Cholesteric liquid crystals (CLCs) have garnered significant attention in recent years due to their unique optical properties, which make them well suited for a wide range of advanced applications in both optical storage and display technologies. This chapter reviews the recent advances in the field, focusing on the use of CLCs for high-density optical data storage, color displays, and dynamic, tunable reflectors. The helical structure of CLCs enables selective reflection of circularly polarized light, which can be harnessed for various photonic applications, including 3D displays and anti-counterfeiting measures. Advances in material synthesis, chirality control, and polymer-stabilized systems have allowed for improved performance in terms of contrast, color purity, and response times. The chapter also explores novel methods for achieving multi-stable and rewritable optical storage through CLCs, offering potential for next-generation data storage devices. Additionally, innovations in light modulation techniques and flexible display technologies further expand the versatility of CLC-based systems. By examining these cutting-edge developments, this chapter gives a comprehensive overview of the role of CLCs in revolutionizing optical technologies, while highlights the ongoing challenges and future directions in the field.