REASONS FOR BLOCKCHAIN DEPENDENCE AND APPLICATIONS

Commercial transactions between individuals are done through intermediaries. The latter receives a percentage of transactions as fees or wages for mediation. Blockchain technology helps in any transaction or transfer of life to another party, storage, and management without the need for an intermediary.

What makes blockchain one of the engines of the intelligent revolution in human life and makes it one of the most important tools for managing the lives of individuals is the availability of two main advantages that can be summarized as follows: [1]

The blockchain system ensures that it is not manipulated, not modified, or delete later; in the case of a problem, the network is able to con ect itself to ensure the validity of the transaction protection of its data by a mathematical equation called proof of work [7]; this helps create trust between users in a big way.

Concerning its applications, we can mention [5]:

  • • Property Registration: One of the functions of the blockchain system is the ability of individuals to register their property whatever this property, be it real estate, land, jewelry, precious stones, cars, personnel property, patents, and intellectual property rights is books, songs, notice or other property owned by individuals and wish to advertise it or register it to ensure then rights.
  • • Documenting Information: Any transaction, whether personal between individuals or within a company or a governmental or nongovernmental institution, is intended as an open and distributed digital record, allowing everyone to enter all data on it, whether this data is government procedures, or follow-up production lines in a factoiy, aircraft itinerary or carrier. Oil, as well as the registration of sales and purchase transactions, transfers of ownership, follow-up customer sendee, and registration of all transactions made between two individuals in any field, allowing the detection of gaps, anti-corruption, and quality control.
  • • Brokerage Business: The blockchain plays the role of an intermediary during the provision of the sendee banks in the transfer of real estate money, in the registration of property and the place of traffic departments, in the registration of cars and the shop brothers and selling and intermediary companies like umber in providing sendees.

BLOCKCHAIN RELEASES AND FEATURES

Authors in Ref. [10] indicated that there are major versions of blockchain, and each has a workflow is: hyper ledger fabric-R3-Corda-Ethereum.

Blockchain releases vary, and many companies and institutions want their own publications that are not available to the public on the internet, but to specific categories, but there is a great risk as this protection becomes a difficult process because blockchain in bitcoin, for example, contains tens of thousands of people who manipulate it by importing their many hard to manipulate records.

In addition, there are many advantages of blockchain, and the functions that can be performed. It is an administrative and financial system capable of carrying out several real functions while saving as much time, effort, and cost of doing that. The most important features of the blockchain system are the following [6]:

  • Face the Routine: This system helps government departments to achieve efficiently, all transactions for individuals are visible within the chain if there is a need to make sure some information can be accessed easily, which helps save time and eliminate routine.
  • Anti-Corruption: The system does not allow Blockchain modification, or cancellation and all transactions that contribute to it are recorded step by step. In the case of manipulation or forgery, the chain does not accept the introduction of the transaction again to helps eliminate corruption.
  • • A Fair Distribution of Wealth: This system contributes to the distribution of wealth among, all individuals around the world and not monopolized by some bodies or organizations, because everyone around the world can participate in the completion, and preservation of transactions and get a percentage of them, in addition, blockchain can free large numbers of people around the world from the bank’s power and the cost of using it [11].

  • [1] The main objective of blockchain is to transfer the origin of the objectto another party via the internet; what always happens is the transferof a copy of the life, not the transfer of the original file, which can’thappen when trying to transfer the origin of something like money. • Protect the transaction from manipulation: Blockchain has the important characteristic of making sure not to cheat and fraud during theexecutions. Thus, the blockchain prevents the manipulation of transactions in such a way as to damage the state’s wealth or violate theprinciple of equal opportunities. This helps to eliminate corruption.
 
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