Blockchain will change the world. Some examples of blockchain real life use cases.

We described our vision about what is blockchain technology in previous article.

Due to Davos Forum 2018 Blockchain is the tecnology what will change the world. It can no longer be ignored.

Lets check some everyday uses of blockchain.

[# Smart contracts.]
There are some use cases for smart contracts.

Digital Identity — Smart contracts can allow individuals to own and control their digital identity containing data, reputation and digital assets.

KYC — Smart contracts could be used to automatically check and verify customer information against approved central records to greatly reduce the cost of customer acquisition and decrease the time it takes for a customer to open a new account.

Supply Chain — Smart contracts can provide real-time visibility for every step in a supply chain. Internet of Things devices can record each step as a product moves from a factory floor to the store shelves.

Financial Services — Once banks adopt smart contract technology and develop interoperability infrastructure, a blockchain-based smart contract could trigger a payment in fiat currency from a pegged bank account, with all necessary exchanges and transfers taking place automatically once the conditions for the execution of the smart contract are met and all needed reporting to tax and compliance authorities done on the fly.

Distributed Cloud Storage

This is more security & privacy. Decentralized data is also more difficult to attack than centralized data. On a decentralized network, files are broken apart and spread across multiple nodes (with sharding). The files are encrypted with a private key which makes it impossible for the node (participant in the network) to look at your file.

Decentralised Social Networking Sites.

Blockchain amps social media up to a whole new level. The very nature of blockchain technology provides a methodology whereby users can have vastly more control over privacy of information, while at the same time, potentially receiving monetary compensation for the viral content they create.

Encrypted Messaging

Peer to peer messaging can leverage blockchain technology to encrypt messages and store data bits efficiently on many different computers where they can only be accessed with a private key.

Decentralised Internet.

A fully decentralized internet will have its own challenges, but its key promise will be to provide robust services that can’t be compromised or owned by any single organization, a distributed network that gives its users full control of their digital life and ensures privacy and equal access. If such an internet is destined to arrive, blockchain will surely be one of its principal building blocks.

We will explained these usecases in details in our future articles. Stay tuned, dear Community!

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