While talking about technology, an inevitable term we can hear is “BLOCKCHAIN”. Some of the questions that come to our mind on hearing the word BLOCKCHAIN is: “What is Blockchain?”, “Where is Blockchain used?”. We can hear people saying that Blockchain will be the future of the modern world. To explain this further, the best way is to discuss some of the use cases of Blockchain used today.
APPLICATIONS OF BLOCKCHAIN:
1) Blockchain use cases in healthcare industries:
Healthcare faces major challenges in patient data management. Medical histories are often stored separately by different healthcare providers, making it difficult to access complete patient information. This can lead to medical errors.
Solution: MedRec
MedRec, developed on the Ethereum blockchain, is a decentralized system for storing patient records. Patients can control access to their data, sharing it securely with family members, guardians, or healthcare professionals. MedRec ensures:
- Data confidentiality
- Ease of access from anywhere
- Reduced medical errors
Blockchain technology in healthcare is helping both patients and professionals by improving data management and overall care quality.
2) Blockchain use cases in banking:
Despite modern technology, international money transfers remain slow and expensive because they pass through multiple banks. Blockchain can simplify this process.
Solution: RippleNet
RippleNet uses blockchain to provide fast, secure, and low-cost global money transfers. Key benefits include:
- Transactions settle within seconds, even for millions of transfers
- Extremely low transaction fees (0.00001 XRP)
- High security and scalability
Many banks and financial institutions are already leveraging RippleNet to enhance transaction speed and reduce costs.
3) Blockchain use cases in the retail industry:
Blockchain is revolutionizing retail operations by improving product transparency, loyalty programs, and fraud prevention.
Key Applications:
- Product Provenance: Blockchain tracks products from origin to delivery, ensuring authenticity and quality. Example: tracking meat from farm to plate.
- Digital Loyalty Programs: Retailers can manage all loyalty points and rewards in a single blockchain-based wallet.
- Fraud Prevention: Blockchain helps track luxury items and prevent counterfeit products. Example: Everledger tracks the origin of conflict diamonds.
Blockchain ensures trust, transparency, and efficiency in the retail sector..
Career Opportunities in Blockchain
Blockchain technology is in high demand across industries. According to Glassdoor:
- Blockchain-related jobs have increased by 300% in the past year.
- Jobsite Hired reports a 517% increase in demand for blockchain software engineers.
Top Blockchain Jobs
- Blockchain Developer
- Blockchain Data Scientist
- Blockchain Architect
- Blockchain Project Manager
- Blockchain Designer
- Blockchain Quality Engineer
With this high demand, salaries in blockchain careers are above average, reflecting the scarcity of skilled professionals.
Why choose LIVEWIRE?
LIVEWIRE, a division of Asia’s largest training CADD training company provides quality training in Blockchain course from experts pan India. We focus on Ethereum, Hyper ledger, Solidity programming and more needed to start a career as a Blockchain developer. You will be provided with an Internationally recognized course completion certificate and a Global Competency Certificate along with your training. This can give you a head start to your dream job.