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COMPUTERS CAN KEEP PEOPLE HONEST AND TRUTHFUL

   

     The block chain technology can help us to trust strangers.  The highlights of 'Block chain' is given below.

1. It is the blocks-digital information stored in the data base-chain.
2. Thousands of computers in a network verify a block of info.   Say a transaction.  Hence it is 100% authenticated.
3. Anybody can view the info. in the block chain.  But no-body can edit it.
4. Each block has a unique id called 'Hash'.

The process:  Transaction takes place.verified. given unique id. added to chain. cannot be hacked.

     Now we will see some applications of block chain.
1. Copyright:
     By using block chain, musicians and content creators could access real-time and transparent royalty distribution data and would have better understanding of where and how their content is being accessed.  In this 'internet' era, content downloads can be easily monitored and the artist will get their own fair share of royalties.
2. Share 'power' with neighbors.
     Suppose, you generate electric.power using solar panels. You can sell or share it with neighbors using block chain.  Everything will be accounted for.  Companies like microgrid in Brooklyn, powerledger in Australia already uses block chain.
3. Digital Voting:
    With block chain, voters will be able to vote digitally.  This coupled with block chain's immutable nature makes for a secure voting system.  So once a vote is given, it cannot be changed or tampered with.
4. Weapons tracking:
    Using block chain, a transparent and unchangeable registry can be created. It will  allow the government agencies to track weapon ownership.  So Gun control will be a reality.
5. Medical Records:
     One can publish medical records securely on a block chain and allow only authorized  people to access these records from anywhere in the world.  Now best medical care will be possible.
6. Tracking prescription drugs:
    Block chain technology can allow drug makers to track their products by using serial numbers and trace them back to the place of manufacturing.  This ensures that customers are getting authentic drugs, when they pick up at pharmacies.
7. Origin of your meat:
    With block chain technology, you can now discover the origin of your lamb meat and track it from farm to the table.
8. Pay-per-use
     Video content providers charge subscription fees which allows users access to all the content on their platform.  But customers are not interested in all the contents  the 'app' provides and they may want to watch one TV show.  Block chain allows to pay only for the content the users have consumed.
9. Money transfers:
    Funds can be transferred from one party to another with out the mediator, "the bank".  Transaction will be validated 24*7 and settled with in a matter of seconds.
10. Real estate transfers:
    Block chain eliminates paper work.  Block chain can store  transaction or titles, when you buy or sell a land, a house or a car.  It is transparent and gives clear picture of legal ownership

    Last, one wish:
    Suppose, we feed the serial number of 2000 rupee note to the computer and track its travel from bank note press to our wallet, all transactions of the 'Note' will be laid bare and people will fear to receive money under the table. Corruption will be wiped out.
    Use block chain and fear nobody.  Honesty is still the best policy with block chain.
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