Brazil Records First-Ever Blockchain Birth Certificate
Blockchains are normally associated with cryptocurrencies, such as Bitcoins, Ethereum, Ripple, Litecoin, and many others. However, blockchains and cryptocurrencies are really two separate topics. The first cryptocurrency, Bitcoin, adopted blockchain technology for recording transactions simply because of the reliability of blockchains. A blockchain is a distributed ledger that appears to be hacker-proof.
Once a record is recorded in a blockchain, it can never be altered or deleted. Most blockchains have multiple copies available online and each copy serves as a backup copy to all the other copies, making it (probably) impossible for hackers to delete all of them simultaneously. Most blockchains are also visible to everyone over the internet although there are a few exceptions.
Blockchains are now being used to record all sorts of important transactions and events, including financial transactions, real estate sales, and legal transactions. They have also moved into other important functions, such as tracking the purity of drugs during manufacture, tracking the origins of all sorts of food items, and creating digital identities of human beings. Even Walmart has been working with IBM on a food safety blockchain solution and requires all suppliers of leafy green vegetables destined for Sam’s and Walmart to immediately upload their data to the blockchain during each step of the delivery process. Some people believe that blockchains will soon be used to identify which voters are eligible to vote in public elections, thereby reducing or possibly eliminating election fraud.