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Author: Admin | 2025-04-28
Are recorded accurately and securely. Land registry is another area where Blockchain shines. Georgia’s government is a prime example, using Blockchain to maintain a tamper-proof land registry. This reduces fraud and makes property transactions more transparent. Even tax collection is getting a Blockchain boost. Argentina and Estonia’s government are leading the way in collecting taxes from businesses more efficiently and transparently using Blockchain.Other ApplicationsBeyond the above-mentioned sectors, Blockchain finds its way into intriguing spaces. Consider non-fungible tokens (NFTs). These are like digital certificates of ownership. They’re used for unique digital items, be it art, music, or rare in-game items. Think of them as digital collector’s items. Identity management is also being revolutionized. Apps like SelfKey allow you to manage your digital identity securely on a Blockchain, reducing the risk of identity theft. And for the Internet of Things (IoT), Blockchain provides security. The IOTA Foundation is developing a Blockchain-based IoT network where devices can communicate and share data securely. This means your smart home gadgets and connected devices are less vulnerable to cyberattacks.Are Bitcoin and Blockchain Technology the Same?Even though these terms are often used interchangeably, they are not the same. Let’s explore their differences and relationship.Key Differences Between Bitcoin and Blockchain:1. Bitcoin– A cryptocurrency.– An application of Blockchain technology.– Functions as a digital currency.2. Blockchain– The underlying technology behind Bitcoin.– A distributed and immutable ledger.– Records all Bitcoin transactions through a network of computers.Understanding Blockchain Technology:– Distributed Ledger: Blockchain is decentralized, with data stored across multiple computers.– Immutable: Data
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