How Blockchains Will Change Your Life

The blockchain is a new technique, not Currency. It’s commonly distributed leisure that can store single record on different computer systems. Due to that, any single person cannot change anything from existing record by his own because it is stored at different locations and they have also records.

               When computers came then they were idle systems but when they are connected to each other internet came into the picture. Likewise when we join link transactions into a distributed network then that become blockchain. The blockchain is changing totally ecosystem. Worlds all the biggest banks are doing research on the blockchain and Indian govt. is also sanctioned some budget for this in the upcoming year and thinking about to make implementation on blockchain based technology. It can track every transaction in the reserve base and uses cryptography in the back-end. Blockchain can be used in cyber security, banking, insurance, agriculture, real estate and in each and every sector blockchain have their own demand. According to me blockchain is game changer in the technology innovation. However how early we understand the potential of this technology that will be very beneficial for us. Now we can consider an example of Wikipedia now as if now there is no single control on Wikipedia article each and every article has been written by someone X person and that’s also not in his control. In that whoever have rights to change the info they can update their own but. But as we can think about the central database is under the control of Wikipedia.

The blockchain is not currency its and modern Technic because of this technique cryptocurrency transaction made possible. Now consider a simple example of a grocery shop whenever we buy any grocery item from show keeper we pay some cash amount on behalf of grocery items. But when we use some digital transaction for shopping like Paytm, Amazon pay, google pay etc. or else when we transfer any amount from your account to some other account at that time the mediator is Bank for your transaction and blockchain is based on the same. Basically, it uses P2P network that means you can directly reach out the person for the person by keeping mediator of virtual account. It shares every detail related to the transaction with to every joint node. But it’s only possible when the joint person related to change grants you the permission for the transaction like that the information like shared but more secure as well.

Blockchain can mostly use in the in following domain.

• Banking, Insurance, Agriculture.
• Real Estate Leasing worldwide.
• Distributed Cloud Storage
• Decentralized Social Networking Sites.
• Smart Contracts
• Encrypted Messaging
• Proof of Ownership
• Authenticated Voting
• Stock Market/ Share market.
• & Many more……….