BENEFITS OF BLOCKCHAIN TO INDUSTRIES BEYOND CRYPTOCURRENCY


Recently heard about Bitcoin and Cryptocurrency? You might have thanked for all the discussions around the record-breaking exploitation of Bitcoin. It is almost realistic to think that, in 2011, Bitcoin traded for $ 1 each. Recently a bitcoin was worth $ 16,000. As an entrepreneur, you can not be interested in buying bitcoin or any other cryptocurrency as an investment. But you have to appreciate the underlying technology that makes bitcoin possible - Blockchain. In the words of the common man, Blockchain is a virtual, public account holder who records everything in a safe and transparent manner. Unlike banks facilitating transactions with traditional currencies, blockchain allows free transfer of Cryptocurrency through a decentralized environment. Then all data are organized in an embedded network of computers, owned and operated by none other than users. For some people, blockchain technology is much more promising than cryptocurrency, which was designed to support it. Of course, the demand of bitcoin is huge at this point in time. But since it is basically not supported except for the expressions, it is reasonable to believe that the bitcoin bubble may eventually pop up - though this is not possible. However, the benefits of blockchain are large enough to retain their relevance for future generations. Without further, blockchain's most important benefits are here which can be useful for businesses in various industries: Supply chain management, Smart contract, Voting , stock Exchange, Energy supply and Peer-to-peer global transactions