THE TOP 5 OUT OF THE BOX USE CASES SET TO CAUSE A RENAISSANCE IN THE TECHNO SEGMENT

1
THE TOP 5 OUT OF THE BOX USE CASES SET TO CAUSE A
RENAISSANCE IN THE TECHNO-SEGMENT
2

• Block chain isnt just the new cool word
  any more. Instead of being a fad that would dry
  down someday, Block chain is dazzling the techno
  landscape with some promising out of the box use
  cases. It is a renaissance in the technology
  pool, that doesnt create mere ripples, but is
  set forth to bring about a new churn of
  whirlpools- with an everlasting effect.
• Block chain, as a foundational
  technology, is creating paradigm shifts in
  sharing of transactional data. The outcome is a
  redefined business process that saves a lot of
  time, efforts and money. Block chain technology
  is decentralized, distributed, immutable and
  transparent- as it allows authorized parties to
  view any entry or transaction, made by anyone in
  the network, in the data stored on thousands of
  servers.

3

• Below are the five most interesting and
  innovative use cases of Block chain technology
• 1.     International Currency Exchange
• There are several issues plaguing the
  international remittances, like transfer cost on
  the higher side, risks involved in transactions,
  inadequate methods available for money
  distribution, and requirements of high liquidity
  etc. Thanks to its decentralized and transparent
  nature, Block chain technology has emerged as a
  safer and more reliable method of settling
  international remittances. Bitcoin type digital
  currencies and Ripple styled platforms are being
  favoured by several banks to perform
  international transactions.
•  

4

• 2. Smart contracts
• Smart contracts, one of the most
  innovative applications of Block chain
  technology, is facilitating hassle free seamless
  transactions. Smart contracts are self automated
  applications of computer programs that run on
  block chain technology platforms, like Ethereum.
  Smart contracts are free from loop holes, third
  party interventions, censorship, fraud and wear
  down time.
• 3.Audit trails
• Untampered documents, records of
  conversations and data is crucial for any
  accounting and law firm. Block chain technology,
  in form of its break in proof secure storage,
  ensures that all the files and documents are
  stored safely without any risk of unauthorized
  access or tempering. Whether encrypted or
  unencrypted, the data thus stored is immutable
  and unalterable.

5

• 4.     E-Voting
• The present system of electronic voting
  is secure but not infallible. The entire e-voting
  system is centralized, which means, there is one
  supplier that controls all the databases and
  codebase. This makes the present e-voting system
  unreliable as it doesnt provide the open source
  desired from it. E-voting- enforceable through
  block chain technology can bring in the desired
  transparency and reliability, wherein, voting
  records are uploaded and stored in the reliable
  immutable block chain data storages. Thus, the
  trustworthiness of voting can be maintained.

6
5.Supply Chain Management and Communication
Modern day businesses arent single entity
anymore. It is the multiple partners
business scenario where B2B communications are
an integral part of the package. It is an
ecosystem where businesses survive by
cooperating, partnering and entering business
liaisons with each other. For instance, if we
look through Designs and Branding Strategy of a
retail outlet which is a part of supply chain
system, several big- small businesses supply a
wide range of items to the retail store that
sells it under one roof. Same is the case with
mobile manufacturing companies, which source
several parts from various vendors, and assembles
them all under one roof to make a mobile. Supply
chain ecosystem requires stringent surveillance,
regular checks and tough regulations as it is
prone to thefts and frauds.
7

• Integrating block chain technology into this
  ecosystem is highly beneficial as it provides
  unalterable records of status of each product.

8

• As per Web Design and Development Company
  Block chain technology is a vast sea with
  plethora of options for innovative uses. Its
  numerous reliable applications can bring about a
  revolution in the existing transaction systems.
  These are just five uses- the sea is wide open
  and companies will be casting their nets, as far
  and wide as they can, in the coming future. Block
  chain technology is the promise of a reliable
  future!

9
Related Article 1. CRYPTO CURRENCY A BRIGHT
FUTURE OR JUST A FAD? 2. UNDERSTANDING THE
CONCEPTS OF CONTENT MODELING AND ABILITY OF
CONTENT MANAGEMENT SYSTEMS TO PUBLISH CONTENT
BEYOND WEBSITES   Contact us Mo. No. 91
9783959155 Email - info_at_informaticsmatrix.com Web
- https//www.informaticsmatrix.com/