer (P2P) networks. A practical, scalable and productive solution to reduce the cost of distributing files through the initial days of the internet, P2P has resulted in a powerful grassroots movement to combat the overwhelming hunger of the largest multinational organizations of the world.

It is not so demanding to see the loose thread that connects blockchain to P2P – and it was only a subject of time before one of the consequential players of this freedom-based manufacturing would build a bridge to cross that divide. Given the exact numbers of torrent users, the presentation of these crypto coins can genuinely revolutionize the markets of a scale of the computational means exchange.

Share1Tweet5Share8
Previous Post

How AI Changes the Contact Center

Next Post

Recent Technology Trends Across Industry Verticals By Josh Rowland

Emily Johnson

Emily Johnson

Related Posts

How Blockchain can help solve the Challenges of COVID-19 Vaccination
Block Chain

How Blockchain can help solve the Challenges of COVID-19 Vaccination

June 7, 2021
Blockchain to Improve the Grid Efficiency of Utility Industry
Block Chain

Blockchain to Improve the Grid Efficiency of Utility Industry

October 12, 2020
Jonny Fry
Block Chain

2020 Digital Bytes

January 31, 2020
Next Post
Josh Rowland

Recent Technology Trends Across Industry Verticals By Josh Rowland

Qube Events NPF Side Banner
Data Driven Oil & Gas 2022 Side Banner
Digital Transformation Conference Side Banner
Renewable Energy Power Purchase Agreements Side Banner
OGAD Side Banner
Payments Summit Europe Side Banner
CCUS Side Banner
LNG Side Banner
Exhivits The Virtual Exhibition Side Banner
DWS Side Banner
Cyber Defense Side Banner
Investment USA 2022 Side Banner
Mastering Clean Hydrogen Side Banner
Energy Storage Side Banner
Project Finance & Project Financial Modelling Side Banner
Tweets by MyTechMag
Qube Events NPF Side Banner
MYTECHMAG

Transforming news into insights, not only do we serve as a source of information but as the breeding ground for innovative ideas and exchange of breathtaking strategizes that can make a difference in your technological understanding.

Follow Us

  • Home
  • About Us
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Sitemap
  • News
  • Subscribe
  • Contact Us
  • RSS
  • Write For Us

Recent Posts

Dan Springer

Dan Springer Net Worth, Biography, Age, Career, Salary & More

May 18, 2022
PayNways

100% Focus On Payments Processing

May 18, 2022
  • About
  • Privacy & Policy
  • Contact

© Copyright © 2022 MYTECHMAG. All Right Reserved.

No Result
View All Result
  • Home
  • Technology
  • Industry
  • Vendors
  • Magazines Editions
  • News
  • Featured Articles
  • Top CEOs
  • Events

© Copyright © 2022 MYTECHMAG. All Right Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In