University of Sialkot

Computer Science Department

Topic:
How BlockChain Technology is Changing the world?

Osama Naseer
23010109-012

Submitted To: Dr. Azeem

1
University of Sialkot

Table of Content
How Blockchain Technology is Changing the World? 3
1· Introduction 3
2· What is Blockchain? 3
3· How Blockchain is Changing Money Concept 3
4· How Blockchain Helps Businesses 3
5· How Blockchain Can Improve Voting System 4
6· How Blockchain is Helping Doctors 4
7· How Blockchain Can Help in Education 4
8· Challenges with Blockchain 4
9· My Thoughts 5
References 5

2
University of Sialkot

How Blockchain Technology is Changing the World?

1· Introduction

Blockchain is an advanced technology that was first used for Bitcoin, but now it is helping many
other areas.· Blockchain works like a big digital notebook that everyone can see and trust. It is a
decentralized system that doesn’t need banks or middlemen to work.· This makes it useful for
things like money, healthcare, and even voting.· Because it is safe and clear, many companies
and industries are starting to use blockchain·

I will explain how blockchain is changing many parts of the world and what good things and
problems come with it.

2· What is Blockchain?

Blockchain is like a list of records, called "blocks," that are linked together. Each block holds
information, and all the blocks are connected in a chain.· The cool thing is that nobody can
change the information once it’s in the chain.· This makes it very safe· Everyone who uses
blockchain agrees on what is true, so no one can cheat.· This is why blockchain is such an
important invention·

3· How Blockchain is Changing Money Concept

Blockchain first started with Bitcoin, which is a type of digital money· Bitcoin doesn’t need a
bank to send or receive money. You can send Bitcoin to anyone in the world, fast and easy·
Other things like **Ethereum** also use blockchain· These can make contracts that happen
automatically when conditions are met, without needing a lawyer[1].

Blockchain is also helping people get loans or trade without a bank· It makes sending money
across the world much cheaper and faster·

4· How Blockchain Helps Businesses

3
University of Sialkot

Blockchain helps businesses by making everything clear and easy to track.· For example, in the
food business, it can show where your food comes from.· If there is a problem, like bad food,
you can quickly find out where it went wrong.· Companies like IBM are using blockchain to track
things like this[3].

This also helps businesses stop fake products· For example, fashion companies use blockchain
to prove that their products are real and not fake.

5· How Blockchain Can Improve Voting System

Blockchain could make voting safer and better.· Right now, voting can sometimes be changed
or tampered with.· Blockchain can help stop that by keeping every vote safe.· Countries like
Estonia are already trying to use blockchain to make voting more honest and fair.· It could also
help people vote from anywhere, which might make more people vote[4].

6· How Blockchain is Helping Doctors

In hospitals, doctors need to see your medical history, but the problem is that records are often
not organized well.· Blockchain can help keep medical records in one place, making it easy for
doctors to access your information safely.· This way, you can control who sees your medical
history.

Some companies like IBM are using blockchain to make sharing information between doctors,
patients, and hospitals faster and more secure[5].

7· How Blockchain Can Help in Education

Blockchain is also helping schools and universities.· Schools can give students digital
certificates that can’t be changed or faked.· For example, MIT gives its students digital diplomas
using blockchain, so students can easily show their certificates to future employers.

It also helps people who learn online or take short courses keep all their learning records in one
place·. This could help more people get jobs by showing all their skills·

8· Challenges with Blockchain

4
University of Sialkot

Even though blockchain is great, it has some problems. First, it uses a lot of energy to keep
running, especially for things like Bitcoin· People are trying to find ways to make it use less
energy.

There are also privacy concerns·because everything on the blockchain is decentralized and
can’t be controlled, people are worried about keeping their personal information safe·
Governments are also trying to figure out how to make rules for this new technology, which is
hard because blockchain works all over the world·

9· My Thoughts

In the future, blockchain could make things faster, safer, and more clear for everyone· It might
help people send money or make deals without needing banks or lawyers· It can make voting
safer by stopping people from cheating· In healthcare, doctors could easily and safely access
medical records· But there are challenges like using too much energy and keeping information
private· Overall, blockchain could change many industries and make things fairer and better·

References

[1] S. Nakamoto, "Bitcoin: A Peer-to-Peer Electronic Cash System," 2008. [Online]. Available:
[Link]

[2] IBM, "Food Trust Blockchain," IBM. [Online]. Available:

[3] E-Estonia, "e-Governance and Blockchain," [Online]. Available:

[4] IBM, "Blockchain for Healthcare," IBM Watson Health. [Online]. Available:
[Link]

[5] MIT News, "MIT Issues Blockchain-Based Diplomas to Graduates," 2017. [Online]. Available:
[Link]