Summary
There are many applications of blockchain technology and, as discussed in this chapter, they can be implemented in various industries to bring about solutions to existing problems. In this chapter, five main industries that can benefit from blockchain have been discussed. First, IoT was discussed, which is another revolutionary technology in its own right. By combining it with blockchain, several fundamental limitations can be addressed, which brings about tremendous benefits to the IoT industry. More focus has been given to IoT in this chapter, as it is the most prominent and most ready candidate for adapting blockchain technology. Moreover, applications in the government sector were discussed, whereby various government processes such as homeland security, identification cards, and benefit disbursements can be made transparent, secure, and more robust.
Furthermore, issues in the finance sector were discussed, along with possible solutions that blockchain technology could...