On 6-9 October 2022, SIX Network attended Thailand’s Crypto Expo at the Queen Sirikit National Convention Centre, which was our
Top 5 Blockchain Use Cases: From Payments to Multi-Level Corporate Revolution
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The eavesdropping blockchain trend and movement have been ringing around the globe for over the past decade and gaining popularity lately these past three years. The technology provides solutions to issues that concern stakeholders across a variety of sectors, from agriculture to finance.
Blockchain applications, in the current days, go beyond Bitcoin and cryptocurrency. There are tons of prominent factors that blockchain iterations come under the control of one company for a specific purpose. From here, we’ll discuss 5 blockchain use cases to watch in this era.
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.
Embracing Blockchain with SIX Protocol Chain
With all the use cases and names of companies being said, there are hundreds of blockchains out there to be explored. At SIX Network we have our research and development team draw dots connecting where and how various industries can jump-start with their blockchain-based project.
At SIX Protocol provides you with solutions aiding the business with:
– Decentralized KYC is playing a big role in IDO/INO rounds. The system was made to the prevention of token manipulation for the project owners.
– Cross-chain comes in handy when the project owner can choose from day one which particular blockchain they want to distribute their token on which chain.
– Whitelist management helps the project owners to create a certain action for the investors to participate in the IDO/INO.
– Community Connects blockchain infrastructure with community applications such as Discord.
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