Five Blockchain Use Cases To Put An Eye On
- Logistic — Blockchain technology increases efficiency, enabling transparency and traceability for logistics and supply chains.
Company using blockchain: DHL, a shipping giant is at the forefront of blockchain-backed logistics. Keeping all of the processes on the digital ledger of shipment promotes the integrity of transactions
2. Real Estate — By implementing blockchain real estate systems, regular operations and contracts can be automated, listing and data tracking is transparent, and expenses may be decreased.
Company using blockchain: Propy Inc. is a global real estate marketplace with a decentralized title registration system. The company offers properties that can be purchased using cryptocurrency and consume a particularly less time in finishing title issuance, and document paper by digitizing contracts and tokenizing for the real estate using blockchain.
3. Security — Blockchain’s security property is the foremost secure system that is inevitable to alter any data stored. The security wide-encompassing topics, ranging from individual accounts to entire nations. It is trusted by many to be used for transferring encrypted data which results in time, cost, and capability facilitation.
Blockchain application on a company: Ligero provides lightweight, scalable protocols for secure multiparty computation and zero-knowledge proofs. Enabling a powerful platform for decentralized collaboration both on- and off-chain. The platform is complete confidential transactions, private smart contracts, and secure auctions for decentralized exchanges.
4. Music — By implementing an open-source, distributed, and transparent network for players to participate in, blockchain introduces innovations such as real ownership of assets, consensus-driven updates, decentralized marketplaces, streamlined tokens, and more.
Company using blockchain: Mediachain uses smart contracts to give the full right to the artist to make and claim rights on their own music and get paid as they should. By entering into decentralized, transparent contracts, artists agree to actually get paid in full and on time. Streaming giant Spotify acquired Mediachain in April 2017.
5. Healthcare/Insurance — The insurance industry is plagued with fraud risk and inefficiency. Use cases insurance benefits from blockchain are better fraud detection, recordkeeping, and reinsurance.
Blockchain application: Medical chain corporate blockchain platform allows for an easier and more secure flow of information that helps both the patient and medical professionals. By verifying a patient’s insurance coverage, doctor’s no longer have to wait on insurance information through the blockchain-based portal.
