3 creative Block-chain implementations

A lot has been said about blockchain in the last several years. What cannot be denied is that it is one of the most ingenious inventions of the modern era. Since it's invention, blockchain has continued to evolve into something greater than even the creators would ever have anticipated.

What is blockchain?

It is a shared ledger technology in which transactions are decentralized and digitally signed to guarantee their integrity and authenticity. Under blockchain technology, transactions, referred to as "blocks" are recorded and incorporated into the ledger in chronological order. This way, participants are able to track transactions without the need for central recordkeeping.

While blockchain was initially meant to back up bitcoin and other emerging cryptocurrencies, there has been a rapidly growing interest from many other industries to incorporate the digital ledger technology into their day to day operations.

Here are three interesting examples of how blockchain has been implemented in different companies:

1. Microsoft Corporation

Microsoft is the market leader when it comes to development of computer software systems as well as applications. Microsoft launched Microsoft Azure which is a segment of the company. Microsoft Azure is a SaaS platform that gives developers a sandbox where they can create decentralized applications. Microsoft Azure also provides different blockchain solutions which include machine learning and big data analytics. These blockchain solutions have played a big role in improving efficiency in information management for other companies.

2. Walmart

This American chain of hypermarkets has totally overhauled their data management and tracking processes using blockchain technology. This was achieved in 2016 when the corporate giant worked closely with IBM. Walmart's use of blockchain technology has helped improve how they track the poultry and meat that they sell. With this technology, Walmart is now able to track all information using QR code scanning as the products move from the farmer to the distributor, broker to the retailer. It means that if there is an outbreak somewhere, it will be easy to detect where it originated from.

3. IBM

IBM is another technological giant that has immersed itself into the wave that is blockchain. Just like Microsoft, IBM provides the computing resources and technological support that are necessary for businesses that want to use blockchain technology. IBM guides businesses every step of the way as they build up their own blockchain.

In summary

Since its invention, blockchain has continued to grow in leaps and bounds. As more and more companies realize its benefits, it is fair to say that the use of blockchain will be even more widespread in the coming years. Blockchain is definitely the future of record keeping and digital identification.