The Utilities of Cryptocurrencies and Blockchain in the Real World

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Some are of the notion that crypto is just overhypedthat it is of no or fewer usesSome believed that crypto being a virtual currency has very limited usesHoweverthe truth is that there are many uses of crypto in the real worldAnd as technology advancesthere are many innovative possibilities for the usage of crypto in daytoday activitiesThese are very few of the uses of crypto in daytoday business activities.

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International Means of Payment
Cryptocurrencies facilitate cross-border paymentBanksInternational companiesLocal companiesIndividualsand even visas do businesses using cryptocurrenciesIn a case of warwhen the means of economic activities have been broken downcrypto can come in handyA very good example of this is the case of UkrainePeople from all over the world have made 120,000 donations to Ukrainethe worth of which is $100,000,000All these donations were made easily and with less or no transaction chargesIt is also faster than the traditional meansAvivah Litanan analyst from Gartner firm said that if the donation were to be done through the traditional meansit would have cost a lotThere are 30of overhead charges and 15of reconciliation fees.
Crypto
Some Few International Companies Using Blockchain to Solve Problems Related to Their Product
WalmartLouis Vuitton Moet Hennessy (LVMH), and Renault Motor company use blockchain technology to solve problems in their productsWalmart uses hyperledger to track the supply chainLVMH build a blockchainpowered chip to protect its customers from fake productsAnd the Reunault motor company uses blockchain to device tamper proofs.

Massive Means for Storing Data
Blockchain has provided a better means for storing dataAndstored data can be retrieved from eartheven in the case of a space missionfaster than the centralized one.

Blockchain Technology, the Next Level of 3D Graphics Rendering
The aspect of rendering 3d graphics is one that we could wish if it can be done fasterBlockchain can employ the GPUs of computers on the network to share the rendering processesThese services can be easily paid for using cryptocurrenciesSome movies such as ‘Ant Man’, and ‘Captain Marvel’ were rendered using this method.

Cryptocurrencies and blockchain have many more usessome of which include the use of crypto in insurance and real estateFlight Delay Insurance Fizzyis a program built on the Ethereum networkIt triggers an instant payment to customers in case of flight delay.

 

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