What is Blockchain Beyond Cryptocurrencies: 22 Use Cases
If you look back at the Evolution of Blockchain, you will find that the technology only came into the limelight because of its association with the groundbreaking element that Bitcoin is.
Bitcoin and Blockchain were the two terms that were used synonymously by a number of people around the world till even some years back. But in the past few years, as the world got clearer with what the technology is about, the space between Blockchain and Cryptocurrency has extended and several best use cases for Blockchain have emerged sans cryptocurrency.
And today, the non-cryptocurrency Blockchain has not just established itself as a technology that Bitcoin is just a subset of, it has also marked itself as the solution of the two problems that all businesses, across industries, unanimously face – Security and Lack of Transparency.
In this article, We are going to look into the top use cases for blockchain in different industries, along with some brands that are transforming the question – what is blockchain technology to what are the use cases for blockchain technology in business and life.
Let us briefly look back at how far the use cases for blockchain technology be tracked, how it is done by blockchain development companies and the route it has charted for itself in the blockchain evolution timeline graph.
Blockchain Technology Timeline
As you can see in the Blockchain Technology Timeline above, the tangent on which Blockchain is walking is an answer in itself to all the naysayers who doubted its worth and called it a hype that would soon die.
The direction in which Blockchain is headed in and the direction it started from is a sign of how far and fast the benefits of the disruptive technology have been accepted and added in a number of processes across a range of different industries, something that we have detailed in our handbook curated especially for businesspersons, called Entrepreneur’s Guide to Blockchain.
Benefits that come attached with the use cases for Blockchain technology have not gone unseen by the industry leaders. The discussions that were earlier focused on Bitcoins and Cryptocurrencies have now been fixated on to the Blockchain technology.