blockchainapps 6 APPLICATIONS TO KNOW in Blockchain Technology

[Manu Sharma]

Here are the 12 blockchain services areas that will work in different fields. All you need to know it works in different blockchain applications through these areas. Many blockchain development companies develop blockchain applications according to customers’ requirements.

1. Secure sharing of medical data

Medical data sharing and protection scheme based on the hospital’s private blockchain to improve the electronic health system of the hospital.

2. Music royalties tracking

With blockchain, musicians are able to receive equitable royalty payments, venues are able to curb counterfeit tickets and record companies can easily trace music streams and instantly pay all artists who contributed to songs or albums.

3. Cross-border payments

Blockchain technology in cross-border payments can enable secure transfers between an infinite number of bank ledgers.

4. Real-time IoT operating systems

Blockchain can be used to track the sensor data measurements and prevent duplication with any other malicious data. It provides IoT device identification, authentication, and seamless secure data transfer.

5. Personal identity security

In identity management, a distributed ledger (a “blockchain”) enables everyone in the network to have the same source of truth about which credentials are valid and who attested to the validity of the data inside the credential, without revealing the actual data.

6. Anti-money laundering tracking system

Blockchain is useful as a tool in new anti-money laundering solutions for fraud and risk departments across financial institutions. This is because the data that is stored on the framework is immutable.