The incredible scope of both digital currencies and blockchain technology is revolutionizing the whole world.
Thus the Blockchain technology has attracted many companies those who want a distinct security structure to add as their feature.
Why blockchain technology?
1. This technology eliminates the manual process thus occurs at reduced cost.
2. Increases the speed of transaction and settlement
3. Increases security through the use of cryptography
4. Reduced risk of fraud
Let us have a look at the advantages / scope of blockchain technology,
1. cyber security- cryptography technology is used to verify the data. Thus the data is less likely to be hacked without authorization
2. Eliminates corruption - Through this technology all the information are stored in database which cant be changed/altered at any cost. Thus blockchain adds one more layer of security and eliminates corruption.
3. Banking sector - This technology is highly trustworthy to ensures safe and secure money transfer.
4. Blockchain will removes the 3rd party requirement in the transactions.
5. Health care - Health care services with latest technology is the need for today. The blockchain technology will kept the medical data safe and allows secure communications.
6. Supply chain management - This helps to eliminates human error and time delays.
7. Internet of things -The technology manages the wireless communications between seller and buyer without the requirement of central location.
8. Blockchain in cloud storage - with this technology it is possible to make the cloud storage to protect against attack /hacking.
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