Is blockchain technology making better world?

by Salman Khan

Blockchain technology can support banks, insurance, medical and pharmaceutical industries, many other sectors. Centralized majority of “trusted third parties” are banks, notaries, signs, and so on. Can be replaced by a distributed network system in the blockchain.

Blockchain technology can be used to enhance drug probity. If drugs can be correctly recognized and traced from origination to consumption, it can save the lives of a billion people every year. DHL is operating with Accenture to create tracing technology based on blocking technology.

We need to reduce the cost of research and surveillance, increase security and trust, and eliminate the flow of misinformation. The technology can add extra verified data to unstructured elements. The check is made by all participants.

The CGS project allows users to trace clothing for a lifetime. It brought together companies such as style, apparel, and customer goods. With this result, customers do not have to rely on balance prices. Blockchain technology allows you to control the strength and suitability of clothing.

IBM works with food companies such as Nestle, and Walmart in the field of food security. Therefore, data about manufacturers, suppliers, processors,  retailers are open not only to stakeholders but also to customers. That way, you can track and view all the food data for each process. Because all members of the foodstuff organization can reach the blockchain, disease items can be removed from the production.

The World Wildlife Fund controls fish and seafood applying blockchain technology. This project, this technology should support in the battle against illegal netting. However, the definitive definition of fish and seafood brings the awareness of seafood wholesalers and retailers, as it tries to check their goods or brand from involving in criminal actions.

In partnership with EverLeader, Burlant Earth Jewelry aims to make use of blockchain technology to correctly trace the source of gold and other gems. This only guarantees the action of the contrasting stones.

Feelium is a great example of blockchain technology. The Feelium offers a targeted stage that will make arrangements easier and safer.