The American Reporter
Monday, October 2, 2023
  • World
  • National
  • Science
  • Business
  • Health
  • Education
  • Lifestyle
  • Entertainment
  • Sports
  • Technology
No Result
View All Result
  • World
  • National
  • Science
  • Business
  • Health
  • Education
  • Lifestyle
  • Entertainment
  • Sports
  • Technology
No Result
View All Result
The American Reporter
No Result
View All Result

Blockchain in the Entertainment Sector in 2023

mm by Jennifer Ross
January 20, 2023
in Technology
7 min read
Home Technology

The Blockchain Beyond Cryptocurrency

While the blockchain may have risen to fame through the popularity of cryptocurrency, many individuals and industries have already discovered the multiple ways it can be used to improve everything from international payments to healthcare. 

The uses of the blockchain are so varied that it is only a matter of time before we see it in almost every facet of life. Here are a handful of ways the blockchain is being utilized outside of cryptocurrency. 

RELATED POSTS

Bane Hunter And Innovative Technology

The Rise of Gen Z Traders: The Allure of Shiba Inu Coin in the Cryptocurrency Landscape

Money transfers

When it comes to finances, the future of payments in this sector is surely going to be built on the blockchain. International payments and money transfers have already improved astronomically thanks to the technology. 

Banks are now able to automate the process of sending money overseas, which not only cuts out the need for human interference and work, but also makes the transfers faster and cheaper for all parties involved. There is also no limit to the amount that can be sent; you can either send $500 to your family, or a company can transfer millions. 

Securing personal information

While we want to believe that government-run services are secure, they are still prone to hacks and data theft. Keeping personal information safe has become a top priority for people worldwide, and the blockchain can make that happen. 

The blockchain, which is inherently safe and tamper-proof, can store personal information that can then be accessed whenever it is needed. This will enable you to prove your identity for whatever reason, whether it be for voting or for buying a house. 

Voting

Speaking of voting, voting on the blockchain would be far more accessible and also limit the chance of anyone hacking the system or changing any data. Since data on the chain is immutable, any possible changes can be traced back to the IP that made the changes. 

Combined with personal information storage, it will make it easier for people to vote and also ensure that only one vote is cast per identity, eliminating any potential for fraud, as each identity will need to be verified by the holder. 

Logistics & supply chains

Every business, no matter how big or small, understands the importance of a well-oiled and well-maintained supply chain. Not only can one problem spiral, but it can also often lead to businesses losing their edge over their competition. 

The blockchain has already proven to be highly effective at managing a supply chain. It can track in real-time where everything is and keep companies updated; they can know where a shipment of supplies is, as well as watch their products move from the factory to the retailer. 

On the customer side of things, they will be able to verify the authenticity of a product by being able to see what it’s made out of, where it was manufactured, and trace its entire journey from parts/ingredients to the shelf of a retail store. 

Smart contracts

Smart contracts are easily one of the best things to come out of the blockchain outside of cryptocurrency. In simple terms, a smart contract is a series of mini-programs on the blockchain that only execute when the prerequisites for that program are met. 

These terms and programs can’t be changed, and therefore both parties involved in the contract have to complete their parts of it for the contract to be valid. 

NFTs

While NFTs have been getting a bad rap of late, and for good reason, in some cases they do still hold a lot of potential. From ownership of music to video game assets, NFTs can be used to add permanent ownership and value to online creations. 

Game developers want to use the blockchain and NFTs to enable players to truly own weapons, character skins, or whatever else they may have earned while playing their game. Considering many new games are guilty of charging real money for “worthless” in-game items, this type of blockchain system could revolutionize how we play and enjoy games. 

Healthcare

The world of healthcare is so vast it is almost unimaginable, and within that world are mountains of paperwork, both real and online. Connecting a person to their identity and medical history is far more complicated and time-consuming than many think. 

 

Having all of the data available on a medical blockchain will allow it to be accessed by any doctor in any hospital whenever they may need it for you. Combine this with medical devices, and all the data required to treat someone will be right in front of them in a matter of seconds. 

 

ShareTweetShare
Previous Post

Deepdive into the life of Sit Kwong Lam

Next Post

Anıl Ulaş Övençoğlu : Special Projects Introduced by Realtor Global to Russia Real Estate Fair

mm

Jennifer Ross

Jennifer has been a part of the journey ever since The American Reporter started. As a strong learner and passionate writer, she contributes her editing skills for the news agency. She also jots down intellectual pieces from health category.

Related Posts

Bane Hunter And Innovative Technology

Bane Hunter And Innovative Technology

by Jennifer Ross
September 28, 2023
0

As artificial intelligence (AI) technology continues to improve each day, thought leaders in every industry are exploring how to solve...

The Rise of Gen Z Traders: The Allure of Shiba Inu Coin in the Cryptocurrency Landscape

The Rise of Gen Z Traders: The Allure of Shiba Inu Coin in the Cryptocurrency Landscape

by Jennifer Ross
September 25, 2023
0

Generation Z, the cohort born between the late1990s and early 2000s, is making waves in the world of cryptocurrency trading....

Ceph Usage Trends Revealed in Survey

Ceph Usage Trends Revealed in Survey

by Kyle Matthews
September 22, 2023
0

On the ground, people fill brick-and-mortar storage facilities with all kinds of items, whether they’re downsizing homes, stashing personal keepsakes,...

Unveiling the Data Hierarchy: Capitalizing on the Hot Trend of Data

by Jennifer Ross
September 21, 2023
0

According to the most recent NewVantage Data and Analytics Global Leadership (DAGL) survey, an overwhelming majority of surveyed companies have...

ATS Wallet, one of the Top Storage Wallets for Cryptocurrency, has the Backwards Distributed Security Technology

How Crypto Payment Gateways are Revolutionizing Cross-Border Transactions

by Jennifer Ross
September 14, 2023
0

In an increasingly interconnected world, cross-border transactions have become a vital part of global commerce. However, the traditional financial systems...

Next Post
Anıl Ulaş Övençoğlu : Special Projects Introduced by Realtor Global to Russia Real Estate Fair

Anıl Ulaş Övençoğlu : Special Projects Introduced by Realtor Global to Russia Real Estate Fair

The Age of Proof-of-Stake and the Acceleration of Institutional Adoption

The Age of Proof-of-Stake and the Acceleration of Institutional Adoption

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest News

Penetrating the Inspiring Mind of Jack Levine

Penetrating the Inspiring Mind of Jack Levine

September 30, 2023

Mark Trewitt Discusses Investment Secrets That Preserve and Grow Wealth

September 30, 2023

Kentucky Basketball: Top 20 most successful players ever

September 29, 2023

Making Informed Bets: Unveiling the Power of User-Driven Casino Reviews

September 29, 2023

Key Considerations for Investing in San Miguel de Allende, Mexico

September 29, 2023

Unveiling the Reasons Why NewsAnchored is the Go-To Platform in the World of Publishing

September 29, 2023

Zebulun Koenig’s Insight on Aaron Rodgers: The Journey of an Iconic Quarterback

September 29, 2023

Ratnakar Lavu Discusses Building Resilient and Scalable Global Supply Chain Capabilities

September 29, 2023

Bane Hunter And Innovative Technology

September 28, 2023

Tackling Complex Assignments: How Studyfy Helps with Theses and Dissertations

September 28, 2023

EssayHub: Your Trusted Academic Partner in the Digital Age

September 28, 2023

How EssayPro Offers Guidance on Presenting Academic Papers and Projects

September 28, 2023
  • Home
  • About Us
  • Our Staff
  • Contact Us
  • Privacy Policy
  • Editorial Policy
  • Use of Cookies

© 2019 - The American Reporter

No Result
View All Result
  • Home
  • About Us
  • Our Staff
  • Contact Us
  • Privacy Policy
  • Editorial Policy
  • Use of Cookies

© 2019 - The American Reporter

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.