How the Blockchain Technology Is Becoming a Part of Our Lives

How the Blockchain Technology Is Becoming a Part of Our Lives
How the Blockchain Technology Is Becoming a Part of Our Lives

Blockchain is a technology, which is still at the peak of global popularity, and numerous projects based on it are already being integrated into various areas of public activity.

Let us take a look at several timely and quite interesting Blockchain-based solutions, which are being developed or are about to be integrated into private and state institutions in 2019–2020.

Indian “Blockchain District”

Location: Hyderabad (Telangana), India.

Field: Finance, scientific research and state administration.

Idea: Supporting startups and developing the Blockchain infrastructure as a whole.

Executor: Tech Mahindra Ltd conglomerate and Telangana State IT Department.

Technology: Eleven01 protocol.

From the outset, India has positioned itself as a country that understands and accepts crypto currency and other Blockchain developments as a true technological leap. Thus, it is not surprising that the majority of crypto startups were created there. Despite the fact that, at one point, the government adopted strict measures to regulate this industry, Indian developers are still some of the most active and ambitious. The implementation of the “Blockchain District” serves as a direct proof. Such projects illustrate how Blockchain can improve the social and state infrastructures.

Decentralized Bitbon System

Location: Kharkiv, Ukraine.

Field: Finance, research and development.

Idea: Reforming and stabilizing financial systems, developing new methods of investment and commercial activities.

Executor: Simcord Technologies.

Technology: Modified Ethereum Blockchain, DSL (domain specific language) programming language.

Ukraine is also among the countries with good prospects for rapid crypto industry development. A number of bills have been created to ensure free operations with digital money. In a country, where Blockchain is being actively studied, tested, integrated, as well as the legal environment for such economic relations is being created, you can confidently state that, in a few years, the number of Blockchain companies and Blockchain-based businesses will increase. And the Bitbon System is one of such projects whose universality allows solving the majority of issues related to the outdated economy model. Additionally, the System’s multitasking nature not only provides a platform for transferring property rights, but also gives almost every participant of the Bitbon System the opportunity to realize his/her potential as a crypto investor and/or entrepreneur.

Decentralized “Green” Energy Sales Platform

Location: Shanghai, China.

Field: Renewable energy.

Idea: Exchanging the surplus of independently produced electricity among the owners of solar batteries without outside interference.

Executor: Fudan University.

Technology: Hyperledger.

China has long been considered to be a flagship for innovative discoveries, and with the emergence of Blockchain, this country was among the first to adopt it without any doubts of its prospects. Taking into account the population size and living standards in this country, it is quite obvious that this technology will be used not only in the financial sector, but also in the field of conservation of natural resources. Environmental situation in the world is one of the most hotly discussed topics in society, but, unfortunately, not every country can allocate funds to maintain and improve ecological conditions. And projects like the “green” energy sales platform can significantly influence the level of its consumption, which will positively impact the environment.

Safe Genetic Information Storage Platform

Location: Republic of Korea.

Field: Medicine.

Idea: Providing safe storage of genetic information.

Executors: Macrogen, Inc., Bigster Technologies.

Technology: Unknown.

Korea has greatly contributed to studying Blockchain: the Ministry of Science has financed large-scale studies in the field of digital industry. For this purpose, the government has allocated approximately $200 million. Aside from studies, crypto projects relating to various areas of social and economic activity of Korea are being formed and tested one after another. Genetic information storage platform is a prime example of socially relevant projects. Due to such concepts, medicine along with other scientific branches can make a confident step forward.

Employee Expenses Compensation Platform

Location: Shenzhen, China.

Field: Human resources management.

Idea: Optimizing and improving processes relating to employee expenses compensation.

Executor: Tencent, Inc.

Technology: TrustSQL platform and WeChat app.

It is yet another unconventional Chinese project that will make it easier to carry out accounting duties. There is no doubt that optimizing the work process not only makes the time employees spend at work more comfortable, but also increases the effectiveness of the work process, which benefits both the employee and the employer.

Digital technology development is rapidly gaining momentum, and it is very likely that, in five to ten years, the community will drastically change most interaction processes making them more convenient, effective and secure.

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