How can blockchain technology be used beyond cryptocurrency?
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Blockchain technology can streamline supply chains, improve transparency in voting systems, and secure digital identities. It’s used in healthcare for secure patient data sharing, in finance for faster, cheaper cross-border payments, and in real estate for transparent property transactions. Additionally, blockchain enables smart contracts, automating agreements without intermediaries, and can verify the authenticity of goods in industries like art and luxury.
Beyond cryptocurrency, blockchain technology can be applied in various domains:
Supply Chain Management: Enhances transparency and traceability of products from origin to consumer.
Healthcare: Secures patient data and streamlines medical records management.
Voting Systems: Provides secure and tamper-proof electronic voting.
Smart Contracts: Automates and enforces contract terms without intermediaries.