Main areas of application of blockchain technology

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Cryptocurrency
The advantages of implementing blockchain include increased data exchange speed, reduced time costs, improved quality, increased availability and reliability of services, and reduced risks.
Blockchain projects are being launched in various areas: payment services, provision of financial and government services, banking, healthcare, the Internet of Things, logistics and transportation, energy, and intellectual property management.

The main area of ​​application of the blockchain is the crypto industry. The technology serves as the basis for the release of cryptocurrencies, which are essentially the current version of Hayek's "private money". Bitcoin and ether have become global means of payment, going beyond the initial narrow circle of circulation.

Blockchain technology serves as a basis for the issuance of tokens, i.e. a morocco rcs data special form of asset securitization against the background of mass and global investor demand. Tokenization allows for a significant reduction in costs when compared to procedures in traditional financial markets.
Banking
The use of blockchain technology to improve the security and transparency of money transfers, settlements in securities transactions, letters of credit, and to organize routine processes in bank back offices has already become commonplace.

Financial institutions are actively implementing blockchain and achieving a 50% cost reduction. The possibility of such optimization was predicted by Morgan Stanley analysts back in 2017. According to them, blockchain technology will have a positive impact on infrastructure optimization, a radical reduction in costs, and an increase in RoE (return on equity). Although many banks have a conservative approach to organizing their activities, ignoring the potential of blockchain is dangerous: failure to implement the technology may result in being forced out of the market by more advanced competitors.