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Nairaland Forum / Nairaland / General / Investment / Did You Know Cryptocurrency Is Not The Only Usecase Of The Blockchain? (142 Views)
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Did You Know Cryptocurrency Is Not The Only Usecase Of The Blockchain? by MarshallMathers(m): 6:25pm On Sep 25, 2022 |
Cryptocurrency is not the only usecase of blockchain. The basic understanding of the blockchain needs to be gotten for a better understanding of what the blockchain is used for. In a basic language, the blockchain is like a record book, used to record cryptocurrency transactions and information, better called a ledger. The Blockchain is a technology for storing data in a way that makes, hacking and cheating difficult or impossible. A blockchain is simply a network of computer systems that maintains duplicate copies of all transactions in a digital ledger that is disseminated throughout the network for everyone to see. It was created to solve transparency issues, and can by used for the following; 1. Payment processing and money transfers 2. Retail loyalty rewards programs 3. Can be used in the hospitals to store patients' data 4. Digital IDs 5. Data sharing 6. Digital voting 7. Real estate, land, and auto title transfers and lots more There are blogs that teach about these topics |
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