Blockchain is a technology that records information in such a way that it is impossible or difficult to hack, change or cheat. It is developed with some blocks of Information. This system is totally decentralized and consists of several nodes or systems.
Whenever a piece of information is shared, it gets recorded in the blocks, and all the members of the network get a copy of it. All these features make Blockchain technology too secure for data breaches. To know, Read more here and sharpen your knowledge.
The Future Use Cases Of Blockchain
The impressive features of Blockchain are making this technology very popular. The level of security and transparency that it is providing makes it more adaptable to those sectors where data security is too important.
- Secure Elections
Elections always bring some controversy. From manipulation of votes, fake voter identities, external influence are some of the things that come on the news with almost every election. Using Blockchain technology will bring transparency to the voting system. It will eliminate the chances of foul play in democratic elections.
With the help of this decentralized and transparent technology, all the information will get updated in real-time. At the same time, it will save time by removing the need to conduct elections in numerous days on different phases. Already there are a few Blockchain-based voting platforms that are online, are in operation across the world. It is the initial stage of Blockchain-based democracy.
2. Decentralized IoT
The IoT technology is constructed on a network that has some interconnected objects. These gather and transfer all the pieces of information from one end to another in a smoother and continuous manner. In order to regulate the proper flow of information, the whole system relies on a centralized point. This centralized point-based network is not only less efficient but also too risky.
In case any failure occurs at the central point, it will drop down the whole network, or a malfunction will occur. The Blockchain decentralized system will remove this insecurity and chances of any network failure and help the whole network to function smoothly. Some companies like Samsung and IBM have already entered the Blockchain-based IoT and collaborated it with their ADEPT or Autonomous Decentralized Peer-to-Peer Telemetry.
3. Swarm Robotics
Swarm robotics implies performing some complex tasks by using a swarm of simple robots. For performing any tasks with these robotic swarms, the individual bots that are performing on the robotic swarm need to be well synchronized, specific assigned roles, and most importantly, smooth coordination.
So, information has to be shared between all elements in real-time. Here the system needs Blockchain technology. The whole process of assigning tasks, synchronization, and coordination can be done in real-time, easily with Blockchain. While using Blockchain technology will enhance coordination. The robots will also be able to respond to unplanned instruction along with other stimuli.
4. Cyber Security
With the digitalization of our day-to-day life, cybersecurity has become as much important as any other physical security is. For most of the company and organizations, there are some confidential pieces of information that are prone to data breaches and hacking.
Most organizations use centralized data storage. With Blockchain technology, the decentralization of data storage will distribute the data in between all the nodes of the network. It will be more secure and almost impossible to hack. In a centralized system, the hackers only need to attract the central point of the network. But with Blockchain, they need to attack all the nodes at the same time, which is nearly impossible.
We will see more industrial sectors implement Blockchain in their previous or present working system. Apart from all the sectors that are mentioned earlier, betting is another field that is utilizing the advantages that Blockchain offers. We can hope to see some more networks that are being secured and transparent with Blockchain technology.