The application of blockchain technology could change the legal system. With the help of smart contracts Blockchain technology can be able to have smart contracts and the blockchain will immediately take effect when the death of a person. Executors and intermediaries would not be required to fulfill the will. Blockchain technology will instead require a lawyer with expert knowledge of computers and programmers.
In addition, this technology will be advantageous for car rental companies. By utilizing smart contracts, these companies can automatically permit car rentals after the customer's payment and insurance details are accepted. If you want to know more about blockchain technology, You can visit https://applicature.com/services/consulting/ to get a virtual blockchain advisor.
Image Source: Google
The platform may aid the music industry online. Musicians typically earn money from the sales of their recordings through third-party companies or platforms. Blockchain technology could eliminate intermediaries and give artists greater control and ownership over the music. This results in conserving the bulk of sales that the artist initially lost.
Blockchain platforms can also alter accounting depending on the method of verifying the audit of an organization. Instead of having an organization keep separate records of transactions, blockchain technology will record all transactions into the joint register. This creates an infrastructure that encapsulates all transactions to an interlocking mechanism were altering the transactions or fraud, or even destruction of them is not feasible.
