The Blockchain is the robust technology. So people started to use it in finance applications. Here is a blog post on how Blockchain Technology works.
The blockchain is agnostic with respect to the data it stores. Hence, the range of data being stored in the blockchain and the range of its application areas are as wide and as diverse as human activities themselves. Here are the areas where you can expect a lot of development jobs in Blockchain Technology.
10 Blockchain Applications
- Payments: Managing ownership and transfer of digital fiat currencies.
- Cryptocurrencies: Managing ownership and creation of digital instruments of payment that exist independently from any government, central bank, or other central institution.
- Micropayments: Transfer of small amounts of money that would be too costly by using traditional means of transfer.
- Digital assets: Managing creation, ownership, and transfer of digital items that have value in their own right or represent valuable goods in the real world.
- Digital identity: Proving identity and authentication based on unique digital items.
- Notary services: Digitizing, storing, and verifying documents or contracts and proof of ownership or transfer.
- Compliance and audit: Auditing business activities of people or organizations in regulated industries in an audit track.
- Tax: Calculating and collecting taxes based on transactions or on sole ownership, reducing tax avoidance, or double taxation.
- Voting: Creating, distributing, and counting digital ballot papers.
- Record management: Creation and storing of medical records.