Use Case Examples
The application of Blockchain technology has innovated the way in which different industries and markets are managed because of the wide range of uses that can be applied, and its use will increase over the years as it can be used in a variety of ways by organisations.
Adapting the Internet of Things with Blockchain opens up the possibility of multiple uses for its users, more control over their documents, storage alternatives other than the cloud, payments, and prevention of malicious attackers.
Transparency is one of the key points in finance, one of the features that the Blockchain offers is that it can be used to make transactions, consolidate audit trails and it is fast and less costly. One of the most relevant benefits is to simplify the transaction process regardless of geographic boundaries.
Handling money can often be risky, so many care homes have been inspired by cryptocurrency to create their own cryptos, with which elderly residents and their children can pay for rooms, goods, and services in a way that protects investors and provides a trade and exchange network for the token.
Applying Blockchain technology in food supply chain companies not only works to improve transparency between the company and the consumer about the traceability of food from farm to fork, but also involves optimising the information that is recorded about environmental impact, quality, and verification of certificates.
Including blockchain in the growing aviation industry serves as a tool to improve and transform it, not only offers a faster and more secure way to certify identity documents but has proven useful for storing information from manufacturers to airlines, not thirds parties involved in payments, tracing and streamlining airline processes.
Adopting the Blockchain in the construction industry allows for better communication between builders, vendors, and laborers, as digitization allows to keep track of completed events thanks to smart contracts, accelerate payments and streamline supply chains.
Multiple cases of fraud have caused traditional charities to suffer, however adding Blockchain to the process is undoubtedly a big change that will revolutionise the world of philanthropy, as it will enable faster and more secure collection of donations, reduce administrative costs, while giving donors easier access to track the destination of donations and improve the credibility of charities.