The idea behind blockchain is fascinating as the prospect of an immutable register should be expected to have obvious applications in big data or cyber secutity. Yet, most people only associate them with cryptocurrency or NFTs. So does anyone know of any attempts made for far more productive applications for this at present?
There aren’t really any applications to blockchains that I’ve seen which aren’t better served by centralized databases.
One use-case I’ve heard in the past is handling logistical-related problems, where large amounts of logistical events are saved onto the block-chain.
Most of the advantages of blockchain end up being useful, as the events aren’t required to be updated immediately, being decentralized you can’t lose all the events due to centralization, and you can’t forge events so its more secure.
However, having a traditional centralized approach via distributed databases can provide the same functionality, with less complexity.
Ultimately traditional methods work fine for all current uses-cases, blockchain currently doesn’t offer any distinctive, advantages over centralization outside of being de-centralized. It’s usually slower, more complex, limited by the blockchain, energy intensive, and ultimately just harder to work with due to the nature of decentralization.
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