What are the fields in which blockchain is being put to practical use? Explain the benefits!

Blockchain, which has become widely known by Bitcoin (virtual currency). In particular, the technology is prominently used for information technology innovation in the financial industry called FinTech . In addition, Estonia, a Scandinavian country bordering Finland, has already built its own system that applies blockchain technology, and is called an “IT advanced country”. It is expected that this trend will continue in the future, and hot eyes are being drawn from countries around the world, including US.

This time, apart from difficult stories such as blockchain technology and detailed mechanism, I would like to dig a little deeper into the “expected role of blockchain”.

Various worlds where blockchain is being put to practical use

We would like to introduce specific efforts in the following fields where blockchain technology is being actively put into practical use.

Financial industry

In the financial industry, where the examination and demonstration experiment of blockchain introduction started early, as the coined word FinTech , which is a fusion of the financial industry and technological innovation, shows, IT is used to lend and transfer money to customers, and online. We provide services such as settlement and asset management . At the same time, we are developing a remittance system using blockchain and issuing our own virtual currency, and investing in start-up companies that are already doing so.

In the United States, in the early 2000s, there were online payment services, services that provide card payments by attaching a small card reader to a tablet, and online loan services. Around 2008, when the Lehman shock occurred, the conventional financial services were reviewed, and the growth of the financial industry expanded due to the active introduction of technologies such as AI (artificial intelligence) , big data , and blockchain. It is said that he did.

Banks also have complex processes for managing currencies. Since each process requires a lot of human resources and costs, replacing the currency that was previously managed by humans with a blockchain not only ensures safety, but also greatly improves operational efficiency and reduces costs.

All creations, such as photographs, illustrations, and web design, are copyrighted. When an author wants to claim a copyright on a creative work, he / she must apply to the Agency for Cultural Affairs in US and register it at the expense of time and money.

In 2017, United, Inc. of the United States released ” Binded ” , a service that realizes copyright management on the Web by registering copyright on the blockchain . You may have heard the news because several United States companies have announced their investment in this service. Binded mainly manages the copyright of photos and illustrations on the Web, and provides a service to register creations and issue certificates. In addition to being intended for creators, Binded is easy for anyone to use for free if registered, so it is also an advantage for photographers and tezinas who are active individually to reduce the financial burden.

With the progress of electronic data conversion of books and music, the barriers to the introduction of blockchain are low, and it is expected to play a major role in copyright issues that are often taken up in the news these days.

In addition, practical application in such fields

Of the block chain non-falsification of and transparency, data of the authenticity of taking advantage of the characteristics of the block chain, such as, administrative agencies, including the insurance and real estate, such as trust management industry to the foundation of the, manufacturing, distribution, medical activity is expected in areas such as It has been. Demonstration experiments and trial introductions have already begun in some areas.

Why is blockchain technology actively used?

As the times progressed, the needs for “I want to exchange data in a safe environment” and “I wish I could exchange money smarter” have come to occur in various industries.

Based on this trend, some industries have started studying and demonstrating whether the blockchain originally created to operate virtual currency (bitcoin) can be applied to other fields. Attention is being focused on the characteristics of blockchains that can realize virtual currency (bitcoin) transactions, such as “distributed ledger technology” that does not require an intermediary or administrator, and encryption technology that prevents data tampering. It was.

Since then, blockchain technology has been developed so that it can be applied to applications other than virtual currency (bitcoin), and is actively used in the various industries mentioned in the paragraph Various worlds where blockchain is being put to practical use. We are expanding the field of utilization.

By the time blockchain technology has improved and blockchain names have become widely known outside of cryptocurrencies (bitcoin), consumers will also be able to enjoy various benefits.

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