You might have heard of bitcoin and blockchain technology. Besides that, you might have heard that blockchain will revolutionise the monetary system but is able to revolutionise other sectors of our daily life that is what we will look at.
What is blockchain
Basically, blockchain technology is a database technology, the difference between ordinary databases is the way it is created, wherein a normal database you add and edit the records. In a blockchain database, you only add new data. and to understand this concept I have included a video explaining how blockchain functions.
The use cases for blockchain outside currencies are all around us, one of the biggest companies involved in blockchain is IBM they have entered a joint venture with Maersk for a shipping system that will help to keep transport documents safe. You can read more about it here.
Also, the medical industry stands to be revolutionised by blockchain technology MedRec, HealthHeart, AMCHART and many more are currently working on making a record keeping system that empowers the patient instead of the companies and we have made a thought experiment on that subject which you can read here.
Besides that many companies are trying different use cases for blockchain and you can purchase stocks in many of them you can read more on that here.