Supply Chain Management
In the process of supply chain, this is one of the most proactive areas for the use of blockchain technologies. This way, applications of the blockchain can help companies track the products from the manufacturer to the final customer. Thus the transparency helps in checking fraud because it is difficult for a fake company with fake products to operate in the open market without attracting attention. For example Food Trust by IBM which uses blockchain tracking technology for food retailers and consumers to track food products’ supply to guarantee safety and sustainability.

Healthcare
Blockchain in the healthcare industry can improve the data reliability and patients’ information privacy. Such information as the patient’s health records stored on the blockchain network cannot be altered and available only to … This cuts down the probability of data compromises and the violation of patients’ privileges. Some initiatives such as Medicalchain and Patientory are already applying blockchain in order to enhance the way that information related to the healthcare sector is managed, patient records in particular.

Voting Systems
Another aspect of life that can be improved by the application of blockchain is the voting system; the use of block chain technology make elections more secure and transparent. Through blockchain, the votes can be entered into the blockchain which cannot be tampered with hence certification of the votes counted. Places like Estonia, have already started using blockchain for voting which has enhanced the confidence of the voters and hence the turnout.

Intellectual Property
Most artists and creators are usually challenged when it comes to how they are going to protect the concept they come up with. Blockchain can be useful as an application which will provide the ability to register and confirm ownership. Implementing smart contracts, which are automated contracts coded to contain the A&M agreement’s stipulations, guarantees creators receive reasonable royalties. Such solutions as Codex Protocol are utilizing blockchain for proving and safeguarding uniqueness of art and items.

Real Estate
Looking at the areas that can be enhanced through the use of blockchain technology, the real estate industry is set to experience new heights in terms of compliance and productivity. It is equally understandable that blockchain can help in making property transactions because there will be no middlemen involved. Smart contracts are also capable of enabling processes such as title transfer within a system and can also act as escrow services also. Some firms such as Propy and RealBlocks are already applying the technology in improving real estate deals; a process that is fast and secure.

Financial Services
However, the application of blockchain goes beyond the cryptocurrencies as the financial services industry is being revamped. It has been observed that conventional form of banking is time consuming and costly. Blockchain creates the potential for faster and cheaper international transactions. Also, blockchain can make significant changes in the sphere of financial technology and strengthen the financial operations’ confidentiality and protection. Ripple and Stellar are some blockchain platforms improving the rate of cross- border payment transactions.

Education
Blockchain can be used in the educational institutions to offer verifiable proofs of the attainments of education. Certificates and diplomas recorded on block chain cannot be manipulated, and are easily accessible. This helps in the prevention of fraud and enhances the checking and verifying processes of the employers and other institutions. Some of the ongoing projects include a learning machine, block-certs that are created to offer secure and certified records.

Conclusion
It is greatly emerging that blockchain is not strictly for digital currencies, but for more. Due to its qualities of transparency, security, and efficiency, it is useful in many industries it is applied. To supply chain management, voting systems, intellectual property, real estate management, financial services and education, blockchain technology could transform a lot industries. With increasing numbers of companies and institutions employing blockchain, this potentially has the capability to change our world. Be aware and be ready for what blockchain technology is to bring.

Blockchain Facts: What Is It, How It Works (Click here)