The blockchain began to be known as Bitcoin, and in the blink of an eye as the basic technology of virtual currency, its name became known to society.
Where blockchain is considered to be a peculiar technology used in a small part of the IT society, including business owners.
Blockchain is now undergoing further research and development as not only virtual currencies, but also as a revolution in various fields such as medical care, arts, and business scenes. In this article, we will explain the trends of technological innovation in the future, from the basic mechanism of the blockchain.
Blockchain market that matches the size of the domestic medical market
Blockchain has become widely known as a virtual currency represented by Bitcoin, but its history is surprisingly old, and its origin can be glimpsed at the cryptographic society in 1990. Even before the rise of Bitcoin, it can be said that the idea of blockchain has been a technology that has been distributed in a wide range of fields such as academicism and business.
According to a 2016 Ministry of Economy, Trade and Industry survey, the potential market size of blockchain-related technology is estimated to be 67 trillion yen. This is a large market that is about 68 trillion yen in the domestic medical and welfare industry. In this way, blockchain is as reliable as the government adopts it, and is a technology that is expected to undergo further research and development. Take help of bitcoin loophole for trading.
What is a blockchain?
Blockchain is often thought of as a technology for virtual currencies, but it actually lies in the basic technology of communication networks called distributed networks. Blockchain is characterized by a decentralized system. In the past, databases required a server in the center of the system to exchange data. However, using blockchain eliminates the need for a centralized server part to control everything, and instead, all operations are handled by individual users.
Blockchain holds distributed data for each user. It is called a blockchain because a series of transactions is completed by connecting these data in units called blocks.
Since data is distributed in the blockchain, it is extremely difficult for information to leak, and it has high confidentiality. Also, because there is no central server, it is also attractive that speedy transactions can be done at low cost.
The future potential of blockchain
As mentioned above, there is no manager who has full control over the block chain, so it in the future. For example, if you use blockchain virtual currency for overseas remittance, approval and exchange work between fiat currencies, which used to take several days, will be unnecessary.
In 2017, the Japan Bankers Association (JBA) launched the Blockchain Collaboration Platform to test the remittance method using virtual currencies, and began efforts to develop a new financial system. In addition, further research and development of blockchain is ongoing, and the following applications are expected in the future.
Fusion with medical technology and AI
Deep Mind, a British artificial intelligence development company under the umbrella of Google, promoted medical care using AI (artificial intelligence). After that, we adopted blockchain technology from the perspective of protecting the privacy of patient data. This makes it possible to encrypt patient charts, personal data, treatment methods, etc., and track the data provision in real time, and share it with medical institutions around the world as needed.
Improves food reliability
Ali Tomoe Group Alibaba Group, the largest information technology company in the Chinese market, has partnered with the Australian Postal Service and Black mores to develop a distribution tracking service centered on food products using block chains. I am doing.
This system, called the Food Trust Framework, helps improve food reliability by allowing you to start tracking when food safety is compromised and collect it when issues arise. In addition, it is a mechanism that can cut unnecessary costs in the manufacturing and collection process.
Product management platform
Australia uses blockchain to provide product information from agricultural producers to purchasers, contracts, deliveries, payments, and further consumer confidence. We provide a system that can be done at the top.