Posted: 29.06.2021 | 09:38
Uses of Blockchain
Blockchain technology, whose beginnings date back to the 1990s, gained value with the supply of Bitcoin (BTC). In fact, due to the fact that it has been revived with the crypto money system, it has been mostly evaluated for financial systems, but it has very different application areas. Blockchain is based on trust in the relationship between parties. Since there is no need for high-cost security, it increases system efficiency and minimizes time loss. Thus, Blockchain offers many opportunities to increase the performance and security of different organizations in the sector.
It is possible to ensure the authenticity of the data related to the Blockchain network, which will be used to record and follow the entire process of creating and distributing the materials in a supply chain network, and it is possible to place the payments on a system open to the public or the relevant sector. Thus, they will create a fast, efficient, reliable and transparent interaction space.
With the new world order integrating our lives with technology, the concept of identity is transferred to the digital environment and stored in a central structure and presented in a controlled manner. Since identity sharing with the Blockchain system depends on the consent of the person, identity definitions will be realized as secure and verified only by sharing the requested information.
KYC Process (Know Your Customer)
On the Blockchain network where customer information is kept; information with the customer's consent; It is transferred quickly and safely to the requesting institution. In this way, every change made is reflected simultaneously in all institutions that have permission to access this information. In this way, a significant efficiency is achieved on customer transactions.
The feeling of insecurity caused by the closed structure of the traditional donation system creates a repellent effect on people. A blockchain system donation structure provides a safer, more transparent and uninterrupted transaction opportunity. With Blockchain's public registration system, people confirm whether their donations reach their source, and provide the necessary environment of trust.
Since the rapidly increasing data flow in the health sector is extremely slow, there are too many data errors and systemic slowness. By means of Blockchain, information flow between institutions can be realized in a very fast and secure way, thus preventing systemic blockages.
Blockchain's distributed network technology provides security, transparency and efficiency between individuals and organizations in all areas of use and meets the need for trust. Thus, Blockchain technology will be an efficient transformation not only in the financial sector, but also in almost every part of life with the usage areas in these examples.