Blockchain Project Ideas

In This Article, We Explore How The Blockchain Technology Can Be Useful In A Variety Of Industries. The Current Blockchain Space Is Fast Moving And Continuously Overflowing With New Projects That Make The Sharing Economy Accessible To All.

Before We Tell You About Some Of The Blockchain Ideas, Allow Us To Say About What Precisely The Blockchain Technology Is And Why Industries Are Steadily Adapting This Technology. You Can Read Some Of Blockchain Technology Use Cases.

What Is Blockchain?

The Blockchain Is A Decentralized, Public Ledger Of All The Cryptocurrency Transactions. It Is A Distributed Ledger Technology (Dlt) For Maintaining A Permanent And A Tamper-Proof Record Of Transactional Data. The Functionality Of Blockchain Is Managed By Computers That Work Under The Peer-To-Peer Network.

 To Put It In Simple Terms, Blockchain Is A Digital Ledger Of Transactions, Unlike The Ledgers We’ve Been Using For Hundreds Of Years To Record Sales And Purchases. Although, It Functions The Same Way As The Traditional Ledgers; Recording Debits And Credits Between People.

The Core Concept Of Blockchain Is That It Holds The Ledger And Keep A Track On Who Verifies The Transaction.

Also Read, 8 Benefits Of Blockchain To Industries Beyond Cryptocurrency

A Block Is The Part Of Blockchain Which Records All Of The Transactions. The Block Finds A Permanent Database Once The Records Are Completed. Every Time A Block Is Completed, A New Is Created. Many Blocks Are Connected, In Chronological Order.

The Technological Innovation Behind Bitcoin Is The Blockchain Technology. Bitcoin Eliminates The Third Party Interference Of Process Or Storing The Payments; It Is Completely Decentralized, Which Means It Has No Central Authority Over It.

Now That You’ve Known What Blockchain Is, Time To Learn About Some Blockchain Ideas Of 2018.

International Money Transfer(Finance)

 It Is A Tedious Task Of Transferring Money Smaller Amount Overseas. Western Union Might Come As A Better Option For Sending These Amounts. It Acts As The Middlemen Who Transfer Money To Its Offices Globally. The Services Offered By The Middlemen Charge A Commission Somewhere Around 10% Or Maybe Even More.

At Present, The Blockchain Technology Is Transforming The Way Money Is Being Transferred Across The World; The Sending And Receiving Money Is At A Lower Fee. Bitcoin Was The First To Change The Way Money Is Being Sent To People Across Different Countries. Ripple Is Next In The Line To Provide Users From All Around The World With The Same Facility.

Stock Market(Finance)

The Very Plausible Thing To Get Out Of Blockchain Is To Have Companies Register, Issue And Trade Shares On A Platform Based Out Of Blockchain Technology. This Allows Users To Buy Shares Of The Company Using Digital Currencies.

An Online Retailer Like Overstock Has Now Started To Issue Shares Through Blockchain Technology.

Also Read, Energy Company Engie Teams Up With Maltem Consulting Group To Establish Blockchain Studio 

Medical Records At Maximum Security(Health Care)

Due To The Lack Of Viewing The Complete And Health Records Prepared By Doctors, Nurses And Health Professionals As They Are Limited To The Care They Provide.

The Blockchain Applications Come In Handy Here, Because The Medical Records Can Be Documented Safely On The Blockchain. In Order To View The Records, It Must Be Either You Or An Authorized Person To Be Able To View It. 

Registry Of Land 

Maintaining A Country Registry Of Land Ownership Is A Tad Bit Expensive, Also Involves More Labor Work.

A Secured Blockchain Platform Called Ubitquity, Became The First To Launch A Real Estate Record Keeping. The Platform Records, Track Title And Other Such Property Records; Thereby Reducing The Future Search Time And Increasing The Transparency Level. 

Renting Out Parking Space

It Is Difficult At Times When Renting Out Parking Spaces In Areas That Are Densely Crowded. With The Blockchain Technology, You Can Easily Locate, Pay And Secure A Parking Space Way Before Reaching The Area. 

Owners Can Rent Out Long-Term Parking Spaces That Are Unused When Renting Out Places While They Are On Vacations. The Owners Help Out Other Drivers Who Are In Need Of Some Temporary Parking.