What is the blockchain, how is it developed, and in what fields is it applied now?
1. Healthcare industry in the application field of blockchain Technology
As an industry, healthcare will benefit the most from blockchain integration.
Identity management: the blockchain based patient identification system can improve the most dangerous and thorny problems that do not match the patient's health records.
Data protection: the medical industry is usually the industry with the most data leaks. This data includes confidential information such as patients, doctors and medical records. Decentralized system can protect data from attacks or failures of local nodes. The blockchain based system will also make the data sharing between hospitals and patients safer and faster.
Fraud prevention: Unfortunately, this problem is common (though changing) in almost every industry. In the healthcare industry, fraud usually refers to forged medical records, claims and work certificates. However, tamper proof hash ledger can solve this problem
2. Insurance industry in the application field of blockchain Technology
Blockchain technology can save billions of dollars for the insurance industry and improve the lives of billions of people.
Claim processing: Processing premiums and claims takes up most of the insurance company's time. This article is where most mistakes can occur. In 2016, more than $1 trillion in premiums were processed. Billions of dollars in claims were rejected and accepted only for the second time. Using blockchain based applications, information can be shared and updated safely, quickly and without errors. Not to mention saving a lot of paper and working time.
New services: services such as P2P insurance, micro insurance, on-demand insurance, reinsurance and parameter insurance can develop rapidly with the help of blockchain.
3. Telecommunications industry in the application field of blockchain Technology
Decentralization: Traditionally, the telecommunications industry has been highly centralized, with independent entities owning the entire supply network and bearing all costs. As more and more data is transmitted every day, they see a significant need to improve their infrastructure. This cuts margins and increases consumer costs. Telecom companies share data, computing power and infrastructure. Adopting 1 centralization will bring a more sustainable and scalable business model.
5g support: the transition from 3G to 4G is expensive, and telecom companies still do not meet the expected return on this investment. But now, in order to remain competitive, communication service providers must promote competitive 5g services as soon as possible. Blockchain allows telecom companies to transfer from traditional client and server models to localized access node systems. This will result in faster, more reliable and more competitive costs.
New revenue sources: identity as a service, data management, Internet of things connectivity and new partnerships made possible by blockchain implementation. These are additional sources of revenue for the telecommunications industry.
4. Energy industry in the application field of blockchain Technology
The energy sector is in the middle of major technological reform, and blockchain is playing an important role. According to ey, more than 100 blockchain use cases have been identified. Some of the biggest use cases are:
P2P energy trading: in 2016, New York residents used smart contracts to trade renewable energy on the public Ethereum blockchain platform. Soon, most families may generate their own energy and use blockchain based smart contracts to exchange additional energy with others.
Microgrids: due to long-distance transmission, the United States loses $130 billion in energy every year. The goal of microgrid is to solve this problem by creating small, localized power stations that can perform energy transactions through tamper proof ledgers.
5. Supply chain in the application field of blockchain Technology
According to IBM, blockchain implementation in the supply chain can increase global trade by 15%. Most of these benefits can be obtained in three aspects:
Traceability: traceability is an important aspect of any supply chain. Blockchain based traceability applications are the perfect solution. Ability to handle large data sets, real-time data access and faster data sharing. Wal Mart and bext360 are two companies that have used blockchain to track their products.
Certification: food safety and counterfeit goods pose a serious threat to health and cause trillions of dollars in unemployment and income loss. Blockchain provides a verifiable and reliable method, and goods and services can be verified when traveling around the world. Blockchain has proved to play an important role in automobile, pharmaceutical and food supply chains.
Automation: middlemen and manual transactions cost $1.6 trillion a year and slow down the whole system. Blockchain based companies like securcapital have developed a safer and faster alternative to automating communication and operations between supply chains.
6. Network security in the application field of blockchain Technology
With thousands of network attacks every year, network security becomes more and more important. Traditional methods of using the network are becoming more and more insecure. Fundamentally speaking, the Internet based on blockchain technology can more safely resist network attacks. It is not feasible to redo the whole Internet immediately, but we can use blockchain technology to protect ourselves. For example, a distributed ledger can authenticate users and completely block unauthorized users. The decentralized database and domain name system make it more difficult for hackers to find ways to break the firewall. Centralized systems are more vulnerable.
The creation of blockchain is reliable and verifiable, which is the perfect foundation for network security applications. (the pictures and words come from the Internet. If there is any infringement, please contact us to delete it)