UPRETS Share | Blockchain in Future Networks and Vertical Industries
Blockchain technology is used in various industries such as energy, finance, logistics, and supply chain as it allows you to carry out transparent transactions. No one can tamper the transactions that were done through blockchain. There is network slicing introduced in the 5G network to meet the various requirements of diverse industries. You can form a network by putting the virtualized network function together and setting up the conditions. It would reduce latency.
The best part of the virtualized network function of a specific network slice is easy to add, update, and release based on your requirements. The APIs are made available to the public; therefore, you must keep the network slice highly secure and trustworthy. The network slicing will accommodate a wide range of security applications. The future networks would be heterogeneous, where you would be directly connected to the satellite network, internet, ocean-based network, and 5G. The major network issue that is faced by people is security and trust.
When blockchain is used in any industry, it helps to attain a high level of security. The usage of blockchain technology with 5G, various industries, and usage with other networks is still in its baby phase. You can use the blockchain in different industries only when the challenges are resolved. The blockchain should deliver incredible performance and must have decentralized schemes for various industries. It is lightweight, highly secure, and is available for the blockchain system.
Different Types of Blockchain Networks
Public Blockchain Network
The best part of the public blockchain is that any individual who is interested in doing bitcoin transactions can join the network. There is a lot of power required to run this network, and there is no privacy in the transactions that you carry out. More importantly, the security system of the network is not so strong. This is the main reason for not using public blockchain by the industries.
Private Blockchain Network
The private blockchain network is similar to that of the public blockchain network. It is a decentralized network, but there is one significant difference in the public and private networks. An organization would monitor the private network. It is the organization that would allow or restrict people from using this network. This decides who all can perform the transactions on this network. They must follow the protocol and maintain the ledger that is shared among the group. It improves the trust and confidence of the people who are taking part in the network. You can have a firewall and host it on-premise.
Permission-based Blockchain Network
Businesses who want a private blockchain network would use this type of network. You can also make the public blockchain network that runs through permissions. It restricts people who can carry out the transactions and how many transactions they can do. The participants must get permission or invitation to join this network.
Consortium Network
A group of companies maintains the blockchain network. There are a few organizations that are selected. Only these organizations can carry out the transactions or gain access to the information on the network. It is best for businesses that want to permit all the participants. Every organization is responsible for maintaining this network.
Various industries that would have an impact on the progression of blockchain technology
Banking
There is transparency to be maintained in banking. The tamper-proof ledger and a high level of trust and security make blockchain usage efficient in the banking sector. Many top banks are using blockchain technology to boost the back-office operations. It also helps the companies to collect payment and make the digital invoicing process automatic.
Real Estate
There is a lot of transparency in the real estate industry when people want to buy and sell the property. The paperwork would take away much time from the investors and sellers. There are chances of the public records being tampered and possible frauds. Blockchain will reduce the paperwork and improve the speed at which the transactions are carried out. It improves the efficiency of the stakeholder and cut down the transaction expenses.
The real estate blockchain would help you keep the record of the transactions, track and transfer the liens, titles, and deeds. It makes sure that every document related to the blockchain real estate is accurate and thoroughly verified.
Healthcare
The breeze of blockchain has blown into the healthcare industry. There are many platforms available for healthcare to share the patient information, but not all are reliable. When there is proper data transfer of data between the healthcare providers regarding the patient, it can help them give the right treatment and help healthcare to deliver excellent care to the people at a cost-effective fee. When blockchain is used, it helps the healthcare workers, payers, and other parties have access to the network without taking a toll on data security and integrity.
Add alt text
About UPRETS:
UPRETS is a platform focused on simplifying investment in real estate.
We are dedicated to providing a convenient, compliant and advanced real estate digital securitization platform for property developers, asset owners and investors globally.
By utilizing UPRETS platform, real estate developers and assets owners can create digital securities for their properties, allowing investors to benefit from the rental dividends and capital appreciation of the properties in major global cities.
Backed by a publicly listed real estate conglomerate (NYSE:XIN) and our award-winning, patented blockchain technology, Xbolt, we bring a network, experience and luxury assets to the platform.
For more information about UPRETS,
visit www.uprets.com
LinkedIn: linkedin.com/company/uprets2019
Medium：https://medium.com/uprets
Twitter: https://twitter.com/uprets_io
Facebook: fb.me/uprets2019
YouTube: https://www.youtube.com/channel/UC5Te7mLRV5mK64tAfqhj_Pw
