Blockchain is growing little by little, and so is the demand for this technology. Best known for supporting Bitcoin, blockchain technology is accepted by many tech giants like IBM and Microsoft. It appears that IBM was one of the first companies to see this technology as a potential, revolutionary step toward creating a digital ledger. The company not only set an example for many new start-ups, but also encouraged them to try new technology on its cloud for free. Not just IBM, but blockchain technology has made it transparent, decentralized, secure and efficient for many businesses and financial institutions. Here are some of the industries already using this technology. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”?Get the original essayBanking: Blockchain technology is believed to be able to provide access to banking and financial services to billions of people around the world, including those of the third world. countries that don't even have access to traditional banks. Cryptocurrencies like Bitcoin allow people to send money instantly across borders with relatively low fees. Many banks like Barclays, RAKBANK, Currencies Direct, Crédit Agricole have joined the enterprise blockchain network, RippleNet. This blockchain platform facilitates their retail market, wholesale payments and even enterprise market and makes operations more efficient, faster and more secure. Internet of Things: Blockchain technology is being brought into play by big players like Samsung and IBM who are working on a new concept. ADEPT, which is expected to create a decentralized network of IoT devices. This public registry can be used for a large number of devices, eliminating the need for a central location to manage interactions between them. Companies like Powerledger and ElectrifyAsia are also using blockchain to create more transparency and security in energy transfer. Electrify is already working on developing a decentralized energy market that runs on blockchain. Supply Chain Management: With this technology, all transactions can be recorded in a permanent decentralized record and can also be monitored securely, making it transparent. This not only reduces human errors, but also delays. The best part is, it also makes it easier to scrutinize costs, labor, and even waste at every stage of the supply chain. Additionally, the distributed ledger can help verify the authenticity of products by tracking them from their point of origin.Forecasting: Research, analysis, forecasting and consulting, Blockchain technology is set to change the entire approach. Companies like Augur are already planning to create decentralized prediction markets on a global scale. This technology will be able to make it easier to track bets on anything in a decentralized way, from stocks to sports and even elections. Insurance: The global insurance market runs on trust and blockchain is the best bet for this market to thrive. It can be used to verify many types of data in insurance contracts. It can also integrate real-world data with smart contracts. Aeternity is a popular blockchain project that creates tools for the insurance industry. Cloud storage: if a data is available on a centralized server, it becomes vulnerable to human errors, data loss or even.