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Monday, December 10, 2018


Hello everyone, in this new post I will review the Blockchain as a future technology, and for this the following explanation:

Not limited to financial activities

The sector that first explored the blockchain is certainly the financial sector. OCBC Bank, for example, conducts transfer pilots between Singapore and Malaysia branches which are proven to only take 5 minutes. Santander Bank, one of the largest in the UK, projects that this technology can save bank operational costs of more than US $ 20 billion per year. In its development, blockchain technology was also utilized by other sectors.

Sony Global Education collaborates with IBM to publish articles and diplomas on the blockchain network so that they cannot be falsified, damaged or lost. In the health sector, implementation is carried out on a broader scale by several countries, one of which is Estonia. Records or medical records of one patient at hospital A can be accessed by hospital B when the patient is admitted to hospital B, in a short time because it has been recorded on the blockchain network.

In the food sector, IBM collaborates with food producers and distributors to reduce contamination in the global supply chain. Through the blockchain, food transactions around the world can be gathered massively, so if there is a case of food contamination, it is very easy for the relevant authorities to trace the source and carry out rapid isolation. Another example is Alibaba working with Pricewaterhouse Coopers to help resolve China's food security. Ernst & Young's accounting and consultancy firm, in a different case, launched a blockchain platform to facilitate shared car ownership schemes or shared car ownership schemes.

Thus blockchain technology is basically a 'digital transcript' created to avoid fraud, but at the same time allows access for third parties as needed. Technology that is still very young is indeed not yet applied in all fields and various experiments continue to be carried out by many companies. But I believe in the future, blockchain technology will change the way the system works as a whole, in the financial sector as well as all industrial sectors. This system is believed to be effective to encourage the realization of transparency, security and accuracy of transaction data.

This article has been aired on Kompas.com with the title "Blockchain Technology, Future Technology", 

Hopefully this information can provide benefits for those of you who are indeed looking for developments in blockchain technology.



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