- Blockchain - Home
- Blockchain - Introduction
- History of Blockchain
- Blockchain - Technology
- Blockchain and Cryptography
- Blockchain Beyond Crypto
- Blockchain - Advanced Concepts
- Blockchain - Decentralization
- Blockchain - D-Apps
- Blockchain - DeFi
- Blockchain - Future Scope
- Smart Contracts in Blockchain
- Blockchain - Ricardian Contracts
- Blockchain - Oracles
- Blockchain - DAO
- Bitcoin
- Bitcoin - Invisible Gold
- How Bitcoin Works?
- Bitcoin - Network
- Bitcoin - Wallets
- Bitcoin - Innovations
- Ethereum
- Ethereum Alternate Cryptocurrency
- Ethereum Ecosystem
- Ethereum Virtual Machine
- Advanced Ethereum
- Ethereum Wallets
- Ethereum Miner Nodes
- Miscellaneous
- Blockchain - Double Spending
- Public Key Cryptography
- Blockchain - Hashing
- Bitcoin - Mining
- Blockchain - Chaining Blocks
- Blockchain - Proof of Work
- Blockchain - Network & Mining
- Blockchain - Incentives to Miners
- Blockchain - Merkle Tree
- Blockchain - Payment Verification
- Blockchain - Resolving Conflicts
- Blockchain - Privacy
- Bitcoin - Mitigating Attacks
- Blockchain - Conclusion
Blockchain - Beyond Crypto
Concept of blockchain emerged with the creation of Bitcoin(Crypto) in 2008. Because Bitcoins from a major part of the history of Blockchain technology. But as time goes companies like Google, Apple, Porche, Coca-Cola, and IBM define the use cases of Blockchain beyond the Crypto.
Blockchain Technology Timeline
Since Blockchain was introduced till now there are so much progression in this time period. As you can see on the image as we described each phases of Blockchain.
Exploration & Investment
Blockchain in 2015 represents a frontier technology with immense potential but significant risks. While Crypto (Bitcoin) has shown resilience and growth, the emergence of platforms like Ethereum suggests a broadening of blockchain applications beyond digital currency. Investors and developers was entering the space and focused on blockchain education.
Early Adoption
The early adoption stage of blockchain technology began around 2016 where most people unaware about this powerful technology, a few of us start using this technology to create small scalable projects. Lack of community support and knowledge all we were using this on cryptos.
Growth
The growth stage, which we've been experiencing in recent years from 2018 to till now by using this technology on finance, supply chain, healthcare, etc. Governments and financial institutions start developing regulatory frameworks. Increased venture capital funding and corporate investments in blockchain projects.
Maturity
The maturity stage will be in the upcoming years, which we're gradually moving towards, is expected to include Interoperability, Standardization, Scalability solutions, Sustainable practices, Education and workforce and Integration with other technologies.
Blockchain Use Cases Beyond Crypto
Banking
There are nemours use cases of blockchain in banking sector not just the replacing the physical currency. Blockchain can be used for Fraud Detection and KYC.
- Fraud Detection: Reduced fraud in affiliate programs.
- KYC: Avail KYC virtually that saves time.
Cybersecurity
In cybersecurity blockchain provide decentralized data storage, improved authentication process by using cryptographic signatures, making harder to alter data undetected. Improved integrity verification for software updates and patches.
IoT
Playing an important role in IoT by securing device-to-device communication and decentralized network architecture for better scalability. Also helps in tamper-proof logs of device activities and data exchanges.
Healthcare
In the healthcare industries enhanced patient data privacy and control that helps to give right treatment to the patient at the right time. That reduce the failure rate of treatment.
Supply Chain
In supply chain end-to-end traceability of products helps to helps to keep the track. Also Reduced counterfeiting through verifiable product histories using smart contracts for automated payments and inventory management.
Encrypted Messaging
In this era, nothing on the internet is entirely secure. To protect confidential information, blockchain technology can be used to encrypt messages between two or more people. This encryption ensures that third parties cannot decrypt the conversation.
Pharmaceuticals
Pharmaceuticals companies using the large amount of data to sell the medicine to the right patient by using blockchain technology.
Advertisement
To detect your right audience you need a large data where you can use Blockchain to place your advertisement. It helps to create direct connections between advertisers and publishers, reducing intermediaries.
Affiliate Marketing
Affiliate Marketing becomes transparent and immutable tracking of referrals and sales. Avail to detect smart contracts for automatic, accurate commission payouts. Generate direct trustless relationships between merchants and affiliates.
Other Popular Use Cases of Blockchain
- Unified Communication: A lot of companies are using automated communications, this can be enhanced by Blockchain to keep it bi-directional and relatable.
- Government: Governments are using Blockchains to improve the service quality like safeguard the citizens property and cut the red tape by keeping the transparency in the system.
- Charities: People were scared to donate on charities, as where his money will be used there was no transparency. By using Blockchain now there is transparency.
- Ride-Sharing Economy: By using Blockchain in ride-sharing economy it gives the control to riders and drivers. Uber is using the same concept with the Blockchain.
- Elimination of Counterfeit Products: De Beers diamond producer using Blockchain to keep the record of registered diamond to reduce the conflict of diamond transaction.
- Contracts: Blockchain can the check contract rule, verify and process the transaction without any involvement by using Smart Contact Blockchain design.
- Microloans: Blockchain technology can easily approve microloans and credited the amount to the appliers' account instantly. There are a lot companies which are using Blockchain to approve microloans like Paytm, Phonpe, Twigga, etc.