Search
  • Videos
  • Windows 10
  • 5G
  • Best VPNs
  • Cloud
  • Security
  • AI
  • more
    • TR Premium
    • Working from Home
    • Innovation
    • Best Web Hosting
    • ZDNet Recommends
    • Tonya Hall Show
    • Executive Guides
    • ZDNet Academy
    • See All Topics
    • White Papers
    • Downloads
    • Reviews
    • Galleries
    • Videos
    • TechRepublic Forums
  • Newsletters
  • All Writers
    • Preferences
    • Community
    • Newsletters
    • Log Out
  • Menu
    • Videos
    • Windows 10
    • 5G
    • Best VPNs
    • Cloud
    • Security
    • AI
    • TR Premium
    • Working from Home
    • Innovation
    • Best Web Hosting
    • ZDNet Recommends
    • Tonya Hall Show
    • Executive Guides
    • ZDNet Academy
    • See All Topics
    • White Papers
    • Downloads
    • Reviews
    • Galleries
    • Videos
    • TechRepublic Forums
      • Preferences
      • Community
      • Newsletters
      • Log Out
  • us
    • Asia
    • Australia
    • Europe
    • India
    • United Kingdom
    • United States
    • ZDNet around the globe:
    • ZDNet France
    • ZDNet Germany
    • ZDNet Korea
    • ZDNet Japan

How Blockchain technologies are transforming our societies

7 of 8 NEXT PREV
  • Cryptocurrency

    Cryptocurrency

    The most common use of blockchain, or distributed ledger technologies, is cryptocurrency.

    Cryptocurrency including Bitcoin has taken the world by storm, rocking traditional investment and a speculative investment which has worked out well for some, and disastrous for others.

    Published: February 7, 2018 -- 11:00 GMT (03:00 PST)

    Caption by: Charlie Osborne

  • Know Your Customer (KYC)

    Know Your Customer (KYC)

    The financial services industry is one that can benefit from blockchain technologies through streamlining Know Your Customer (KYC) procedures.

    HSBC and the Singaporean government, among others, are testing out ways to improve KYC by allowing banks to securely share customer information without having to go through vetting processes every time there is a switch -- which should, in turn, speed up the process for both issuer and user.

    Published: February 7, 2018 -- 11:00 GMT (03:00 PST)

    Caption by: Charlie Osborne

  • Decentralized financial options

    Decentralized financial options

    While traditional institutions may not be keen on the idea of cryptocurrency removing funds from investments and standard accounting, in some cases, taking transactions out of corrupt systems or those in which individuals cannot easily secure a bank account, potentially through a lack of existing infrastructure, can control their finances.

    In areas such as sub-Saharan Africa, blockchain technologies have the potential to improve businesses and individual finances, such as through microlending.

    Published: February 7, 2018 -- 11:00 GMT (03:00 PST)

    Caption by: Charlie Osborne

  • Smart contracts

    Smart contracts

    Smart contracts have the potential to revolutionize the legal tape which binds our financial and asset management systems. Decentralized ledgers can be used to store, irrevocably transcribe, and preserve contracts suitable for legal contracts and asset transactions such as the sale of real estate complete with preserved rules that are agreed at the time of a contract being 'signed.'

    Published: February 7, 2018 -- 11:00 GMT (03:00 PST)

    Caption by: Charlie Osborne

  • Cloud storage

    Cloud storage

    An interesting application of the blockchain is cloud storage and services. Companies such as Storj offer blockchain-based cloud systems which are encrypted and distributed, only allowing access to permitted users, and scalable up to the exabytes.

    Published: February 7, 2018 -- 11:00 GMT (03:00 PST)

    Caption by: Charlie Osborne

  • Identification

    Identification

    Tech giants including Microsoft and Accenture are among many exploring how the blockchain could be used to verify our identities in the future. ID cards, passports, and more could be a thing of the past if our identities. Current tests are focused on refugees and ways to give them an ID they can show to access services including education and healthcare.

    Published: February 7, 2018 -- 11:00 GMT (03:00 PST)

    Caption by: Charlie Osborne

  • Voting

    Voting

    As an extension to identity verification, the blockchain may also one day be utilized to make sure those voting have the right to do so. We haven't had the best of luck when it comes to electronic voting systems, but as distributed ledgers are extremely difficult to tamper with, it may be possible to come up with a system which removes miscounts and corruption.

    Published: February 7, 2018 -- 11:00 GMT (03:00 PST)

    Photo by: Wikimedia Commons

    Caption by: Charlie Osborne

  • Smart cities

    Smart cities

    Smart cities rely on connectivity, the Internet of Things (IoT), sensors, and analytics to improve the efficiency of urban areas. Blockchain technologies may also have a place by offering neutral and transparent ways to scribe government records and deals, as well as for information exchange and urban planning.

    Published: February 7, 2018 -- 11:00 GMT (03:00 PST)

    Caption by: Charlie Osborne

7 of 8 NEXT PREV
Charlie Osborne

By Charlie Osborne | February 7, 2018 -- 11:00 GMT (03:00 PST) | Topic: Blockchain

  • Cryptocurrency
  • Know Your Customer (KYC)
  • Decentralized financial options
  • Smart contracts
  • Cloud storage
  • Identification
  • Voting
  • Smart cities

We take a look at the surprising uses of distributed ledger technology in 2018.

Read More Read Less

Voting

As an extension to identity verification, the blockchain may also one day be utilized to make sure those voting have the right to do so. We haven't had the best of luck when it comes to electronic voting systems, but as distributed ledgers are extremely difficult to tamper with, it may be possible to come up with a system which removes miscounts and corruption.

Published: February 7, 2018 -- 11:00 GMT (03:00 PST)

Caption by: Charlie Osborne

7 of 8 NEXT PREV

Related Topics:

Innovation Tech Industry Cloud Security Banking
Charlie Osborne

By Charlie Osborne | February 7, 2018 -- 11:00 GMT (03:00 PST) | Topic: Blockchain

Show Comments
LOG IN TO COMMENT
  • My Profile
  • Log Out
| Community Guidelines

Join Discussion

Add Your Comment
Add Your Comment

Related Galleries

  • 1 of 2
  • Windows 7 concerns, spear-phishing attacks, a blockchain skills drought and more: Research round-up

    All the facts and figures that matter to you and your business from the past month in technology news.

  • 2018's worst cryptocurrency scams, cyberattacks (in pictures)

    Everything from ICO scams to 51 percent attacks has plagued the cryptocurrency space over the course of this year.

  • How to spot a fake ICO (in pictures)

    Initial Coin Offerings (ICOs) are part of the cryptocurrency Wild West, but how do you know what is fraudulent and what is legitimate?

  • AI, blockchain, servers, smartphones and more: Research round-up

    We summarise the charts that tell the tech story of the past month.

  • Top tips for investing in cryptocurrency

    Bitcoin, Ether, ICOs -- interest in cryptocurrency has exploded, but where should you begin?

ZDNet
Connect with us

© 2021 ZDNET, A RED VENTURES COMPANY. ALL RIGHTS RESERVED. Privacy Policy | Cookie Settings | Advertise | Terms of Use

  • Topics
  • Galleries
  • Videos
  • Sponsored Narratives
  • Do Not Sell My Information
  • About ZDNet
  • Meet The Team
  • All Authors
  • RSS Feeds
  • Site Map
  • Reprint Policy
  • Manage | Log Out
  • Join | Log In
  • Membership
  • Newsletters
  • Site Assistance
  • ZDNet Academy
  • TechRepublic Forums