Science And Technology Museum

Development Prospect of Block Chain

by Miles Warren
January 22,2021

All walks of life have begun to use blockchain technology. At present, the concentrated application is mainly reflected in the following industries. Financial industry, shared economy industry, Internet of Things and other industries. Let's discuss the development prospect of block chain technology.

For the financial industry, the application of block chain technology is useful. It can solve the problems in financial transactions. Such as transaction trust and transaction security. The future of the financial industry can be upgraded through blockchain technology.

Let both parties to the transaction to freely carry out various economic activities. No need to resort to a third-party credit intermediary. There is no need to worry about security and privacy. To a large extent, reduce the cost of transferring assets on a global scale.

Blockchain technology is applied in the field of Internet of Things. It can quickly and efficiently solve communication and identity issues. Authentication and data storage are well resolved.

A double-chain system is adopted to deal with the payment problem between the two systems by building a channel. Let the public chain and the private chain play their respective roles. To achieve the purpose of increasing transaction speed and volume.

The use in the supply chain can be well illustrated. For the supply chain, it is a series of transaction nodes. It is the whole process of connecting products. From the supply end to the sales end to the terminal.

The supply chain has gone through many links from production to sales to products. Once the block chain technology is in place, the transactions will be recorded permanently and centrally. This can greatly reduce time delays. Costs and the occurrence of manual errors are also reduced.

Everyone knows that medical institutions often need to securely share data on various platforms. This requires better data cooperation among data providers. Only in this way can there be more accurate diagnosis and more effective treatment. To help better improve overall abilities. Such as upgrading the medical system and providing cost-effective medical services.

The application of blockchain technology allows hospital patients and all parties on the medical benefit chain to share data. It is in the network established by the blockchain. And there is no need to worry about the security and integrity of the data.

Block chain can be applied to information problems. Many issues that everyone cares about can be roughly divided into security and traceability. That is, the issue of product anti-counterfeiting.

Block chain technology can promote the reform of information security technology in the future. Let people prevent information from being tampered with and can be traced from the source.

The block chain has always been adhering to the idea of a "consensus mechanism". It can effectively realize the course of network evolution. That is to evolve from information network to value network. These are in line with the objective needs of insurance development. In terms of data technology, if modern insurance applies block chain technology, it can meet many of its needs. It is of great significance to the long-term and deepening development of the insurance industry.

  • Miles Warren
  • January 22,2021

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