Alternative Uses Of Blockchain Technology

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Alternative uses of blockchain technology

Nowadays technology advances faster and faster, it is increasing. One of the technological tools is blockchain, this development aid since its use is also directed to the commercial field can also be seen that it has other uses.

Blockchain is a technology, this is a block chain where the information ensures because this information that is desired to keep in these blocks is encrypted by means of the hash, it has a unique code that will not be repeated again and avoids bad manipulationFrom this, because this block chain stores the information in a decentralized way, that is, in the block chain where the information is stored, it cannot be manipulated or corrupts because it is located in each of the blocks.

The scope of Blockchain technology in Bolivia revolutionizes so that the information after being analyzed is exchanged maintaining the integrity of the information provided and is finally stored, in the institutions this is necessarily used by public entities, optionally the entitiesprivate. Access for the review of the data provided without third -party intervention.

Technology is necessary in all areas, Blockchain has different uses, in different areas, this is not restricted. One of the uses is at the level of health, for example in medical records, insurers, hospitals, maintaining privacy and avoids different frauds. The financial sector is seen with many advantages since data review, Blockchain reduces the time in corroboration and obtaining information immediately. The advantages created in the legal area, for example in the realization of contracts and their respective control to comply with the agreement not only be unilateral. In the defense area access depends on a consensus to avoid equipment or networks. In government entities they will be able to avoid delays, corruption, reduce time and help in interdepartmental communication to increase the transparency of previously authorized information.

In conclusion, the use of blockchain should be mandatory in all private entities as it is for public entities, also for the increase in information security and to reduce the time to avoid any type of corruption in the information providedgenerally in entities for an optimal result.