There are several applications of Blockchain Technology. Some of them have already been implemented by their respective industries, and many others are in their development stage. A few of them are mentioned below:
Undoubtedly, the most widely implemented use of the Blockchain Technology today is related to Cryptocurrencies and Digital Currency.
For Smart Contracts
In the modern era, contracts such as wills, online money transfers, financial and asset transactions, etc. are vulnerable to cyber attacks and frauds. Smart Contracts is the best solution to this problem.
In Software Development
The Blockchain has a lot to offer to the Software Development industry. This holds good for both Web Application Development & Mobile Application Development.
In Cloud Storage
With the aid of Blockchain Technology's Cloud Storage feature, one can be assured of his/her online data security.
For Digital Identity
Blockchain Technology can also be implemented for managing people's and organizations' identity through the digital platform which may help in preventing frauds at a considerable level.
For Digital Voting
Digital Voting is yet another notable and revolutionary application of the Blockchain Technology. This is because the electronic voting systems can become victims of the online hackers, thus resulting in a bias election result. But if the if the Blockchain Technology is implemented here, then there's no way the encrypted ledger can be played around with!