5 Principais usos da tecnologia Blockchain no vida cotidiana 2024

In recent years, Blockchain has remained one of the biggest technology keys. This revolutionary technology is constantly gaining recognition these days and is not going away anytime soon. The nature of blockchain technology has given free rein to the imagination to determine its potential uses beyond the monetary setup. Although Bitcoin and Ethereum were the first applications of this invincible technology, its true power is yet to be unleashed.

Blockchain is believed to be a revolutionary technology as many of the top Fortune 500 companies have started to harness its power. It is no wonder that many blockchain enthusiasts call it the 'magic bean' because of the potential it has.

If we look at the web, only after years of its inception do we realize the true potential and applications of the web. Just as the web was not clearly understood during its early years, the same goes for the blockchain. The clear areas of blockchain use have yet to be defined to determine its trajectory. Technology undoubtedly has the potential to replace existing businesses or modify them, as well as, ultimately, create new businesses that did not exist before. However, before discussing the real-world applications and use cases of blockchain, let's first understand this technology.

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What is Blockchain?

The very word blockchain defines the process, where new information that is part of a “block” is added to a “chain”. Blockchain is the digital, distributed and decentralized ledger underlying most virtual currencies. Don & Alex Tapscott, authors of Blockchain Revolution (2016) define it as, “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions, but virtually everything of value.”

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You can understand this by thinking of a giant Excel spreadsheet that is shared by many different computers. Similar to a spreadsheet, a blockchain is a ledger distributed over a network of computers, which records all changes for users to see. In this way, the technology not only protects your business and prevents theft, but also simplifies and streamlines the process, while reducing errors.

Blockchain applications and use cases

This decentralized, digital ledger has numerous applications and can potentially transform banks and other financial institutions, hospitals, businesses and governments. Here are the top 5 uses of blockchain which makes it a revolutionary technology.

  1. Processing payments and money transfers

One of the biggest uses of this technology is the ease of transferring money. International payments typically take days to process and are also expensive and error prone. As such, blockchain provides a means of streamlining the transfer of funds from one party to another, 24/7. Payment is processed quickly because there is no third party involved in settling the payment. Many remittance companies such as Abra and Bitspark are already using this technology for fast international payments.

  1. Smart Contracts

Soon, this technology will make our lives easier, because both tangible and intangible properties will have intelligent, reason-based blockchain technology built into them. A smart contract is “a computerized transaction protocol that executes the terms of a contract” that is visible to all users. As we know, blockchain eliminates the need for third parties as well as ensuring that all ledger participants know the details of the contract. Smart contracts can be used for various situations such as financial derivatives, insurance premiums, property rights and crowdfunding.

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In real estate, this will eliminate the need for the title verification industry because the property will be stored in a decentralized encrypted ledger to quickly verify the property. Similarly, in the music industry, smart contracts will solve the problems of property rights and royalty distribution. In addition, smart contracts can revolutionize the traditional lending system.

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  1. digital identity

Blockchain offers an opportunity to establish a strong system for digital identity. This technology makes it possible to securely manage your identity in the digital world without sharing much of your vulnerable personal information. Microsoft is already creating digital IDs in its Authenticator app to provide users with a way to control their digital identities. According to fin-tech experts, in the future people will be able to use the single digital ID to sign up at any registrar.

  1. digital voting

Blockchain can be very useful in preventing fraud in the voting process. With the help of blockchain technology, it is possible to vote digitally. Network transparency allows regulators to see if anything has changed on the network. The ease of voting digitally along with the immutable nature of blockchain makes it the best choice for voting.

  1. Safe and secure data backup

Soon, blockchain will be used as the perfect way to backup data. This is because with the increase in the occurrence of hacks, consumers no longer trust the centralized storage provider to store their sensitive data. Cloud storage systems are no longer immune to hacks and even face infrastructure issues. Thus, with Blockchain-based distributed data storage, data storage can for the first time become truly decentralized.

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These are the five most immediate and impactful blockchain applications. However, the uses of blockchain are limitless and many other unique applications are the most likely to happen in the near future.