What is the most useful application of blockchain, besides cryptocurrency and finance?

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Noahjames7
Posts: 1
Joined: 28 Feb 2022, 15:15

What is the most useful application of blockchain, besides cryptocurrency and finance?

Postby Noahjames7 » 28 Feb 2022, 15:18

There is no doubt that blockchain technology came into existence because of bitcoin. But nowadays, blockchain has far-reaching potential beyond cryptocurrency. Blockchain offers various applications in today’s era such as capital or financial markets, insurances, Real Estate, and it has been used on a large scale in the public sectors as well. That’s why a well-known blockchain solutions company produces wide-level projects and generates more revenue than ever before. Capital markets becoming more secure and fast with the uses of blockchain. Blockchain-based systems improve the capital market and identify many benefits such as Consolidated audit trails, Operational improvements, Faster clearing and settlement, and more. Smart contracts in blockchain are beneficial for the insurance sector. These contracts allow customers and insurers to manage claims in a transparent and secure manner. Moreover, blockchain is also widely used in the activities of real estate. On average, the homeowner sells their home every 5 to 7 years and 12 times in their entire lifetime. So it’s clearly proven that house selling or buying is the frequent movement. Blockchain can speed up the housing buying and selling process by checking finances, reducing fraud through encryption, and providing transparency.

VicTisoy
Posts: 3
Joined: 30 Sep 2022, 19:48

Re: What is the most useful application of blockchain, besides cryptocurrency and finance?

Postby VicTisoy » 01 Oct 2022, 19:54

The question of what is hedera hashgraph can be answered briefly. Hashgraph is a distributed ledger technology that has been described as an alternative to blockchain. Hashgraph technology is currently patented, is used by the Hedera public ledger, and there is a grant to implement the patent as a result of the Apache 2.0 patent grant license, if implementation meets the terms of the Apache license. Or read the detailed response by going to the link.


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