Blockchain in 2022

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[{"type":"txt","id":"rich_1648538298436","data":" <\/p>The emergence of Blockchain has taken the world by storm and now it is one of the leaders in revolutionary technologies. <\/p> The whole concept of blockchain was first introduced in 1991 by Stuart Haber and W. Scott Stornetta. The idea is based on the need for tamper-proof documents and ledgers. <\/p> <\/p>Blockchain has made a positive impact in different areas such as the financial sector, governance, cybersecurity, etc. Though the idea may have been for ages, the actual implementation of Blockchain was introduced in 2008. Later, Bitcoin has become the first cryptocurrency and the ideas are in full swing in development and applications.\n<\/p>"},{"type":"txt","id":"rich_1648538298437","data":"This article gives you information regarding the applications of Blockchain Technology in the latest years. <\/p>"},{"type":"txt","id":"rich_1648538298438","data":"Blockchain Digital IDs <\/u><\/b><\/p>Microsoft is trying to develop a single digital ID that relies on the security and reliability of a blockchain network. This is one of the most interesting development projects that is capable of transforming the world. Everyone can have a single blockchain-based decentralized user ID that can be used for everything from banking to healthcare and even can eliminate the need for passports.\n <\/p>"},{"type":"txt","id":"rich_1648538298439","data":"Blockchain in different Devices <\/u><\/b><\/p>While Ethereum is the fastest growing cryptocurrency in terms of last-mile applications, Samsung made a surprising move with its built-in Blockchain Keystore wallet in the new Samsung GALAXY S10 devices. \n <\/p>"},{"type":"txt","id":"rich_1648538298440","data":"Mainstream <\/u><\/b><\/p>Few banks are testing the use of blockchain as part of a bigger financial system and how it can be adopted as a way to process transactions. UBS, IBM, and other stakeholders have a dedicated research wing that focuses on developing blockchain technology for banking. The security measures and tamper-proof nature of blockchain are certainly interesting for banks and other financial institutions.\n\n <\/p>"},{"type":"txt","id":"rich_1648538298441","data":"Smart Contracts <\/u><\/b><\/p>Smart contracts are said to be the foundation for many blockchain applications. A smart contract runs on top of a blockchain network with a series of codes that will be executed when the parameters for the contract are met.\n\n <\/p>"},{"type":"txt","id":"rich_1648538298442","data":"Blockchain has taken over this world with its intriguing features. In the cryptocurrency industry alone, the market is growing at a staggering rate; you can expect to see a total market cap of more than $60 billion by 2024. <\/p>Blockchain Technology will soon bring great changes in the technology in coming years.\n <\/p>"}]

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