It has been quite some time now that the term blockchain has become part of common parlance, most often associated with cryptocurrencies almost as if it were an indissoluble link intended to describe each of the two realities uniquely.

To talk about blockchain technology is essentially to talk about cryptocurrencies, and to talk about cryptocurrencies is to talk about blockchain, in fact things are not as schematic and one-sided as one might think.

The truth, in fact, is that blockchain technology is extremely versatile and its use expands far beyond the boundaries of the financial sector. Proof of this is the fact that a growing number of large companies, including IBM, Walmart, DeBeers, etc., are investing huge sums of money to implement such technology with their business.

What then lies behind the blockchain?

Let’s find out.

What is blockchain?

In order to fully understand how blockchain can be used and its related benefits, it is essential to have at least the initial background necessary to understand what we are talking about.

So, blockchain means a database structured in the form of a blockchain, each of which contains certain information. This definition, however, as simplistic, does not take into account the complexity of this technology, which is mainly expressed in its operational modes.

One of the characteristics of a common database, in fact, is that it can be modified by the one who has the permissions whenever he or she wants, this, however, does not apply to the blockchain.

Databases referencing blockchain technology are sui generis, and all the information in them cannot change once a new block is added to the chain. What does this mean? It means that the addition of new information in these databases always coincides with the creation of a new block and not with the modification of an existing one.

The blockchain, then, is one of the most admirable examples of distributed ledger-based systems, and by virtue of the fact that this technology makes it virtually impossible to modify or alter information that has already been entered, it is quite easy to see its importance and possible uses as we shall now go on to see.

Blockchain technology: a world to discover beyond cryptocurrencies

There is no doubt that Bitcoin, Ethereum, and more generally all the best-known and most widely used cryptocurrencies have now become a stable presence within the financial sector thanks in part to the technology on which they are based, the blockchain for that matter, but in that sense its true potential is still unknown.

There are several analysts and industry experts who agree in pointing to blockchain technology as one of the most relevant innovations between now and the next few years, and in light of the more than 80 percent of representatives from large corporations and companies who during Deloitte’s recent Global Blockchain Survey 2021 stated how their respective industries and businesses are set to be disrupted by the technology, it is obvious how the future ahead is certainly full of surprises.

But what are the professional and non-professional areas where blockchain technology can come in handy?

Health sector

The use of blockchain technology in the healthcare sector is just in its infancy, yet the potential shown so far has already attracted the attention of the most influential entities working in the said field.

One aspect, for example, in which blockchain plays a leading role in this regard is that of securely sharing personal information, medical records and more generally data related to various patients. Being able to have an advanced information management and sharing system is essential not only to minimize any possible risk factors arising from their misuse, but above all to simplify business processes and contain healthcare costs.

A concrete example can be found in the London-based healthcare cooperative Medicalchain. In this company, blockchain technology has been used and implemented in the proprietary platform to streamline practices for researching patient information, such as those related to insurance, and identifying the best possible candidates to participate in various clinical and pharmaceutical trials.

Security sector

According to a survey by the U.S.-based company LifeLock operating in the field of personal information monitoring and protection, in 2017 alone, more than 16 million U.S. citizens reported experiencing fraud and/or identity theft with all that goes with it.

This report, although based on a national sample, highlights a problem that thanks to the digital impact is recognized as such globally, that of security concerning personal identity.

Any malicious person who has free access to our personal information with the ability to modify, copy, or use it at will is practically able to take over our lives, and considering that in most cases the uses are not entirely lawful, early action should be taken to address this critical issue.

An example of the use of blockchain technology in this area we have in the IT company Evernym, which precisely thanks to a system based on distributed ledger has created a platform in which the personal information of private citizens once entered is not modifiable and, should it be requested by government or national agencies, the system takes care of ensuring in real time the uniqueness and security of the same with significant savings therefore both in time and cost.

Legal sector

According to a recent study by the firm Deloitte, the impact of digitization, especially in the media, has caused an exponential increase in cases of intellectual property piracy with obvious disadvantages and losses being passed on to the various creators.

In this sense, blockchain technology can be leveraged to create a sharing and distribution system in which original intellectual property is always traceable and to enable various artists and content creators to receive the right royalties.

An example of this is the media company Steem, which, thanks to a proprietary blockchain-based platform and a community that uses tokens to reward the creation of original content, has so far found itself rewarding various creators with more than $40 million in tokens.


Through these few but striking examples, therefore, we have seen how the implementation of blockchain technology can concretely disrupt and improve the lives of each of us, demonstrating how it is a phenomenon that has been able to transcend the boundaries of the financial sector to become a promise of a future yet to be written.