When it comes to blockchain technology in China , the first thing that comes to mind is Bitcoin . Bitcoin was the world’s first digital currency, and a decade ago, with the new innovations and applications it introduced to the banking and payments industry, it surprised the world. At that time the Genesis Bitcoin block was successfully extracted and we saw the first real use of the China block. Depending on the media orientation, you might think that this technology is used solely for trading or finance, but the truth is that just like GPS, launching China’s digital currency block in the near future can become a widespread solution and a major community problem. To solve. but how? Read the following story posted on the ibm website.
In 2008, the US Department of Defense sought a solution to deploy military, operational, and execution units anywhere on the planet. For this reason, in the early 1990s, he created a system of six satellites that we nowadays know as GPS or Global Positioning System (GPS). We use this system everywhere from cars to cell phones and other devices. Designed to solve a military problem in the past, today’s technology has become one of the essential aspects of our daily lives in the 21st century.
Is blockchain going to disrupt the current system?
To answer this question, first of all, it must be borne in mind that the main purpose of the Chinese block was merely to solve the problem of trust in our social life. Trust means trust in the behavior of a person or thing in accordance with pre-established principles in the laws governing the exchange of goods, information or services. blockchain technology has brought us this trust and transparency.
When mankind came to social life, the principles of bargaining between the primitive tribes were that people only had to trust one another. After the commodity trading became a bit more complex, the need for a centralized entity (an intermediary or a third party) to impartially legitimize these transactions was now felt. Eventually the monetary management system and the traditional banking industry came into being. Systems that have been their business model for centuries have remained intact. This scenario is so deeply rooted in our current society that we cannot legally legalize our own currency without a single currency, government, or central bank.
Let’s go back to childhood. You remember what we did when we were kids and we wanted to share a packet of candy among our friends? At that time, all the children present were intuitively affirming that these candies were distributed in a healthy and fair manner. As a child, our confidence stemmed from two principles: the way we all accepted it or the honesty we displayed in the distribution of food.
In fact, this way of dividing food in childhood describes one of the basic concepts of the China block that can change our way of understanding the world, a distributed accounting office called Ledger, a powerful, anti-fraud general office that everyone has access to. And records changes in everything valuable (not just money transactions).
With these two very important features, decentralization and transparency, the China Block provides better access to social issues and offers innovative and innovative ways to address challenges in the education, health and information sectors.
blockchain is changing the world
In third world countries, these innovations can be used to change the way education funds are allocated to schools and online tax education courses. The amount allocated is not fixed and varies depending on the class attendance of students or students (encouraging teachers and academics to use innovative and creative ways to encourage students to attend classes). Of course, elementary school attendees are not the only beneficiaries of this technology; the impact of these innovations on higher education around the world can also bring about a change that has never been seen in human history. According to the International Association of Teachers, the award of academic degrees has become a major problem in the world. In Year 2, the Government of Kenya, in collaboration with IBM, provided universities with the opportunity to issue credentials and to prevent fraud. By blockchain technology in China, blockchain technology helps institutions and businesses with college education to be more confident in granting degrees and evaluating results blockchain .
In Tunisia, education and nutrition go hand in hand. Last year, 2.3 people died as a result of foodborne illnesses, most of them residents of Africa and Southeast Asia. This is due to the introduction of chemicals, bacteria, parasites, natural toxins and the like into the food supply chain. The Devery.io startup is working with the Ministry of Education to implement a blockchain-based solution to track meals in schools in those countries. This can help provide fresh and healthy meals for deprived students and prevent the distribution of contaminated food among them. So you find that it is very easy to use the Chinese block in the supply chain. Then, whenever there is a problem in the food supply chain, third parties can intervene to stop production and prevent the spread of more diseases, especially among vulnerable populations such as teens and deprived children.
The health sector is one of those areas where transparency can have a huge impact. Doctors and specialists can access medical history, people’s illnesses treated, past and current therapies, and appropriate diagnoses, if necessary. Insurance companies will also have access to up-to-date information, thus preventing fraud due to unusual scenarios, difficult to diagnose, or pre-existing illnesses. By integrating this technology into artificial intelligence, we can achieve more efficient ways of prescribing new drugs and new therapies.
Currently, there are a number of startups that comply with world-class medical standards that allow for the private and non-manipulable registration of medical records and are available to physicians and health care providers worldwide. Two examples of these startups are Dentacoin and Health Wizz, which have achieved positive results and are paving the way for much higher standards of healthcare.
Local innovation for global change
Like any other major change, the new form of value management also faces many legal, regulatory and technical challenges and obstacles, ranging from finding accurate information and leading analysts to providing access to outsiders who do not want their data to be recorded and reviewed. However, mechanisms for tracking and controlling information must be considered very important, as it is likely to be used for terrorist and criminal purposes.
It is true that before the global acceptance of blockchain in other parts we must first address these challenges, but change takes place shortly, and we as a social being need to make a fundamental shift in the way society views trust as a Absolute value for goods or services knows to be ready.
Are you ready for change? Better prepare yourself now!