Blockchain Beyond Crypto: Unlocking the blockchain value with 5 powerful use-cases.

The concept of a decentralized system began with a virtual currency buying platform Crypto, with the evolution of which people started to familiarize the Blockchain with crypto. But even with the collapse of the cryptocurrency market, the Blockchain is still the buzzing word in the tech space.

With the evolution of Blockchain, IT business leaders have identified its power potentiality way beyond the crypto. Blockchain is empowering not only to businesses across the globe but can be used by governments of different countries primarily because it mitigates the risk of security and cyber threats to any organization which ensures the authenticity of the data on the internet.

With web3 being the future, Blockchain will be at the forefront in delivering data ownership of Individuals The key value proposition that differentiates Blockchain from the other technologies is the unparalleled security and data- transparency that it offers.?Blockchain is likely to cause a revolutionary impact as more and more industries have started realizing its impact in many sectors but the primary of it is the Financial sector as it makes creates a distributed ledger to store all the transactions that are impossible to alter or corrupt by any unauthorized individual.

?Some of the impactful Blockchain trends include:-

1. BaaS (Blockchain as a service)

This is one of the most popular trends of 2023. Companies like Alphabet (The parent company of Blockchain) are finding innovative new ways to deploy the BaaS using Blockchain fundamentals. Blockchain with the cloud is an excellent way to deploy Blockchain-based services via hosting web solutions like cloud-based data storage.

Hyperledger Cello is one such project that provides tools and frameworks to help build digital products by using Blockchain fundamentals as a service.

2. NFT trends

?The NFT trend has caused a revolution in the fashion and entertainment industry. The NFT has created an innovative way for Artists and creators to patent their piece of art and sell it digitally to their fans and users.

Blockchain has provided an efficient way by allowing creators to tokenize their art whether it's painting, music, or virtual assets created as digital currencies, and build a digital community by claiming ownership & selling their products. This empowers the artist and fashion house to directly sell their art, creating an ownership mechanism that is impossible to corrupt.

3. Blockchain in healthcare

Data is a crucial asset in healthcare. Any alteration in the medical record or database can cost a patient's life. With such crucial data, data authenticity is an even bigger point of concern. With fair and transparent data via a distributed ledger, it eliminates the probability of counterfeit medicines, fake medical bills, and health records of an individual.

4. Blockchain in Fintech

Blockchain as a service financial sector the way we send or receive money by successfully replacing the traditional style of financial transactions.

Hence, no transaction made by a customer can be altered or manipulated.

The Banking sectors have leveraged Blockchain fundamentals by offering Blockchain as a service. One of the core reasons is gaining customer trust by delivering data transparency by sharing real-time transactions eliminating the risk of any cyber attack or fraud.

5. Blockchain in supply chain management

Blockchain is a groundbreaking technology in the inventory management supply chain because it allows real-time traceability and verifies the number of goods and their authenticity, the real-time visibility of the shipping status all in a tamper-proof state.

An efficient and transparent operational flow can help eliminate the production of counterfeit products. In case of any duplication of products, with a single version of history, it can be traced back to the source that made the data entry.

Blockchain has gained global reorganization as it ensures data protection and data authenticity that become a non-negotiable and a crucial asset in the Healthcare, financial, inventory management, supply chain, and many other industries.

Blockchain is a groundbreaking technology that offers authenticity where individuals can claim complete ownership over?confidential information. Blockchain eliminates the need for intermediaries making any type of cyber fraud or hacking easily traceability ensuring immutability, data authenticity & a safe transaction. Blockchain is the possibility that'll bring trust and ease into the lives of customers when it comes to managing myriad business transactions with a lot of sensitive data.