Different countries have begun to regulate cryptocurrencies, but China, for example, has vigorously promoted the blockchain technology used in cryptocurrencies. This episode will show you the industries where blockchain can be practically applied.
Using a blockchain website can significantly save users time, money, and effort, enabling them to conduct cross-border digital transactions in a secure and trusted manner.
01 Insurance industry: improve the speed of approval and settlement of claims
Some insurance companies in Taiwan have improved the transparency of underwriting data with blockchain technology. They cooperate with the hospital network and, under the authorization of the insured, let the hospital directly transmit the information required for the insurance claim application to the insurance company, speeding up the process. time to process the claims process.
02 Medical industry: fast access to medical records for treatment
The smart contract and other technologies that emerged due to the blockchain have led to the paperless consent signing function. The user can sign the consent form using the private key of the blockchain certificate stored in the application. The consent form will be stored in each node in the blockchain network and will not be tampered with.
Even if a patient goes to another hospital to be diagnosed, the doctor of the hospital can quickly obtain the medical records of the previous patient in the blockchain network to assist in treatment.
03 Copyright: Instant Profit
Creators can use the blockchain to record the creative process, upload the creative process of text, pictures, or audio to the blockchain, and with the help of smart contracts, the copyright ratio distribution of the co-creators is established, and the profits can be instantly distributed to the creator’s account middle. Blockchain technology not only speeds up content authorization but also makes data safer with the blessing of digital encryption while protecting the copyright rights of creators themselves.
04 BSN + dXn = ?
The China National Alliance Chain BSN was launched last year. The members of the BSN alliance include the State Information Center, China Mobile, China UnionPay, and Red Date Technology, and have 136 city nodes around the world, of which 6 are overseas, including Singapore.
On the other hand, dXn announced to become the platform’s exclusive service platform in Hong Kong and Macau and launched the portal website digixnode.io.
dXn will provide the market with a subscription-based service, which is launched in the form of a monthly fee, with low operating costs, close to the current cloud services. BSN has been launched in the Chinese market, and domestic use cases include financing institutions such as banks that can use this technology to approve SME loans, speeding up the process and approval time.
Developers can use BSN to connect to the Chinese market and to connect to multiple nodes of the platform around the world. Chinese users can use this platform to conduct music licensing transactions with Southeast Asian customers, which is especially helpful for cross-border trade.
The platform has been used in smart cities, e-government, and even plans for the Greater Bay Area to become an international arbitration center, all of which are helpful, such as the exchange of legal documents.
If you want to know more, please visit the website of digiXnode: https://www.digixnode.io/