Unique Ways Blockchain is Being Used
Blockchain is an industry that a lot of us might not understand. If you have heard of it, your immediate thoughts might be drawn to bitcoin or some other of cryptocurrency field of work. Although that’s the major place where it’s being used, blockchain technology is making its way into many different areas of life.
There are countless ways this technology is being used, but we’re going to highlight some of the more unique ones that you may not have been aware of. It can be fun, technically challenging, and it may even be a little mind boggling.
Entertainment professionals are constantly integrating the latest tech trends into their play books. Musicians are using smart contracts to make sure the sharing of their work is fair and legitimate. These contracts help artists get paid immediately based off of pre existing agreements that have been made. One business that’s doing this is Ethereum. Ethereum created a program called Opus that specializes in music streaming. Through this service it promises artists will get the proceeds from their work forever with a never ending contract. These musicians can choose what they are offering, and the price of the songs. Blockchain is used for these transactions and file storage. Another company called BigchainDB has created a way for artists to track and verify record of ownership of their work. Blockchain is granting artists the credit they deserve. There’s no need for a middle man anymore, they can work directly with the source to ensure their work is getting distributed in a safe and fair way.
Ridesharing apps like Uber and Lyft have helped us to take some stress out of our daily lives. Traveling can be hard and there’s a-lot to coordinate but ride sharing apps have helped to ease some of the pain. A newer app called Arcade City uses a blockchain system so drivers can establish their rates and the blockchain will keep track of all interactions.
On a smaller scale, tourism is being impacted by blockchain too. Hawaii is using the technology to encourage tourists to shop and use bitcoin as a form of payment with the hopes to attract a broader audience.
The jewellery industry is much different from others, and diamonds are in a league of their own. The De Beers Group, one of the largest diamond groups, is integrating blockchain into their security program. It keeps a digital record of every diamond on file, and, for ethical reasons, where the diamond was sourced from. This helps to keep things organised, so no diamonds can be switched, and a lesser diamond can not be confused with or sold for a higher price than it is valued. It’s a great way for the company to keep track of their products, and helps ensure their customers they are getting exactly what they are searching for.
Cities are using blockchain to advance both technology and the all around wellness of their citizens. It can be used for voting for example. To keep records secure, count reliably, and just simply make sure everyone is who they say they are, blockchain can help. Using this technology to trace votes cast, means the government and its voters could have a backlog of the votes and nothing could be changed, with no new votes coming in or others going out. It’s a great way to ensure accurateness and safety. It can also help to keep an updated registry of stores and businesses in the area, and can be used for payment within those businesses. It can help fight fraud and create smart contracts as well. A city is a place where blockchain can really shine because it can make an impact in so many different ways.
Blockchain is making its way into all facets of life, both business and recreation. It’s important to stay up to date on these trends and what’s going to happen in the future. It doesn’t seem like this technology is slowing down, so if you can, try to start integrating unique technologies into your life to see if it makes a difference. Sometimes one small change can impact a lifetime.
Sara Carter, Co-Founder at Enlightened-Digital