Blockchain is growing list of records, called blocks that are connect by cryptography and each block contains cryptographic hash of the last block. The information in the certain block can’t be altered retrospectively without changing all of all successive blocks. Therefore, blockchain is resilient to modification of its data. In last couple of years, blockchain technology has obtained great popularity for its advantage in numerous industries. Herein we are demonstrating the real-world application in area of s Digital voting, supply chain management, Healthcare, Food safety and Real-estate.
Cybersecurity issues have been one of the leading concerns in various election across the globe and fears have been raised that domestic or foreign players could try to influence the results of the election. Blockchain technology application in digital voting has drawn attention because data are not stored in single system but many times across many independent nodes. it could store votes in an undisputable and tamper-proof way. Once a vote has been secured and linked with hashing algorithms and stored across millions of nodes then it will be practically impossible to modify.
Supply chain management:
The amalgamation of blockchain technology in supply chain management industry can intensify the efficiency of the supply chains. Because it will provide same information to all parties within the respective supply chain that can reduce the potential transfer or communication data errors. This way, less time will be spent validating data and more can be spent on delivering goods and service which would subsequently improving quality, reducing cost, or both.
In healthcare industry, patients’ medical records including diagnosis, prognosis, vital signs, demographics, lab test results and other sensitive information are stored. These data need to be safe and secure from unauthorised access. Blockchain technology is transparent and can be used to conceal the identity of any individual with complex and secure codes that can protect the sensitivity of medical data. Block chain technology is decentralized allowing quick and safe sharing of information between patients, doctors and healthcare providers.
Blockchain technology can be actively used in the catering industry. Food products can be traced from its production till processing and finally delivery. If any contamination in food occurs the source can easily and accurately be traced.
Ownership and property details can be stored in the block chain network that makes transferring and tracing ownership easy and safe. The data can easily be viewed, altered, and updated whenever necessary.