Financial and Non-Financial Applications of Blockchain

Abstract

There are hundreds of technologies today. Companies and brands continuously try to create and bring something innovative in the market to attract consumers to them in order to get a rise in market share. In the world where people have started getting used to hundreds of technologies, if asked about those which have affected them the most in last ten to twelve years, no one will miss mentioning blockchain. Blockchain has gained very much popularity after the introduction of bitcoin and ethereum in its environment. Blockchain mainly has two types of functionalities. One that involves transactions and the other which talks about contracts. This work highlights some of the very much talked about applications of this technology in the real world. The work also considers various factors and methods by which this technology can be introduced to the audience by suggesting ways in which blockchain can be introduced in the lives. Discussion on how this technology can affect human lives in the future is also an important part of this paper. Because blockchain has huge number of applications that the paper has tried to inculcate, it can be a technology of future which many scientists and industrialists have already started to believe. That is why this work finds a unique and all in one collection of applications and possibilities of Blockchain.