Ethereum is a programming language and one of the cryptocurrency. Ethereum’s goal is to allow anyone who wants to create an app and share it. Ethereum (ETH), the cryptocurrency used by a system, is an exchange medium within the decentralized network of potential recipients of independently created applications.
Ethereum, thanks to the accompanying programming language, allows you to create interesting payment models (e.g., sports betting, mutual fundraising or even online stock exchange). This solution certainly has a lot of prospects, that’s why Ethereum rapidly develop. Another feature that Microsoft has announced, is the verification and certification of documents in Office. The plugin, added to the software, is based on Bitcoin and Ethereum to provide maximum security. This helps companies that use Office to keep their documentation safe. Also, they can’t change anything without special blockchain passwords.
Ethereum can also be useful in different ways. One project, based on ETH blockchain, is designed to certify and later identify Italian wines. This is one of the few cases in which a digital bond is created between the producer and the consumer. The consumer can easily see information about the manufacturer, place of origin or production methods through the “smart label” with the QR code on the bottle. This increases the buyer’s trust. What’s more, it counteracts fakes of Italian wines, often appearing in foreign stores.
As you can see, Ethereum blockchain can be used in different ways, not only in a category of finances. Who knows, maybe soon thanks to projects like ETH we will be able to vote in blockchain elections. Only time will tell.
Last modified: March 27, 2018
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