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Blockchain was originally invented in 2008 for Bitcoin.
By 2030, blockchain is expected to generate over $3 trillion in business value.
Ethereum, launched in 2015, popularized the concept of smart contracts.
The term "Web3" refers to a decentralized internet built on blockchain technology.
Blockchain transforms finance by enhancing transaction security and efficiency while reducing fraud. By cutting out intermediaries like banks, it lowers fees and speeds up transfers, making it especially beneficial for costly and slow international remittances.
In healthcare, blockchain can be used to secure patient data and facilitate better data sharing among medical professionals. Patients can control access to their medical history stored on the blockchain, ensuring privacy while allowing doctors quick access to a complete health overview, which is vital in emergencies.
Blockchain increases transparency and traceability from production to delivery. Companies can track every step a product takes, from the raw materials' origin to its arrival at the consumer's doorstep. This helps combat counterfeit goods, verify ethical sourcing, and quickly pinpoint the source of a recalled product.
Blockchain enables secure and transparent voting by recording each vote as a transaction, creating an immutable and verifiable record. This enhances trust in the electoral process by preventing the alteration or discarding of votes.
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