Blockchain and Areas of Usage
The idea behind the technology called Blockchain began to emerge almost 30 years ago. It first began to appear in 1991, but reached its peak in 2009 when Bitcoin was developed.
Bitcoin was created by an anonymous name, Satoshi Nakamoto, by a person or individuals. Although many people claimed to be Satoshi Nakamoto, they have not been able to provide any evidence of this claim. Aside from Satoshi Nakamoto’s identity, the technological revolutions it has developed have greatly affected the financial balance in the world.
Blockchain applications serve as a distributed notebook that records and protects digital information through cryptography. This technology is generally mentioned with cryptocurrencies. But its decentralized and secure nature makes it one of the important building blocks not only for cryptocurrencies but for many industrial sectors.
In this context, Blockchain technology enables the creation of a non-distributed and consequently sequential record. It is used in conjunction with Blockchain to increase security and performance in many organizations and industries (e.g. charities, supply chain, etc.).
The vast majority of systems in the supply chain face barriers to efficiency and transparency. Today’s management system is still far from being based on peer-to-peer trust and without proper integration between companies and parties.
Blockchain technology can be preferred to track the process of material production and distribution from start to finish within a supply chain network. A distributed database can be highly suitable for the secure recording of relevant information, checking that the authenticity of the products is intact, and creating transparency of payments.
On a global basis, many aid organizations face difficulties in many processes. Difficulties such as resource management, operations-based transparency are the factors that force aid agencies. Blockchain technology will greatly contribute to optimizing the funding and management processes in these institutions.
With the integration of this technology into aid agencies, some examples are available today. For example, Blockchain Charity Foundation (BCF) aims to be a sustainable organization combating poverty and inequality. It is a non-profit organization that aims to provide assistance with the contributions of Blockchain.
Investment information, comments and recommendations contained herein are not included in the scope of investment advisory. Therefore, making an investment decision based solely on the information and comments contained herein may not produce results that are in line with your expectations.