Application of Blockchain in Various Business Areas

Blockchain and Big Data are among one of the most focused technologies that many
companies are currently focusing on as an important agendas. Some of the businesses in
which Blockchain has already played a prominent role to reach success height are mentioned
above in diagram.

Bitcoin was one of the first successful attempt of the Blockchain technology but how big data
helps the Blockchain to build the foundation of any financial business.

The business need in financial services for blockchain is powerful. Imagine a blockchain of
that size which is of huge amount of block data containing a complete history of all financial
transactions which is needed for analysis. Blockchain provides the integrity of the ledger, but
not for the analysis. That’s where Big Data and its accompanying analytics tools come in
handy.

Big data also ensures to maintain the data quality of the huge data that is been present in
Blockchain and also secures the data from any miss use.
Real Life Applications

 Secure sharing of medical data- In Healthcare industry the big data Blockchain
technology can help to secure the sensitive data that is shared between patients and
doctors in the hospital. It enables the personalized data that can be shared in which
certain parameters are established of what data can be shared.
Example BURSTIQ

 Music royalties’ tracking- One of the application known as Mediachain is an

innovative example of Blockchain technology which helps the musician to earn the
money which they deserve. This app helped the musician to enter into transparent
contract and could get royalties for their music.
Example MEDIIACHAIN

 Real Estate Business-The real Estate business is redefined by introducing

Blockchain in which decentralized title registry system where the people can instantly
register themselves or even offer properties which can be purchased using
cryptocurrency.
Example PROPY
 Personal identity security- One of the applications of personal security in which
Blockchain based ecosystem is used in which a person can know who has their
information. User of this application signs a contract with company where they decide
who can share their personal information and how much. If the contract is broken or
an unauthorized source tries to access private data, the individual is immediately
alerted. 

Example CIVIC

 Cybersecurity- One of the application of Blockchain enabled cybersecurity

platform for IoT companies where billions of devices are managed together to self-
diagnose and heal possible breaches.
Example XAGE

References
https://builtin.com/blockchain/blockchain-applications
https://www.finextra.com/blogposting/16596/blockchain-and-big-data-a-great-
mariage#:~:text=Through%20its%20decentralized%20system%2C
%20blockchain,power%20that%20will%20be%20required.
https://hackernoon.com/how-blockchain-and-big-data-complement-each-other-
92a1b9f8b38d