Examples of products, vendors or companies that use the technology:
There are many examples of use of the Blockchain technology. However, they are not only used for banking and payments industry. They could be affected in other industries such as health care, cyber security, government and public benefits, and music. These are only some examples of many industries that Blockchain technology can affect.
Inability to share secure data is suffered from healthcare institutions across the world. Improved data collaboration between providers is extremely important for higher probability of accuracy in diagnosis, effective treatments, and improved functions for healthcare systems to bring effective care systems. Thus in order to increase the effectiveness of healthcare data, Blockchain technology can be implemented to share their networks with more secure data and integrity. The startup companies like Gem, and Tierion are partnered with Philips Healthcare in the Philips Blockchain Lab to create platforms that will allow for data storage and verification of personal health records accessible by patients.
The Blockchain technology’s data communication that uses advanced cryptographic techniques to ensure that data is correct, and is not intercepted in the interval. Guardtime is an Estonian startup cyber security company looking for a Blockchain approach to ensure industrial level cyber security. As Blockchain technology becomes more familiar and widely adopted throughout the world, there is a higher probability that the hackings could go down, because the technology is very robust than any other systems we currently hold today.
Government and public benefits
The use of Blockchain technology can be implemented for distribution of aid and welfare for the government, and public benefits. GovCoin Systems Limited, head quartered in London United Kingdom, supports the UK government by using the Blockchain technology to streamline and secure the government distribution of benefits.
Reports say Billboard and PeerTracks are considering using Blockchain to eliminate the use of an intermediary and have users pay the artists directly. Mycelia, created by Grammy-winning artist Imogen Heap, is using Blockchain recorded contracts to allow the artists to sell their music to fans without having to go through a record label. Also, another music industry, Ujo Music, founded by Phil Barry, wants to solve the problems associated with streaming music and paying artists by using Blockchain.
As mentioned above, there are so many different ways that Blockchain technology can be implemented in variety of sectors and industries. Blockchain allows people to innovate in their particular industry to improve efficiency and effectiveness for the organizations. Within a half-century, Blockchain will become more familiarized in the products and companies by many people in the world.