Blockchain technologies are already taking over every corner of the world. That's because of how blockchain technology works. The numerous applications of blockchain technology are because numerous fields require data. Furthermore, numerous companies work with data. Working with data can be very difficult, particularly when the dataset becomes larger. Furthermore, the processing and storing of this data are not done transparently. Therefore, using old technologies such as E2EE encryption (End to End Encryption), combined with the modern power of blockchain, developers can create some amazing products.

Filecoin: Data storage applications of blockchain technology

Filecoin remains one of the most useful projects built using blockchain technology. Though filecoin's mining works based on Proof Of Stake and Proof Of Storage, which differs from the typical value transfer blockchain. This network offers developers the capacity to affordably deploy and scale their applications directly on the blockchain. From a consumer's point of view, though you have to pay for your data, if the developers properly encrypted it, you are looking at the most secure data storage service of the 21st century. The main service rivals that of Amazon Web Services (AWS).

The filecoin network relies heavily on IPFS (Inter-planetary file system) and pinning services that run on the IPFS blockchain.

DeFi

A wide number of Decentralized Financial applications are built on smart-contracts which are built on a blockchain. All of these are real-financial services rivaling those of banks. The core difference here is on power distribution rather than data distribution. This is achievable when a project forms a DAO (Decentralized Autonomous Organization) and has the community essentially own the project.

Healthcare applications of blockchain technology

There are many startups boasting to revolutionize the medical industry with blockchain. Among them, is "Gem", a company that is working with the CDC (Center for Disease Control) to put outbreak data on a blockchain. Through this method, they hope to achieve faster response and more effective disaster relief. On another note, "MedRec" is a company working with MIT to digitize medical records in a private, authenticated way. All are powered by blockchain technology.

Industrial applications of blockchain technology

There are numerous ways in which industries can leverage the power of blockchain. "Provenance", for example, is a project that aims to provide blockchain-based records of supply chains for transparency and authenticity. Storj, offers consumers encrypted storage at affordable costs on other people's hardware. Using the power of blockchain, storj is able to offer competitive prices compared to the big tech players in the industry.

And many more

Governments are entering the space of blockchain technology as well. For instance, the Estonian government plans on moving public records onto the blockchain in cooperation with Ericsson. South Korea utilizes blockchain for transportation and public safety, together with Samsung. Real estate, law, politics, and many more sectors are being revolutionized by blockchain. Unfortunately, seeing as it is somewhat of a new internet, there are far too many topics to cover in one article. Thus, here are some blockchain applications of the technology.