Dear Chandra Sekhar Bhusal,

the spectrum of Blockchain applications is getting wider and wider. This is shown by my literature sources. The concept of IOTA is based on the idea of Blockchain.

In the future, "Virtual Marketplaces (VMs)" and "Virtual Industry Marketplaces (VIMs)" will be set up. A kind of Virtual Banking is being implemented there. These VMs and VIMs are set up on the basis of manufacturer-neutral, Internet-based platforms in order to be able to automate the trade in physical and digital goods and services. Various IoT-specific system components are used in VIMs.

To implement such VIMs, we need new, Internet-based, secure Payment Systems for machines. Traditional Payment Systems were designed for people, not machines. The traditional money for M2M payments on the VIMs is no longer suitable. The M2M Payments are actually realized between end objects in the IoT. This idea should be realized with the help of IOTA.

Best regards

Anatol Badach

Fran Casino; Thomas K. Dasaklis, Constantinos Patsakis: „A systematic literature review of blockchain-based applications: Current status, classification and open issues“; Telematics and Informatics, Vol. 36, Mar. 2019; DOI: 10.1016/j.tele.2018.11.006

https://www.sciencedirect.com/science/article/pii/S0736585318306324

https://e-tarjome.com/storage/panel/fileuploads/2019-07-21/1563706310_E11467-e-tarjome.pdf

Damiano Di Francesco, Maesa Paolo Mori: Blockchain 3.0 applications survey; Journal of Parallel and Distributed Computing, Vol. 138, Apr, 2020; DOI: 10.1016/j.jpdc.2019.12.019

https://www.sciencedirect.com/science/article/abs/pii/S0743731519308664

https://www.researchgate.net/publication/33840697

IOTA (technology) https://en.wikipedia.org/wiki/IOTA_(technology)

https://www.iota.org/ https://www.iota.org/get-started/for-developers https://www.iota.org/solutions/technologies https://www.hackster.io/iota/

IOTA and IOT – Cryptocurrency in your home https://www.installexpress.com.au/iota-and-iot-cryptocurrency-in-your-home/

IOTA Applications: Where to Use IOTA https://www.profitconfidential.com/cryptocurrency/iota/iota-applications-where-to-use-iota/

How IOTA and IOT can set global data sharing standards https://www.iotnewsportal.com/general/how-iota-and-iot-can-set-global-data-sharing-standards

What Is IOTA, IoT, Blockchain, Machine Learning And Cloud Computing http://www.thetips4you.com/what-is-iota-iot-blockchain-machine-learning-and-cloud-computing/

Thank you Anatol Badach for your answers. It was pleasure to know about IOTA. I agree with your argument "blockchain application spectrum is getting wider and wider".

Hi,

blockchain use-cases except cryptocurrencies are on theirs hype nowadays and it started about 2 years ago. A lot of institutions are researching what use-cases would be feasible and where to apply blockchain. Some of them would be better without blockchain and the blockchain is only a buzzword, but that is my opinion.

However, to mention some research topics which are "on the go" are supply chain and healthcare but also banking (especially Central Bank Digital Currencies) and governmental use-case. And very, very active domain are Decentralized Fiannces (DeFi) - that will be or already is a new buzzword.

You have some institutions which are mentioning at least some use-case.:

IBM https://www.ibm.com/blockchain/use-cases/

Consensys (prominent Ethereum security developer) https://consensys.net/blockchain-use-cases/

Binance https://academy.binance.com/en/articles/blockchain-use-cases

And to get back to your idea of blockchain being an internet. That could be possible with blockchain networks being able to communicate with each other, i.e. with achieving full interoperability between existing networks and databases. In this domain Polkadot https://polkadot.network/, Cosmos https://cosmos.network/ and Avalanche https://www.avalabs.org/ are the furthest. Furthermore, to solve storage problems IPFS https://ipfs.io/ is proposing a solution to replace standard HTTP protocol for that one from IPFS.

Regards, Kristian Kostal

Thank you Kristian Kostal for your wonderful arguments and some of the resources to verify it. It will definitely help to understand in depth about the application of blockchain.

Blockchain has wide applications from a supply chain management perspective.

Dear Salomée Ruel I agree with you. I reckon its application is far more.

Blockchain is one of the very secured technology as it provides transparency and decentralisation with all encrypted and security features. Yes the utility of blockchain is very effective for data mining and crytocurrency. As it is going to provide control and information for every transaction made. Blockchain technology is basically a fundamental block for the crytocurrency generation and transactions.

Blockchain still depends on a password, which can get hacked relatively easily with a Trojan, a Keylogger, Network Analysis, or even Phishing. Another vulnerability is Quantum Computing attacks, which are just being solved supposedly. As if that was not enough, the carbon footprint Blockchain leaves are enormous, due to the high computing requirements it needs. So I do not think it will prevail at all, banks are harder to hack, and the world is moving to a much-needed carbon-free reality.

Blockchain technology finds more and more applications in the field of securing data transfer as well as transactions, payments and money transfers on the Internet.

Regards,

Dariusz Prokopowicz

Thank you Vijay Prakash Sharma for your arguments. Yes Blockchain has potential benefits in other field also. The concern is about the performance of public blockchain as they lack scalability and has low TPS.