New blockchain applications in the real world

The time has long passed when blockchain was only mentioned in connection with Bitcoin and other cryptocurrencies. Since Bitcoin was launched in 2009, blockchain, or digital ledger technology (DLT), has found numerous business applications and continues to do so. The unique qualities of the technology enable it to enhance digital solutions and bring extra capabilities to diverse industries.

Firstly, blockchain is decentralized so there is no need for any central governing authority. This brings democratic control for situations where records need to be equally shared. Once information is written on the digital ledger it cannot be altered, except with the consensus of the entire network. This bestows it a level of security that is absolute, which is something that holds great potential for many uses.