There is no doubt that the first word that comes to our mind when we hear about blockchain is ‘Bitcoin’. For the last 2 years, Bitcoin craze has swept across the whole world and it was the talk of the town where ever you go. But blockchain should not be associated only with cryptocurrencies. It’s a technology ice-berg whose major uses are yet to be discovered by most of the people.
Futurepia Blockchain is one of the fastest blockchains in the world having 300,000 TPS. It recently won the award of ‘Most Innovative Blockchain’ during Leadership Summit in Switzerland. Decentralization and transparency feature that comes along with Futurepia blockchain has the potential and will change the way people/business interact for the better. Here are some of the innovative uses of Futurepia Blockchain.
1. Futurepia Blockchain for Cyber Security
Do you know in 2016, 1 billion Yahoo accounts were compromised and hackers stole the email addresses, passwords, and other private information. The same incident happened last year when the largest security breach in the history of Facebook occurred where accounts of almost 50 million users were hacked. Blockchain, on the other hand, presents the solution.
Blockchain technology works in a way that there is no central authority or storage location. Everyone on the network plays a part to verify the information that is being changed or shared and make sure that correct data is not deleted and false data is not stored. So in order to hack a blockchain, a hacker needs to destroy every user’s computer in a global network.
2. Futurepia Blockchain for Food Industry
Do you know that on October 6, 2006, multiple states in the US faced an E-Coli outbreak that caused millions of damage to lots of farmers? And later on, after 2 weeks, it was found that the incident happened because of just one of the Spinach farms. The whole loss could have been avoided if the food industry was put on the blockchain.
Initially, the idea would look very weird but bringing the food industry on blockchain comes along with many benefits.
- Enhances food safety
- No one needs to worry about “Non-Fresh” food because food can be tracked and the sender can be caught
- Stops food frauds as everything is open to the public and no one could alter the stats for his needs
- Helps to eliminate food frauds
Example: UAE government solved the Halal food certification issue using blockchain. Halal food is the largest food industry in UAE and in order to trace and keep track of halal food products, they launched a ‘halal chain’ to check the information of those products in real time.
3. Futurepia Blockchain for Real Estate Ownership
Blockchain is secure and open-ledger and since it is decentralized, data is not stored at one particular location, rather a consensus is required everytime it is updated. And changing a record means changing the data for every node on the blockchain. That’s why if real estate titles are moved to a blockchain, it would reduce the possibility of fraud or theft. It can be implemented in the following possible way;
A hash is taken of the geo-coordinates along with a polygonial description of the land. This hash is tied to the owner’s ID and the result is hashed again and added to the blockchain. Since the hash is always a unique value, everyone will have a unique ID. Plus, because of the blockchain’s immutability, no one can tamper with the records. Blockgeeks
4. Futurepia Blockchain for copyright protection
Authors and content creators (musicians, video makers etc) always want that their content is well protected and should not be shared illegally. But currently, in the internet world, free copying is almost unrestricted. Futurepia Blockchain has a unique feature of validating digital objects using a global public registry. Using the technologies of timestamping and cryptographic hashes, any digital asset can be traced down to its original author and if someone is violating the copyrights by sharing the digital information without the author’s consent, he can also be caught.
Apart from helping the music, film and arty industry, Futurepia blockchain will also play an important role in authenticating the originality of research papers and avoiding plagiarism. Moreover, the illegal distribution of such scientific work can also be taken care of immediately.
5. Futurepia Blockchain for Voting
Voting is one of the most important factors for any democratic country and the characteristic of a ‘free country’ lies on it. But even the world has moved from 2G — 5G, the traditional ‘paper ballot’ system is still being used in many countries. This system is extremely tedious, time-consuming and can be hijacked easily by the stronger party.
Estonia for the first time introduced Digital Voting System. But the problem with digital voting is that it can be hacked and the results can be altered even by the authorities in charge of it. That’s where the blockchain comes to save the democracy and giving back the true meaning of ‘government for the people and by the people’. Using the feature of blockchain’s immutability, it can and should be used in the future to make the voting process error and fraud-free.
Let us know which one of these uses would really revolutionize the world. And don’t forget to FOLLOW our Telegram Community to stay upto date with the latest information regarding blockchain and Futurepia.