Blockchain Application Development Services
Blockchain- 'the heart of digital transformation', is a secured, flexible and encrypted digital shared ledger that not only manages contracts and financial calculations, but also links automation and applications.
It allows business processes and data to be shared across the organizations by decentralizing the procedure, thereby promoting overall decentralization. Blockchain applications that first began in the finance industry have now expanded to government, healthcare, manufacturing, supply chain and many others.
Blockchain 1.0 - Bitcoin/Currency
Cryptocurrency is the first implementation of distributed ledger technology (DLT). It allows financial transactions based on DLT through the Internet of Money- Bitcoin.
Blockchain 2.0 - Smart Contracts
Ethereum blockchain aims to execute Smart Contracts to reduce the cost of verification, execution and fraud prevention. They are independent computer programs that automatically execute predefined conditions.
Blockchain 3.0 - DApps
DApps have decentralized data storage and decentralized communication channels which run on centralized servers. A DApp has the front-end/user interfaces written in any language, running on decentralized storages such as Ethereum Swarm, whereas the back-end runs on a decentralized peer-to-peer network. The front-end can make calls to its back-end like in a traditional app. DApp = Frontend (hosted on Ethereums Swarm) + Smart Contracts (running on Ethereum)
Blockchain 4.0 - Blockchain for Industry (4.0)
Blockchain 4.0 is making Blockchain 3.0 usable in real-life commercial usage. Some real-life scenarios are for supply chain and approval workflows, safe and secure IoT data collection, payments and financial transactions, and fitness and health management.
Automotive: Track and transfer of ownership, and delivery of goods and services without the need for intervention
Education: Data Storage around assessments, degrees, transcripts, etc.
Supply Chain: Allows a transparent process for shipment tracking, deliveries, and progress among other suppliers
Government: Manages personal identity information, criminal backgrounds and e-citizenships authorized by biometrics
Energy: Decentralized energy transfer and distribution are possible via micro-transactions of data sent to the blockchain
Retail: Tracing of transactions, bills of lading, etc. on blockchain
Healthcare: Data warehouse for electronic medical records, accessed and uploaded via biometrics
Travel & Hospitality: Data storage of authenticated travel-ID on the blockchain