In addition to cryptocurrency, the use of blockchain! | Author: Dwayne D’cunha | The Capital | June 2021
Having a physical ID is common, although it is a very old way to verify someone’s identity. These can also be easily stolen or abused for malicious behavior. A major problem with ID is that you need to use different IDs in different places, which is very inefficient. If you synchronize the database, having a virtual ID will eliminate the problem, which will only display the required data. For example, your work ID and driver’s license can be linked, so you don’t have to carry two separate IDs. Although there is a valid security question as to how much data can be accessed by people who need to be authenticated from a database of information about you.
In a world filled with content all the time, it has become very difficult to come up with a law to ensure that there is a balance between fair use and a thorough copy of someone’s work. Every social media platform with a certain profitability must figure out a way to solve this problem. Unsurprisingly, they have been unable to mediate this problem. When someone is trying to claim something you created yourself, blockchain can certainly help, but it may not be easy for someone creating it on a large scale. This also adds a certain level of uneasiness, because you must ensure that every piece of content you create must be marked to ensure that it cannot be stolen. If this can be done by clicking a button, it will definitely make things more convenient.
However, smart contracts are underestimated because they can be used in licensable media. For example, a singer lends you the ability to play some of their songs at a specified price. Since they are executed automatically, if you accidentally play a song they don’t want you to play, they can also be programmed to stop playing.
The theft and abuse of drugs is a common problem, and the large-scale disposal of such substances requires strict supervision. The smart contract of the blockchain can be used for the transfer of ownership without the involvement of a third party, making the entire process more secure. Writing prescriptions on paper is also not a very reliable way of distributing medicines. In addition to ensuring that appropriate drug supplies are provided and monitored at the same time. With the introduction of automatic vaccines, the number of vaccines to be delivered is determined based on the people who live in a specific area. This can also avoid tampering or falsifying prescriptions and obtaining someone’s medical data, of course, within a reasonable range.