Do you know these interesting blockchain applications?

Many people who have heard the word "blockchain" think that it is only related to cryptocurrencies such as Bitcoin, Litecoin, Dogecoin, etc. This technology supports digital currencies and ensures that all transactions are carried out and recorded. But what is stored on the blockchain is not necessarily just currency units, it can be used for many other interesting purposes.

Blockchain is defined as " a tamper-proof system that is distributed across many computers of strangers without the need for a higher authority, a mechanism that directly facilitates trust between individuals ." Essentially, blockchain provides a distributed means to guarantee and verify transactions, thus providing an opportunity to eventually get rid of middlemen.

An important aspect is programmable smart contracts: code stored on the blockchain that is automatically executed when conditions are met. In applications related to financial transactions, using Bitcoin or other digital currencies makes sense for the same reason - in this way, automated and guaranteed transactions can be achieved without resorting to third parties such as banks.

But not all uses are related to payments. For example, Kim Jackson and Zach LeBeau got married on the blockchain in November. Are blockchain marriages effective? According to contract law, some contents will be invalid, but this is a symbolic first step after all.

Many large companies are looking at blockchain as a way to simplify and strengthen supply chains by recording every step of a product’s journey, for example, to ensure food’s provenance.

In other cases, blockchain is used for peer-to-peer exchange or sale. Suppose you have an electric car. When your charging station is idle, you can rent it to other car owners and pay with Bitcoin through smart contracts on the blockchain.

Another use is security automation, which uses code embedded in the blockchain to trigger access or deny access based on the visitor. Because there is no third party involved, no one keeps the "key": the lock comes with its own key, and distributed trust on a shared anonymous network provides security.

There is a company called Slock that provides this service. The owner sets up a deposit account and sets a price for the rental property. The user pays through a blockchain transaction (Slock does not even act as a middleman), so that he can open and close the smart lock with his smartphone. The money can activate the lock, and there is no need for third-party supervision. It's not just startups that have noticed this market. Some big players, including IBM, are also eyeing it.

Everything is decentralized

Bitnation is using blockchain in a completely different way, aiming to decentralise governance through the blockchain. Bitnation is providing victims of the refugee crisis with an emergency digital identity and a bitcoin-based credit card that allows them to receive funds from family and friends without a bank account.

This allows individuals to secretly prove their existence and identity through family relationships, and this information is recorded on the blockchain, just like in a distributed public ledger. This in a way takes on the role of an international notary public. Bitnation works as follows: it generates a QR code or barcode, and you can apply for a Bitcoin credit card by scanning it with your mobile phone. It can be used in Europe and the UK, even if you don’t have a bank account.

Home automation with blockchain

Australian software company Edgelogic shows us how blockchain technology can be brought to the home as a bridge between digital payments and the Internet of Things. For example, when a sensor detects moisture, it reports to the blockchain, and the warning triggers a series of instructions, and the repair fee is transferred from the insurance company to the claim account, and the person will not even realize that there was a problem.

A cryptocurrency generated by human activity has just been launched. Unlike other digital currencies - such as Bitcoin, which requires computers to solve cryptographic problems to "mine" - you can earn Bitwalking dollars just by walking. With Bitwalking installed, the app counts and verifies your steps, and you can earn about $1 for every 10,000 steps (about 5 miles). The money can be spent in online stores or exchanged for cash.

While some ideas may seem like “the solution is here, now we just need a problem,” many are very much on the cutting edge of real-world needs. They redefine what blockchain can be used for — eliminating the need for banks and, in some ways, even governments. Blockchain is clearly about more than Bitcoin and cryptocurrencies, but like all disruptive technologies, where it will go remains to be seen.