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Blockchain Technology: How It Brought Revolution In Technology?

Disclaimer: This is a guest post by Adela Jones

Do you run a small business? If yes, you might feel doubt in traditional ways of communication. Lacking transparency can lead your business to loss. As a businessman, it is not an easy task to find a trustworthy employee for your company.

This is the reason many business owners, entrepreneurs are facing difficulty but blockchain technology comes to provide the best solutions to everyone. And believe it, Blockchain changed the life of many people. You might be wondered how? For your answer, read the blog till the end and you will come to know in how many ways it changed your life too.

Ease the process of Bank

As we all know that banking in all countries mainly believes in paper-intensive transactions for any type of operation. In this condition, mistakes can take place and affect someone’s life. Now, blockchain technology converts all process into digitally, with this idea not only banker but the customer can access a single source of information.

This technology helps to eliminate fraud. And banker can access your information digitally anywhere in the blockchain ledger. Identifying theft was the major problem in the banking industry. There are many such complaints were registered where customer’s information being stolen and many fraudulent accounts were registered. Not only the banks, but some private lenders of guaranteed loans too are facing such problems.

After introducing Blockchain technology, customer can see all accounts under their names and they can report immediately to the bank if they see any suspicious activity in their banking details.

Health Sector

This technology helps employees who work in the health sector to manage data more accurately and without any error. It makes much more convenient to make a record of patience and allows research on drug development.

It not only eases the work of employees but it brings down Medicare fraud; billing management is fully automated. Blockchain system works effectively to patients who seek medical help from the health agency that overcharges for service offered through the fraudulent practice of billing.

The data provided by blockchain is not only helping medical professionals in offering treatment based on their past of a patient but also remove the chances of a patient incorrectly recollecting past symptoms or disorders.

Public information

This one is the most difficult works for the administration to keep a paper-based record of every person. It became tough work for them to keep a record of individuals concerning their assets and property. And all things were done manually; there is a chance of mistakes too.

Introducing Blockchain-based like ubitiquity, this turns every paper-based information into digital ledger. This not only helps to make the team’s work easy but all your information is end to end encrypted.

Voting

The day of voting is crucial for every country where thousands of people gather to give their valuable vote, to respect their efforts, the election should be fair but in some places, people are forced by a member to give a vote to their party. This makes difficult for people to choose the candidate they want.

Voting becomes more difficult because people have to physically present for voting. It becomes more challenging for them who need to travel on poll days, it includes from a young boy to an old man.

Blockchain will introduce software where people can give their vote online without being pressurized by some group of party leaders. This will give a big benefit to old people especially those who travel a long distance to give their precious vote. It also leads to safer voting and it will reduce the internal and external conflicts. The result will be fair and people are free to choose whatever candidate they want to.

Blockchain technology will not only bring a huge change in individuals’ life but many businesses will get benefit from it. It also protects personal information while uploading data publicly. This has the best application in cryptocurrency; its use can spread to other areas as well as provide a meaningful solution to the citizen.  

Description: You read how blockchain changed the way we communicate and make everything easy. It not only makes our work easy but many companies get to benefit from it.

Image by Pete Linforth from Pixabay

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