2020 Is The Year Of Blockchain Tech: Check Out These Trends!
Blockchain is a wildly popular tech due to its vast applications. Where it was once used for bitcoins, it is now used for handling secure transactions.
Blockchain fundamentally is a disruptive technology with capacity and capability to transform outdated processes and make way to streamlined, cost-effective, transparent, traceable and secure processes.
It has a lot of potential use in supply chain management, healthcare, voting, real estate, shipping, and more. This tech is believed to help with secure transactions and deal with sensitive data. Since blockchain integrations make the process more transparent, security follows. The decentralized ledger system does not have the single-point-of-failure, meaning external hacking attacks are no longer a threat.
With IoT tech being a major part of smart homes, these come across lots of private information. A data storage system on a blockchain platform will reduce the risk of hacking and leaks, making it the ideal choice for smart homeowners. As the benefits of this tech are gaining popularity, more blockchain-based solutions are coming up.
Blockchain is being used for supply chain management, personal identification, healthcare, land registry, and banking. Not only it is useful, but it is also likely to increase the number of jobs in the market since most of these use cases require huge implementations.
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