JS Business Solutions Blog
Blockchain Technology has Many Uses
Blockchain is typically related to cryptocurrency, and most of the time you’ll hear these two words in the same sentence. Bitcoin has both risen and collapsed in value over the past few months, which has led many industry professionals to consider other ways to take advantage of blockchain technology. In fact, the blockchain is actually quite useful for a number of different purposes.
Artists can flourish online, but the nature of this connected environment makes it easy for others to abuse the rights provided to them by the creator. This is particularly frustrating if the artist thrives on the support provided by patrons, as they are counting on being reimbursed for the use of their work. How can content creators ensure that their ownership is being respected by the masses?
Blockchain technologies can be used to change this. Companies have been developing blockchain tools that are used to keep the sanctity of copyright sound. The blockchain helps users keep proper attribution applied to content, as well as simplifies payment for any proper use. Creators can even prove who created the content in the first place, should the need arise. It’s basically becoming a great way to ensure ownership of your creations, which is a valuable thing indeed.
The healthcare field is reliant mostly on sensitive or personally identifiable information, which makes it entirely plausible that the blockchain could be used to guard this information. Thanks to blockchain technology’s capabilities of creating a concrete record, healthcare could benefit considerably from it.
Patients would find that, as a result of using the blockchain, their medical histories would be far more protected than they ever were before, minimizing the risk of these records being lost or stolen by hackers. Any practicing health professional could update a patient’s records easily, eliminating the transfer of files in between offices and practices. This basically leads to better record-keeping and more informed decisions.
In its most basic form, the blockchain is a database that maintains complete records of any changes to the data it contains. All of this combined creates a great way to manage audit trails. The blockchain records many different variables, all of which are being laid out and monitored so that tasks can be accounted for. It’s easier to find out how things are being done, or more importantly, how things aren’t being done properly. By analyzing this information, you can streamline operations and make it so that issues are resolved more efficiently. Finally, data can be found in the blockchain which shows who added the documents, and when, making the blockchain a concrete documentation method to determine how actions are being taken.
It doesn’t matter if you believe voter fraud is real or not; the fact remains that the voting process can only benefit from more enhanced security. The blockchain can make this vision a reality. The blockchain can make sure that voting results are authentic and safe from any kind of tampering, making the results as genuine as can be.
What are your thoughts on cryptocurrency and the blockchain? Let us know in the comments.