# Application of blockchain

**Published by:** [ysj](https://paragraph.com/@ysj/)
**Published on:** 2021-11-10
**URL:** https://paragraph.com/@ysj/application-of-blockchain

## Content

When a new technology is invented, the most important thing is that it can be applied. Now when it comes to the application of blockchain, the first thought is perhaps bitcoin. However, in addition to the application of bitcoin, blockchain can also solve the problem of distrust between people. It can save a lot of certification and verification costs for various industries such as finance, insurance and medical treatment, which is also the value of blockchain. For example, in the traditional insurance claim settlement, the insured must first apply for medical records from the hospital and then submit them to the insurance company. In order to verify, the insurance company has to spend time and labor cost to check with both the hospital and the insured. It takes a long time for the insured to get the claim settlement after all these procedures are completed, If the medical records are put on the blockchain, because the information stored in the blockchain can not be tampered with and mutual distrust is eliminated, the insurance company can immediately start the claim settlement, making the claim settlement more efficient and saving costs. In the tourism industry, people now like to book hotels and flights through a third-party platform, for which additional commissions need to be paid. However, there are often situations such as no room or price increase after arriving at the hotel, where relevant parties shirk their responsibilities and some comments are fake. Based on the characteristics that cannot be tampered with, the blockchain will undoubtedly provide the best solution to these difficulties, Every user in the database can upload and obtain tourism data. Once a transaction occurs, the blockchain will record relevant information. The whole process will be more transparent and can effectively eliminate the dilemma in traditional tourism. In addition, the application of blockchain in the whole supply chain will solve the mistrust between suppliers. In the food industry, blockchain can make the whole process of food birth transparent and effectively improve food safety. Some people say that the invention of blockchain will be greater than the Internet. Now there is a blockchain technology frenzy all over the world. Blockchain applications have been extended to many fields such as digital finance, Internet of things, intelligent manufacturing, supply chain management and digital asset management. At present, many countries around the world are accelerating the development of blockchain technology

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