Do all Blockchain applications only involve cryptocurrencies

By derwin25 | Worldinfo | 9 Aug 2019


Blockchain technology opens the doors to an unprecedented revolution in technology, which goes far beyond just cryptocurrencies.

When we hear about Blockchain technology, it is normal for our mind to immediately turn to cryptocurrencies, driven by it. However, although they are the most famous, the truth is that Blockchain technology allows many more uses than just hosting Bitcoin networks and other virtual currencies.

First, we must understand what Blockchain technology is. Blockchains are decentralized databases that keep information in registers or blocks, connected to each other and protected by cryptographic mechanism, which makes the information contained therein virtually impossible to modify.

Therefore, the biggest strength of Blockchain technology is the strength in the defense of the data contained in the blocks, due to the protection they have to prevent information theft or modification by an actor.

Thus, block chains can serve multiple purposes, for example in the health sector, protecting the data of patients in a country, located in a central database hosted in the cloud, to which doctors who could access They were treating a person at the time.

This same logic of efficiency can serve to improve the administrative management of governments, creating systems so that different departments can share information with each other in real time, without having to go through the tedious waiting and exchange of communications that slow down to the process more simple.

Even Blockchain technology can mean a step forward in democratic processes around the world. The physical mobilization of the citizens of the country would no longer be necessary to exercise the vote, being able to perform it in a virtual way trusting that there is a secure electronic system that will protect the manifestation of their will.

And this without mentioning its enormous advantages in the financial sector beyond cryptocurrencies, since Blockchain technology, by operating without the need for intermediaries for operations, can increase the speed of financial transactions, including international banking operations that can take more of a day to be concretized at the moment.

Therefore, when referring to Blockchain technology, we must remember that it is not limited only to the issuance and execution of transactions with cryptocurrencies. The Blockchain is a revolution in the technological plane, which will affect all sectors of our daily lives, and the sooner we realize this, the sooner we can embrace the positive consequences that this technology will have on our lives.

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