1 / 10

WHAT IS BLOCKCHAIN TECHNOLOGY WHY IS IT BELIEVED TO CHANGE THE WORLD

All that you have to think about the disruptive technology that will change your activity until the end of time. As indicated by an investigation of 4,800 experts from the worldwide, 66% of individuals trust that development will be the greatest factor influencing economic growth throughout the following 30 years.

consagouspushp
Download Presentation

WHAT IS BLOCKCHAIN TECHNOLOGY WHY IS IT BELIEVED TO CHANGE THE WORLD

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. WHAT IS BLOCKCHAIN TECHNOLOGY? WHY IS IT BELIEVED TO CHANGE THE WORLD

  2. Blockchain • The blockchain is a list of records also known as blocks that grow continuously. • It is a digitized, decentralized, public ledger of all cryptocurrency transactions. • It makes use of a distributed ledger technology (DLT). • These are linked to each other and are also secured with the help of cryptography.

  3. Benefits of Blockchain • Transparency • It is of increasing importance to consumers. Provenance is a platform that helps brands provide that transparency by tracing the origins and histories of products. • Blockchain underpins this transparency, allowing all parties—supplier, manufacturer, retailer and end consumer—to trace a product’s journey. • Security • Security issuance can be broken into two components: debt and equity. • In terms of debt equity, Overstock is still a pioneer in blockchain technology adoption.

  4. Benefits of Blockchain • Faster transactions • Traditionally, the time taken to execute transactions is longer and may take days to process. • In this, the time taken is relatively lower and take mere minutes to process. • Less transaction costs involved • The elimination of third parties in the blockchain method reduces the transaction costs involved. • This proves out to be beneficial for the users.

  5. Industries in which blockchain is used • Cryptocurrency • Blockchain gained wide recognition and is able to achieve its current status due to the cryptocurrency bitcoin. • Cryptocurrency market is now worth $500 billion, that is more than Warren Buffett’s Berkshire Hathaway. • Healthcare • A community of hospitals, patients, doctors, insurance companies and other related entities to process the information faster and provide timely service to the clients. • This can also be used to reduce the healthcare payment frauds.

  6. Industries in which blockchain is used • Banking and share markets • Apart from providing the faster and better services, it can also help to reduce the maintenance costs of the banks and share market. • It can also be used in trade finance to detect fraud as a number of merchants go to multiple banks with the same invoice and get the bill discounted. • Automobile industry • The automobile industry is also expected to be impacted by the help of blockchain technology. • With the advent of self-driving cars, this can play a major role in the payment methodology, booking rides, and several such tasks.

  7. Industries in which blockchain is used • Government • Delays in the information impact the services provided to the citizens and results in the longer execution times of the project. • Having a shared data between the department helps a great deal and also introduces transparency and helps in faster execution. This can also help the prevention of corruption. • Law • Huge amounts of data are accessed through blockchains and transmitted. • To facilitate the legal procedure and payment, it can be used with the help of smart contracts. This removes the requirement of a middleman and can help you to receive payments after the milestones are met.

  8. Industries in which blockchain is used • Defense • In defense, any unauthorized access, modification of critical defense infrastructure, operating systems and network firmware is necessary as it can compromise on the national security. • With the help of this technology and distributed data centers can ensure your security against attacks on important network and hardware equipment.

  9. Looking for a Blockchain Application DeveloperContact Us • https://www.consagous.com/blockchain-services/ • https://www.consagous.com • info@consagous.com

More Related