Blockchain plays a more important role in our modern life, with its power, blockchain is changing the way of managing and solving solutions. These popular blockchain applications across industries can amaze you.
Heavy Industry & Manufacturing
As factories around the world become more and more interconnected, the influence of blockchain is becoming more and more pervasive. The factory of the future spans the entire network of machines, parts, products, and value chain participants, including machinery suppliers and logistics companies. Now, more than ever, manufacturers and heavy industry are faced with the concern of securely sharing data inside and outside of factory walls.
Armed with detailed data that understands the challenges and opportunities they face, manufacturers can choose the most appropriate option from technology solutions.
Producing scalable blockchain applications with transparency and trust through all stages of the industrial value chain, from raw material sourcing to supply chain-ready finished product production response.
Furthermore, manufacturing blockchain applications can eliminate counterfeiting, design highly complex products, define management, track assets, ensure quality, and comply with regulations.
Cross-border Payments
Pioneered by the world’s first cryptocurrency, Bitcoin, remittance applications have become ubiquitous. Cross-border payment blockchain applications are proving extremely popular in fintech thanks to the reduced fees and speed with which they can help individual consumers and newer businesses.
For example, blockchain applications for remittances can save the most important banks $8 to 12 billion dollars per year by eliminating red tape, creating digital ledger systems according to real-time, and reduced third-party fees.
Personal Identity Security
Data from LifeLock and identity theft experts shows that over 16 million Americans have complained about fraud and identity theft alone, one identity being stolen every two seconds! Phishing of this scale can happen through forged documents to infiltrate personal files.
Governments using blockchain applications that secure personal identities could see a significant reduction in identity theft by keeping birth certificates, dates of birth, and social security numbers; practically any sensitive information on the decentralized blockchain ledger.
Gaming
Just like in an online Role Playing Video game (RPG) like World of Warcraft, World of Freight, or Fortnite, there are aspects to the game that are familiar, special, unique, epic, and legendary. Legendary items are the rarest.
In blockchain gaming applications and blockchain-based games, you can determine how many legendary items are available in the game, such as 25. Once this amount has been reached, it is not possible to have more legendary items of this type. Even if these 25 items are identical, every single item is remarkable because it will include a whole record of how the item was used.
The game’s best player probably already owns it, and this knowledge will always stay with the item, even if someone else buys it from them.
Otherwise, your item won’t stop working. NFT is a type of content that can stay in the metaverse forever
With its powerful, blockchain creates a new world. Many investors believe that every field will be blockchainize in the near future. Hope that this article brings you ideas about blockchain applications across industries.
If you want more information, know more about blockchain or blockchain investment potential, SmartOSC experts are always willing to help you.
Contact us if you have any queries about Blockchain development services, dApps development, NFT marketplace development, Crypto wallet development, Smart contracts development.
