You may have a view of crypto as a means to engage in financial transactions and exchanges online. Or you may very well know about the first purchases in the metaverse that used crypto and were based on the blockchain. There are, however, some of the uses of blockchain and cryptocurrency that will surprise and perhaps even shock you.
Blockchain in supply chain and logistics
Using the blockchain to monitor and control logistics and the movement of freight is being seen as the best way forward for the transport and logistics sector around the world. The increased levels of transparency that the blockchain will provide will allow logistics service providers, as well as the load sender and recipient, to track, monitor and discuss the load in real-time as long as they all have access to the blockchain. It is a use for the blockchain hub, as provided by the crypto Cosmos as explained at okx.com.
Healthcare blockchain applications
Access to shared information is one of the main requirements and of today. Knowledge can be shared on a private blockchain and then accessed and manipulated in a reliable and safe manner. The most sensible use of the blockchain has been to share patient data between pharmaceuticals, doctors, and specialist carers – and all this while preserving the integrity of the said data.
The NFT sector
The creation of non-fungible tokens has made money for people from some of the most simple pieces of art. This has highlighted the use of blockchain tech for media and entertainment as well as art, no matter how good you are at painting. Bespoke pieces of digital artwork, memorabilia, and trading cards are all being saved, shared, and valued using the blockchain – and specifically the Ethereum Blockchain. Tokens are also being used to pay for online entertainment and the various subscription services that you may have.
Real estate and property management
Crypto can be used as a means to finance real estate and property purchases and changes. However, it is the blockchain that can be used to exchange contracts, facilitate simple and comparative property valuation and manage the maintenance of all the buildings involved.
Lastly, it is the blockchain that allows access to the property history and all records associated with the property in question. It is this blockchain tech that has seen profound changes in real estate and allows people from anywhere in the world to access, research, and investigate the complete history of a property that they are interested in.
These are the current applications for the blockchain that serve to surprise many. The notion that the blockchain is only there to serve as a storage or crypto and an ongoing record of all transactions has been debunked, and the truth of the matter for many is that the blockchain is for cryptocurrency – but what was detailed in this article may be regarded as a bridge too far. Blockchain is changing and adopting faster than the cryptocurrencies that it was used to establish.