Investors in the United States made over $4 billion in 2020 solely from Bitcoin.
Cryptocurrency has changed the world. Blockchain has far more to offer than exchanging money, however.
Blockchain projects have emerged for nearly every industry. Developers have created solutions to secure records and exchange them with ease. These projects could have potentially changed the world many times over.
Here are some of the different types of blockchain projects that are changing the world.
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Exchanging Medical Records
One of the biggest industries that blockchain can revolutionize is the health care industry. Securing and particularly exchanging medical records has always been a difficult task.
Medical facilities often need to pass records along to other clinics while following HIPAA guidelines. Some facilities have been building blockchain projects to make this process more secure and efficient.
Instead of calling multiple doctors to have your records transferred, you may soon you may be able to do it on your phone or computer with ease.
Registering Property Titles
A challenge in the real estate industry is the verification of property titles. It is a multi-step and often complicated process. However, it is necessary to prevent property disputes.
One of the small projects on the blockchain provides for easier property registration. A decentralized system offers this secure solution. Title verification can be completed instantly, speeding up the transaction process.
The largest password leak in history recently occurred. Bank and email account passwords were leaked, making it clear that something must be done. One of the most interesting blockchain projects may offer the solution.
Password security on the Internet of Things is a challenge. But one project offers a decentralized solution, making accounts near-impossible to hack.
If passwords become obsolete, it can be done with biometric data or other password-free methods as well. This proof of concept has massive growth potential.
Personal Identity Protection
Password theft isn’t the only means for wrongdoers to steal an identity. Another challenge is storing birth certificates, social security cards, and voter registrations. Various government offices and employers must keep these safe.
The state of Illinois has created the Illinois Blockchain Initiative to meet the challenge. Their goal is to secure these documents using blockchain. This is one of the more innovative open-source blockchain projects that could expand to the entire nation.
Non-Fungible Tokens (NFTS)
NFTs may be seen as one of the more basic blockchain projects, given it is the second most well-known after cryptocurrency. But in an era of piracy, it has incredible potential for artists and musicians.
NFTs open the doors for artists that may have not previously had an opportunity to share their work. NFT platforms can create a level playing field for these artists.
Blockchain Projects of the Future
The decentralized capabilities of blockchain projects open a world of possibilities. We’ve only seen the beginning of these proofs of concept.
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