Advancement in technology has brought about series of innovation in the business and financial. It all started with digital currencies the most amazing thing about blockchains is the fact that it is not only used to store monetary units, rather it can be used for other areas.
Digital Identity: Digital identity is one of the blockchains application’s ideas that are currently in work in progress stage. This blockchain application will help to solve the problem of digital security. Blockchains technologies make tracking of digital identity easy and it has helped to reduce fraud.
Smart Contracts: Smart contracts are digital contracts that are entered on the blockchains. These digital contracts are legally binding and are programmable. They are implemented as variables and statements that can help release funds using bitcoin as an executor.
Distributed Cloud Storage: Experts in the technological field have predicted that block chains data storage will become a massive disruptor in the nearest future.
Digital Voting: This is another important blockchain application that is being used for voting. It enables a voter to check that his or her vote was successfully transmitted without revealing his identity to the world.
Decentralized Notary: This blockchain application is used for timestamping. It validates the state of hash (wrapped pieces of data) at a particular time. It helps to ascertain the existence of something at a stated time, this information provided by this application is provable in law.
Top 5 Blockchains Applications Ideas That Are Work In Progress
