Sectors Benefited by Blockchain Technology

Blockchain has become a popular technology in banking, investing, and Cryptocurrency sectors over the last ten years. Earlier, all I considered Blockchain only as a record-keeping technology working behind the Bitcoin network. I have been trying to learn more about Blockchain from that time. My attempts helped me encounter this definition – “Blockchain is a distributed, decentralized, and public ledger.”

Listed below are some domains where the use of Blockchain has become immensely useful:

? Bank

The banking sector leverages most benefits from integrating Blockchain into the banking operations. Financial organizations can operate during business hours. It implies that if you drop a check on Friday at 4 pm, you need to wait until Monday, the 1st half, to get the money. Blockchain enables bank users to see every step of their transaction.

? Cryptocurrency

Blockchain spreads the operations of computer networks. It enables Bitcoin and other Cryptocurrencies to function without a central authority.

? Healthcare

Healthcare organizations utilize Blockchain technology to maintain patients’ medical records securely. Whenever a medical record is produced and signed, it is written in Blockchain.

Apart from these, which other sectors can be benefited by Blockchain? Please feel free to share your take on this.

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