The average American knows that blockchain has something to do with the Internet, yet most people know little more than that. To let the cat out of the bag, blockchain is an open-ledger data storage system that cannot be hacked, and with that in mind, here are a few things you probably didn’t know about this digital platform.

1. Bitcoin runs on a blockchain platform – The number one cryptocurrency is Bitcoin, and it runs on blockchain, which is a decentralized ledger-based data storage platform. And the reason blockchain is used is due to its high level of security. Other cryptocurrencies also use the blockchain platform for the same reason; every transaction must be verified by all stakeholders before it is authorized, which is done in the background. A blockchain audit company ensures the network is not subject to issues.
2. Governments use bitcoin – Governments store citizen data on a blockchain because it is transparent and secure. Things like passport data, intellectual property rights, land registry, driving license information, and pension data are all stored on a secure blockchain. Within the next few years, we predict that all governments will use blockchain technology, as this is definitely the future.
3. Blockchain’s market reach will hit $100 billion by the end of 2025 – Companies and organizations are switching to blockchain, and with exponential growth, the market share is predicted to surpass $100 billion within a few months. If you would like to explore the potential that blockchain can offer your business, search with Google to find an established US company that specializes in blockchain development. Here are a few Bitcoin indicators that every trader should know.
4. Blockchain stores all patent data – Every invention that gets patented is stored on the blockchain, which eliminates the risk of fraud. The patent owner receives a digital certificate to verify authenticity, and as the blockchain is transparent, anyone can check who owns any patent. Patents typically contain diagrams, images, and text to describe the device/item/ process that has been patented. 
5. Births, deaths, and marriages data are stored on a blockchain ledger – This data is perfect for the blockchain, and the information is not restricted; any citizen has the right to carry out a search. Simply fill out the request form and wait for permission. Most Western countries use a blockchain for this data, and it won’t be long before every government exclusively uses blockchain to store all data, whether public or private.

Blockchain is becoming more popular every day, and as time goes by, the system becomes more effective due to ongoing development. If you are interested in switching to blockchain to store your business data, search online for established blockchain developers and enquire about their range of services. 

They would be happy to spend some time enlightening you as to what blockchain can do, and should you wish to go ahead with a project, they can present an all-inclusive quote. Of course, cybersecurity is standard with blockchain, and the provider teaches your employees how to administer the system.