Interesting Facts About the Use of Blockchain

As a rule, people know about blockchain technology as a basis for cryptocurrency transactions that ensures the independence of alternative monetary assets. However, the range of its capabilities is much wider. The distributed registry is used not only in the financial sector, since its characteristics are relevant in many industries and economies. I highlighted some little-known facts about the blockchain:

1. Analysis of the results of scientific discoveries.

Sceintific American publishes about 2.5 million scientific papers each year. Therefore, it is often difficult to track the copyright of scientists, as it is impossible to prove the success of their research. According to statistics, up to 70 percent of all publications contain errors or their results do not correspond to the real situation. By using distributed registry technology, the existing situation can be remedied. The implementation of the blockchain will make it easier and faster to identify data. In the future, research results cannot be rigged or modified.

2. About 270 billion dollars transferred in bitcoins.

The Gartner organization cites statistics according to which, by the end of the last fiscal year, over three hundred million transactions in the amount of 270 billion dollars were carried out in the blockchain.

3. After 6 years, the market capitalization of technological innovations will be $ 60 billion

In 2017, the value of the market for products related to the distributed registry amounted to $ 708 million. Already after 8 years, its price, according to preliminary estimates, will increase to 60.7 billion dollars. The main growth factor will be the service sector.