Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
    big data and remote work
    Data Helps Speech-Language Pathologists Deliver Better Results
    6 Min Read
    data driven insights
    How Data-Driven Insights Are Addressing Gaps in Patient Communication and Equity
    8 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: 6 Things You Didn’t Know About The Blockchain Technology
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Blockchain > 6 Things You Didn’t Know About The Blockchain Technology
BlockchainExclusive

6 Things You Didn’t Know About The Blockchain Technology

Many people still don't know about these seldom discussed facts about blockchain technology.

Toni Allen
Toni Allen
6 Min Read
facts about blockchain
Shutterstock Photo License - Lerbank-bbk22
SHARE

Even though blockchain’s been out there for more than a decade, many people still don’t have much of an idea about it. But, we’re here to change that.

Contents
Astonishing Facts About Blockchain1. Blockchain Can Be Used To Authenticate A Research Module.2. The Blockchain Market Will Exceed $60 Billion By 2024.3. World Bank And CBA Issued The Very First Blockchain Bond.4. Say “No” To Corruption With Blockchain.5. It’s Making Media-Buying Much More Transparent.Bonus: It Can Help People Have Digital IDs.Blockchain is Leading to Some Major Changes!

In this blog, we’ll talk about some facts that you probably didn’t know about blockchain technology. So, buckle up your belt and let’s get to reading right away!

Astonishing Facts About Blockchain

If you’re a tech-aficionado, you probably already had an idea about the relationship between blockchain and the decentralized Crypto-trading platforms, like crypto boom.

However, there are some other facts that you probably didn’t know.

More Read

cloud-centric companies using network relocation
Cloud-Centric Companies Discover Benefits & Pitfalls of Network Relocation
How To Use Big Data As Part Of Your Investment Planning
Forget Derivatives – Hedge Risks with Innovation and Integrated Data
Cloud Technology is the New Frontier of Solana Trading
Analytics and the myth of the aha moment

1. Blockchain Can Be Used To Authenticate A Research Module.

According to HEC, almost 2.5 million research papers are done and published every year. But only a few of them get authenticated by an authoritative figure. 

And, that’s why the results of the same are considered to be highly doubtful in most cases.

But, with blockchain, it’ll be much quicker and easier to authenticate a research paper. Also, if someone can integrate AI and machine learning with it, there won’t be any errors either.

2. The Blockchain Market Will Exceed $60 Billion By 2024.

At the beginning, the blockchain market had a share of less than one US dollar. However, as the popularity of Bitcoin went up, its value began to increase as well.

Thanks to that, it had a market value of $708 million in 2017. 

And, as per reports, it’ll grow to be worth over $60 billion within a year or two. The majority of such growth will be driven by the financial and the tech sector.

3. World Bank And CBA Issued The Very First Blockchain Bond.

In 2018, the Commonwealth Bank of Australia collaborated with the World Bank to issue the bond-i, or blockchain-operated new debt instrument.

It’s the very first blockchain-based bond that’s been allocated, created, transferred, as well as managed by using distributed ledger technology. 

And, within two years, it raised A$110 million pretty efficiently. Hence, seeing the popularity of the bond, a secondary market was created to allow trading for the users.

4. Say “No” To Corruption With Blockchain.

Thanks to the design of the ecosystem, blockchain can keep almost each and every data in a subtle block format. Hence, if you need something, you’ll find the same right away here.

This, in turn, can reduce the risk of corruption being made in the same environment. This is one of the reasons so many businesses are using it. However, non-profit and government organizations can use blockchain as well. So, if the government wants, they can use it in the voting system to make it fair and square.

Also, the technology can improve the traceability of a supply chain. Hence, even if something goes missing, you’ll be able to easily discover it as long as it’s implemented in your system.

5. It’s Making Media-Buying Much More Transparent.

Companies like Unilever and Salon Media Group are using blockchain technology to record their ad-buying transactions accordingly. It’s helping them evaluate all of their transactional inadequacies perfectly and taking out the mistakes or errors out of the book.

They’ve already integrated this system into their –

  • Impression data.
  • Contracts. 
  • Revenue, and
  • Data.

However, they’ll add more to the portfolio in the future. So, you can wait till then and check if the technology is working as we’re intending it to be.

Bonus: It Can Help People Have Digital IDs.

According to a report, Microsoft is currently working to develop a blockchain project to offer each individual with an identifier. This, in turn, can be used for –

  • Banking.
  • Insurance.
  • Travel.

… and much more. However, the developmental phase of the same is still in its infancy. So, it might get even better after a while. So, let’s keep our eyes out for that as well.

Blockchain is Leading to Some Major Changes!

Blockchain is quite a mystery to almost everyone, even following a decade of its existence. It is still in the developmental phase, so that’s quite natural. But you can expect to see more and more blockchain in almost every segment available out there in the future.

In any case, we hope we could offer as much information as you were looking for from here. But, if you have even a question regarding the same, please comment below. We’ll try to get back to you as soon as possible. Thanks for reading till now!

TAGGED:Blockchain Explainedblockchain technology
Share This Article
Facebook Pinterest LinkedIn
Share
ByToni Allen
Follow:
Toni Allen is the general manager and editor of WhoIsHostingThis.com, she has two decades of experience running online businesses with a focus on web hosting technologies.

Follow us on Facebook

Latest News

data analytics and truck accident claims
How Data Analytics Reduces Truck Accidents and Speeds Up Claims
Analytics Big Data Exclusive
predictive analytics for interior designers
Interior Designers Boost Profits with Predictive Analytics
Analytics Exclusive Predictive Analytics
big data and cybercrime
Stopping Lateral Movement in a Data-Heavy, Edge-First World
Big Data Exclusive
AI and data mining
What the Rise of AI Web Scrapers Means for Data Teams
Artificial Intelligence Big Data Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

blockchain leads to many successful ICOs
Blockchain

5 Most Successful ICOs Of All Time Conducted Over Blockchain

7 Min Read
the world is responding to changes in blockchain technology
Blockchain

Why Is the World Adapting to Blockchain Technology?

6 Min Read
blockchain and economic development
Blockchain

The Incredible Impact of Blockchain Technology on the Economy

6 Min Read
cryptocurrency industry and big data
BlockchainExclusive

Data-Driven Cryptocurrency Traders Spur the Growth of Other Industries

7 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence
ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?