Infiniti Research, a world-renowned market intelligence solutions provider, has announced the completion of their latest article on the real-world applications of blockchain technology. Bitcoins and cryptocurrencies are no longer the only factors associated with blockchain technology. With the proliferation of technology, the applications of blockchain are now spread across various industrial segments.
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Six Intriguing Real-World Applications of Blockchain Technology (Graphic: Business Wire)
Blockchain was invented in 2008 by Satoshi Nakamoto with an intention to solve the issues associated with double-spending, by using it as a public transaction ledger. However, it is quite evident that the network-to-network chain serves many purposes other than securing business transactions and preventing theft.
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Blockchain technology helps organizations save a considerable amount by simplifying their affairs, enhancing transactions, minimizing errors, and eliminating the need to hire third-party service providers.
"Blockchain is the most promising technology that has the potential to revolutionize everything around us. It enables businesses to assimilate services without revealing additional proprietary information to third parties," says an industry expert from Infiniti
Applications of blockchain technology:
- Digital voting: Leveraging the use of blockchain technology in voting systems eliminates commonly occurring issues such as impersonation and fraud. Adoption of blockchain in digital voting systems has greatly transformed the voting process, by enabling regulators to keep a close watch on the changes in the network as and when they occur. To know more about our solutions, get in touch
- Ensuringfood safety: Though blockchain and food safety are not relatable, blockchain technology plays a key role in ensuring food safety. The undisputable nature of blockchain data makes it easier to track the journey of food products starting from its origin. This proves to be very useful in treating food-borne illnesses where one can track the source of containment using blockchain. To know more about blockchain technology and its applications, request a proposal
- Electronic health records (EHR): Data is crucial for healthcare firms and is mostly stored in a digital format. But maintaining huge volumes of healthcare data is indeed a mind-boggling task for many. The applications of blockchain in the healthcare industry are many, it not only helps to store huge volumes of patient data securely but also ensures it's accessible by verified authorities alone, thereby ensuring the safety of patient data.
- Get in touch, to know more about how blockchain technology can help you boost business profits
Infiniti Research is a global market intelligence company offering strategic insights to help look beyond market disruptions, study competitive activity, and develop intelligent business strategies.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
With 15+ years of experience and offices across three continents, Infiniti Research has been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550 companies across the globe.
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