What is the primary use of blockchain technology beyond cryptocurrencies? 🔊
The primary use of blockchain technology beyond cryptocurrencies is to provide a secure and transparent method of conducting transactions and storing data. Its decentralized nature allows for the creation of smart contracts, which automate and enforce agreements without needing intermediaries. This characteristic enables various applications in sectors such as supply chain management, healthcare, and digital identity verification. Furthermore, blockchain enhances data integrity and trust among participants in networks, making it a valuable tool for secure transactions across numerous industries.
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