PART 1

We are at a place where fear of technology (technophobia) and love of technology (technophilia) are both accepted in the same era. If we take an honest review, equal studies support that the technology revolution has both impacts. As a common society member, we are confused should we live with technology or without technology. The fact is that “change is constant” means the natural world is a constant state in terms of change and everything is always changing. Discover by ancient philosophers he believed that change is a fundamental aspect of reality.

We understand from the above logic that we cannot stop technology and digital development because human nature always wants to change. But what we should do regarding the negative impact of technology and digital is to take strong precautions and solutions, right use, and balance between natural life and artificial life.

“Despite the use of Blockchain technology power

We still face threats and corruption issues”

Point noted👉: Share your thoughts on correcting this statement; your opinion is welcome.

A simple guideline on what a blockchain is.

Blockchain is the database technology that is used for accurate and transparent information sharing across the decentralized. In simple words, the information is shared with all involved members, business units, institutes, or whatever the chain is the information will be secure and transparent to share with all parties.

Importance of blockchain development

Yes! We experience technology and digital along with time. They both bring positive and negative impacts in terms of privacy and trust issues. We are growing and keep going, now we are at a place that needs secure and trustworthy solutions that enhance credibility and accountability for a secure future and lives. Blockchain development is the one advanced technology that brings trust by sharing information across different networks.it allows to share information but not allowed to edit the information. In case of change can occur when all parties agree to terms and conditions. Otherwise, any single party or member can change it.

These are the main unique characteristics that enhance trust and accountability among the people. The crucial role make compiling different sectors must adopt blockchain technology. Let’s understand how blockchain plays a role in different sectors.

Need to know blockchain development role in different sectors

1. HEALTHCARE

Blockchain is connected like a chain as the information is shared and unchanged means all members will receive information the same and unchanged and no one can modify it. This facilitation helps secure data exchange and drug accuracy, any false medicine circular, price variation, or any illegal activity related to patient cases or data will be caught. It facilitates better control of the health record and patient care by minimizing twice the amount of treatment and medicine charges practices and monitoring.

• Transparency and efficiency in patient-sensitive data:
  Before the blockchain technology only doctors and teams knew what and how to use patient data in case of the risk of illegal practices course. The blockchain patient can use blockchain and create a transparent, and traceable system at every health record system. Whether a doctor or specialist accesses the data patients know exactly when, where, and why their information is being used.
• Tracking Pharma information:
  In pharma, it helps to improve supply chain management at every step like raw medicine to end users. Every step is surely monitored and checked to avoid any errors. Improve medicine availability in emergency conditions, quality, and measurement control, In case of illegal, fake, or price variation will be visible to all parties.
• Fast response in emergency conditions:
  Around 1 in every 10 patients is harmed in healthcare and more than 3 million deaths occur annually due to unsafe care. According to WHO study research papers? The harm that occurs is caused by the negligence of the health sector. The chain enables hospitals to keep updated on the availability of specialist doctors, medications, and diagnosis technology, near hospital locations.

2. Banking

The adoption of blockchain in the banking sector is just not an advantage but a turning point in the fair transactions records. The blockchain enables banking to provide transparency, better traceability, faster analysis, and faster decision-making. The advantages it more than just benefits like money laundering, illegal transactions, and financial fraud. It detects the origin of the transaction record and solid audit record in case for fraud detection and investigation purposes.

• Secure transactions:
  Every user can view and track the entire transition history, including transaction details, the parties involved, and transition time. Every chain node is connected if any single note is tried to change it will be noticeable to all parties and theft will caught from the origin place. Or any single-party rejection fails the fraud risk.
• Fair regulation:
  Fair regulation refers to the policies and practices treated equally to all terms. In case of emergency or aim of communication the bank contacts convenient time and uses ethical and respectful language. The customer charges only what is authorized set. All records are efficiently maintained by blockchain.
  

3. GOVERNMENT

If we define the government’s role “the government is the primary agent” who takes responsibility for the people and gives quality living standards. Here we do not quote that the only country’s success ultimate factor is the government. However, the government plays a key role in making a developed country through its decision-making, utilization of funds, and enforcing the rules and laws. What if there is no regulation for the government? The blockchain is one of the solutions that enable government regulation of records. It prevents corruption where, how why, and when funds are utilized. Sharing of information between different agencies and parties even in different countries. Collaboration and communication make it easy to deadlines projects and deadlines.

• Increase trust and accountability:
  Blockchain enhances security by creating tamper-proof records. A method that ensures that data is protected from unauthorized change and can be verified as secure. It is used to track transactions and how has access data and when. Tamper-proof records are important for protecting personal data and ensuring that data is only accessed by authorized users.
• Make work smart, innovative, and faster:
  Introduce a new work system of trust and exchange through this users can share information directly from one party to another party without the need of a third party. It records real-time information, cuts off paperwork in bulk, and helps forestry. Peer-to-peer networks make direct communication and faster response without manipulation. Save cost and enable better decision-making. While all parties have real data at the same time they all know what to do and how to do it. This enables them effective decision making with all parties concerned.

Put in a nutshell, technology makes easy life for businesses and people. On the other hand, we cannot neglect the other side of the business application development technology. In terms of cyber abuse, privacy concerns, damage to reputation, fraud, illegal activities, confidential information, and corruption issues. Keeping all concerns of the issues Software services development launched the power of blockchain technology. It caters to all problems related to technology trends along with faster, innovative, and smart work execution. We can adopt blockchain power in different sectors like healthcare, banking, government, and so on. You may also check further information to leverage a better understanding in-depth for a broader-level role in supply chain management, education, and the agriculture industry.

Check out our next blog for detail …..