Where blockchain is applied ?

In what fields is blockchain used?
Part 1.

🙌🏻Hi, community!

Cryptocurrencies are not just electronic cash. Let consider in what spheres blockchain technologies are already being applied today.

🔸Information management

Identity management services allow users to transfer their data to the blockchain, thereby creating a digital identity. After completing the identification process just once, you can log in to the network and other services without re-entering the information.

▫️ The ID function will be implemented on the DecimalChain blockchain by the end of 2021, with biometric data being entered and hashed in the blockchain.

🔸Digital assets and tokenization

Tokenization is the process of transferring rights to an asset into a token. Tokenization takes place using the blockchain, so companies can introduce a new asset management system, increase liquidity, apply collective use scenarios, and integrate components of the traditional securities market.

On the DecimalChain blockchain, you can create all kinds of tokens in a few minutes in a convenient personal console.

🔸Copyright protection

The use of blockchain allows authors to confirm and protect copyrights and intellectual property rights. Moreover, the technology will allow for secure storage and prompt updating of information about objects.

DecimalChain will help artists confirm their copyright to the created art objects in the NFT token.

🔸Smart contracts
Self-executing contracts on the blockchain are ideal for use in commercial transactions, as they guarantee the transfer of funds or some other actions as soon as all parties fulfill all the obligations specified in the contract.

On the DecimalChain blockchain, any business will be able to create and use smart contracts without special technical knowledge and large financial costs.

🔸Electronic voting
The blockchain records the transaction (vote), creating a register of votes that will be automatically counted without decrypting personal data.

❓And where else can blockchain be applied in your opinion?
👇🏼Write in comments



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store

Decimal helps communities to issue and manage blockchain assets.