As mentioned in previous articles, Blockchain was first applied to Bitcoin and later it was widely used in the field of cryptocurrencies, but currently, Blockchain has been applied in almost all industries. Here are a few practical examples of the practical application of blockchain technology.
Blockchain application in industry and service
Microsoft and ConsenSys are working together to provide the Ethereum Blockchain as a Service (EBaaS) on Microsoft Azure so that enterprise customers and developers can have a blockchain development environment.
Google is also believed to be working on an exclusive blockchain to support the business. Parent company Alphabet is developing a distributed ledger that third parties will be able to use to store data, allegedly related to Google's cloud services for businesses.
Blockchain application in agriculture and fishery
- Fishing
Blockchain is currently being used to support sustainable fishing. Illegal fishing is an existing problem in this industry, and distributed ledger technology provides a means to demonstrate where fish are caught, processed, and sold. This "net-to-plate" chain allows inspectors to determine if fish are coming from violating areas.
- Agriculture
Food industry: Blockchain applications can improve transparency and efficiency in finding out where foods are available throughout the supply chain.
OriginTrail: A blockchain platform that lets consumers know where the food goods they buy come from and how they are manufactured.
Blockchain application in construction
- Real Estate
Ukraine is honored to be the first country to use blockchain to facilitate an asset deal. A property that has been sold by renowned cryptocurrency supporter and TechCrunch founder Michael Arrington.
This agreement is enabled with the assistance of smart contracts on the Ethereum blockchain and is intended to be the first one to be completed by Propy, a startup specializing in blockchain-based real estate transactions.
- Land use rights
The Georgia government uses it to register land ownership. They have created a custom-designed blockchain system and integrated it into the digital records system of the National Public Registry (NAPR). Georgia currently takes advantage of the transparency and fraud reduction provided by blockchain technology.
Blockchain application in waste management
Waltonchain's RFID technology is being used by the Smart Waste Management System in China. Using Walton's blockchain, it will enable waste monitoring to improve operational efficiency and optimize resources.
Blockchain application in the wholesale and retail industry
- Mobile payment
Cryptocurrencies with blockchain technology are being used to facilitate mobile payment in a variety of projects. One of the latest initiatives announced, launched in the fall of 2018, will involve a Japanese banking group. They will use Ripple's technology to enable instant mobile payments.
- Supply chain
Supply chain management is considered as one of the best use cases for blockchain technology. IBM and Walmart have teamed up to launch the Blockchain Food Safety Alliance in China. The project is designed to improve food tracking and safety, making it easy to verify that food is safe to consume.
Blockchain applications in transport
Many companies have used Blockchain in the maritime logistics industry to bring transparency to the operating apparatus. IBM and Maersk have worked together to create the world's first shipping blockchain platform called TradeLens.
Blockchain application in finance, banking, and insurance.
- Bitcoin Atom
Bitcoin Atom is a new branch of Bitcoin that allows easy exchange of cryptocurrencies with no transaction fees. You cannot be hacked when trading. It makes Bitcoin decentralized. This technology is based on atomic swaps. This is considered an invaluable tool for exchanging cryptocurrencies and does not need a trusted third party.
- Ripple
Ripple aims to become a global payment solution provider. They will connect banks, payment service providers, businesses, and digital asset transactions. Transactions are instantly processed worldwide.
- ABRA
ABRA is a global application and cryptocurrency wallet that allows you to buy, invest, and store 20 cryptocurrencies, including Bitcoin, ethereum, litecoin ...
- Aeternity
Aeternity is a highly scalable blockchain platform. It can be used for any application that requires high transaction speeds including smart contracts created from the chain, nano, and micropayments.
- Insurance
Insurance company American International Group Inc. has partnered with International Business Machines Corp. to complete a pilot of a multinational policy called smart contracts.
Blockchain application in mining
- Diamond
De Beers Group, the world-famous diamond company, now has its blockchain called "Tracr". It is designed to set up a unique digital ID for each diamond registered on the platform.
- Oil
One of the leading companies in the commodity market, S&P Global Platts, is testing a blockchain solution that is being used to record oil storage data. Weekly inventory will be stored on the blockchain, reducing the need for manual data management and minimizing the possibility of human error.
Blockchain application in intellectual property
Piracy is a long-standing problem. It seems that no solution can be completely solved until blockchain appears. Blockchain technology can help us protect our assets by creating indisputable records of ownership in real-time.
Blockchain application in foodservice
In March 2019, Ailsa Bay, a premium whiskey brand, released the world's first scotch whiskey tracked with a blockchain-based system.
In May the following year, Big Four E&Y announced its exclusive blockchain solution for a major new platform that helps consumers across Asia determine the quality, origin, and authenticity of alcohol. European imported wine.
Blockchain application in communication
- Advertisement
The New York interactive advertising exchange in partnership with Nasdaq is using blockchain to create an electronic marketplace where brands, publishers, and agencies can buy ads. The process is very simple using an open protocol on the Ethereum blockchain.
- Newspapers
Civil, a decentralized newspaper market, provides an incentive model for quality news content, along with the ability to archive content permanently but still accessible at any time.
Blockchain application in Medical
- Medical
When the patient goes to the clinic, all results are stored in blockchain technology. This helps the patient keep all his information and indicators confidential.
In the case of patients wishing to transfer to anywhere in the world, they just need to retrieve information and find the results of their test results on the blockchain chain without having to go through complicated procedures.
- MedicalChain
MedicalChain is the first healthcare company to use blockchain technology. It facilitates the storage and use of electronic medical records to provide a complete telemedicine experience.
- MedRec
MedRec provides any healthcare provider with secure access to patient records. MedRec uses blockchains to save time, money, and repetitive processes in carrying out procedures between different facilities and suppliers. Patients can also access their medical records to research health service providers.
- Social life
LGBT community: Blockchain can help the LGBT community fight for their rights without revealing the identity of everyone.
➤ All terms in Blockchain technology that you need to know
Blockchain application in state management and national security
- Tax
In China, the authorities are currently using a blockchain application for both taxes and electronic invoices. The project was launched in 2017. The first blockchain invoice was created in August 2018 at a local restaurant.
- Vote
Due to complex issues in security and electoral fraud, several countries are now using Blockchain for this process. Blockchain eliminates the need for tallying and produces results almost immediately after polls finish.
- National security
In 2016, the US Department of Homeland Security (DHS) announced a project that will use blockchain as a secure means of storing and transmitting data that it obtains. Using Factom's blockchain, data retrieved from security cameras and other sensors is encrypted and stored.
- Border control
Currently, passengers on the Eurostar train between the two countries undergo border control at multiple locations. Blockchain will provide a means to ensure that the data is not tampered with and can verify correctly.
- ID
The Swiss state of Zug, known as Crypto Valley - the headquarters of a group of blockchain companies, has developed a blockchain project in partnership with Uport to register residents' IDs. It allows them to participate in online voting and prove their residence.
Blockchain application in arts and entertainment
- Music
One of the main benefits of blockchain technology is the way it eliminates intermediaries. Many blockchain-based projects have emerged to seek a fairer deal for music composers.
- Travel
Blockchain is being studied as a means to improve Hawaii's economy by allowing tourists to pay for local goods and services in Bitcoin and other currencies. In this way, the hope is to attract tourists, especially from Asia, so they can spend more money and eventually help Hawaii develop its economy.
Blockchain application in e-commerce
Warranteer: A blockchain application that allows consumers to easily access information about products they have purchased and receive service support in the event of product quality issues.
Blockpoint: This is an application that simplifies the creation of payment systems and acceptance of electronic wallets, loyalty programs, gift cards, and other functions.
Loyyal: Supported by blockchain technology and smart contracts, this loyalty and rewarding customer service platform creates more customized programs, allowing customers to earn reward points from various brands.
Blockchain Application in the Internet of Things (IoT)
IoT is the management of a control network of several types of electronic devices, such as the temperature of the air in a warehouse. Smart contracts can automate the management of this system remotely. A combination of software, sensors, and networks will facilitate data exchange between objects and operating mechanisms. The result increases the efficiency of the system and cuts the tracking costs.
Other applications
In addition to smart contracts, cloud computing, capital mobilization, etc., blockchain is also applied in many fields such as international payments (Circle, Abra), market forecasts, and future events (Augur, Gnosis). ), decentralized internet (Blockstack, IPFS), crowdfunding (WeiFund), anti-counterfeiting (BlockVerify), social networking (Steemit), ...
Looking positively at this technology, the current Blockchain could pave the way for more viable products in the future, bringing blockchain closer to the expectation of becoming the "new internet" of the coming decades.
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Learn more: What is blockchain | Top frequently asked questions about blockchain
