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Blockchain Technology Has Reached Sectors That Are Beyond Crypto

Blockchain Technology

The most talked about technology in the 21st century is predominantly blockchain technology. The wider aspect of the possibilities that blockchain brings has been dormant as the exploration had not begun yet. With the mass adoption of crypto and how the asset sector is making use of the blockchain technology has piqued the curiosity of the people from other sectors. Now that multiple industries are embracing the technology in a wide range of fields, that includes healthcare, logistics and financial services, blockchain has finally spread its wings beyond the crypto domain.

The use cases and the understanding of data that blockchain brings are only a few reason for the hype behind the technology. Some of the other reason for the rise in demand for the technology are its characteristics of being decentralized, transparent and its capability to increase the capacity of a whole network. Not only that, blockchain also makes it possible to give a window for solutions that usually require significant computational power.

The most important thing that blockchain makes possible is that they provide a capacity to the users to control their assets, which includes their data, without looking for any third parties.

With the blockchain technology evolving, companies across the world are looking for ways to find the best opportunity to implement the technology for a range of applications. To gain more insight, here are some of the reasons blockchain is being used in different sectors.


There are some of the functions that blockchain does well. They are:

With the unique deliverables of blockchain, let us take a look at the different use cases to understand the future of blockchain in healthcare.

Additional Read: Top Blockchain Startups & Projects In 2023

Luxury Brands and Blockchain

Aura Blockchain Consortium, which was founded with the sole purpose of allowing the luxury brand buyers to authenticate their products, has been able to do so due to blockchain’s feature of providing end to end tamperproof data. By making use of Aura, Prada has been enabling clients to trace their recycled gold jewelry and diamonds. This step is helping the buyers ensure the authenticity and transparency of the product at every step of manufacture.

Intro to AuraAura is based on the Ethereum blockchain and uses Microsoft Azure, while the project’s traceability smart contracts and blockchain infrastructure were developed by ConsenSys.

Blockchain and Supply Chain

Here are some of the benefits that blockchain provides to the supply chain;

Read More: Biggest Crypto Scams You Need To Know

Source: Cointelegraph 

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