Blockchain: Real Use Cases

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·@taskmaster4450·
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Blockchain: Real Use Cases
Blockchain received a lot of attention, both positive and negative.  Unfortunately, there is a lot of misinformation out there which is confusing the general public.  It is also having the same effect in corporate offices around the world.

Since few know what a blockchain truly is, they are apt to be misled.  We couple that with cryptocurrency and we see a complete mess.  People have no idea what is taking place.

The mainstream media and the other purveyors of negativity spread FUD around like it is water further causing fear, eliminating the desire to investigate these wonderful technologies.

Cryptocurrency is the first wide spread application for blockchain.  It is an open, decentralized form of money that allows publicly records transactions which is outside the control of any single government or entity.  

Blockchain has a few attributes which make it very valuable.  The first is the data is immutable.  Since the control of the blockchain is not in the hands of a single individual, changes are almost impossible to make.  We are seeing they can happen but a healthy functioning blockchain will not have this occur.  The other aspect is that it is open and borderless.  

In short, it eliminates the need for a third party to establish trust.

The rhetoric is that we do not see real use cases for blockchain and cryptocurrency.  Looking at sites that monitor the DApp activity, we see very little use.  This leads people to believe not much is taking place. 

What most do not realize is we are still very early in the development of this industry.  Over time, as more is available, we will see usage go up.  Eventually, I believe most of the world's activities will be secured using blockchain.  We are just not quite there yet.

I found one article that shows how under the radar developments are taking place.  Governments often find themselves at odds with these technologies yet that is not always the case.  We have an example of a county in the United States that experiments with blockchain and is having success.

Last April, Washoe County starting issuing digital marriage certificates.  These records were secured on the Ethereum blockhcain.  Each person received a link to the document which is accessed using a key.  

<center>![image.png](https://ipfs.busy.org/ipfs/QmewShVxUmdcfPKJ32T8ePSXbwxve9z4XpiTTDo6cmeUTk)</center>

The hash tag generated is unique for each marriage certificate.  This makes forgery almost impossible, especially when compared to paper documents.  

Blockchain is an ideal option for record keeping.  The fact that it is an open ledger means there is total transparency and the blockchain verification process provides authenticity.  In other words, everyone can trust the validation done by the blockchain.

There are now 950 of these marriage licenses issued.

![image.png](https://ipfs.busy.org/ipfs/QmZkeDaPtvh2RLGZF7SZzu3c6urxLcuHdoK9YrTXrqMCVo)

On the other side of the world, in Australia, they are using blockchain to issue driver's licenses.  Actually, this company is working on a host of solutions tied to blockchain.  They private labeled their services so I cannot tell if they set up their own blockchain or are building on top of one like Ethereum.  Nevertheless, it does exhibit how this technology is starting to be embraced.

The situation with SmartLogic does bring up a valid point.  If this company did set up it's own blockchain, what happens if it goes bankrupt?  Does the blockchain still run?  This is where the risk comes in.  In a "private" blockchain, if this is indeed one, trust of the third party is required. 

The difference with the use of Ethereum is that blockchain will keep running.  This is a crucial point.  Unlike the DotCom which saw companies disappear, you are not going to see these major blockchains vanish.  Steem, as an example, is not going anywhere.  Anything posted on the blockchain will always be searchable since there will be Witnesses running the software.  The same holds true for Bitcoin, Ethereum, Bitshares, and any other blockchains with an established standing.  

Blockchain could be an enormous success if it was only used to prevent fraud.  One use case widely discussed is that of land records.  This could be posted on blockchain to verify ownership.  In many parts of the world, people's land is stolen from then simply because of corrupt officials.  Without any documentation, the ones without the guns are out.

When I see advancements like this, I am very confident with what I see taking place on here.  This technology is only going to get stronger as time goes by.  With governments around the world starting to embrace it, we know things are only going to grow.  

At present, we are covering the most basic of applications.  We are seeing the development of a blockchain solution that replaces a centralized one.  The next phase will be the development of things we cannot imagine.  Just like those in the early days did not foresee social media, we cannot see what blockchain applications will be around in 5-10 years.

Nevertheless, it is going to be a wild ride.

I am a firm believer that optimism in this space will be well rewarded.
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