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Blockchain is more than just about the crypto platforms and security. It is the latest fad in technology and is increasingly finding usage across various sectors, including healthcare, media, government, and finance. It is quite a revolutionary process, and through Blockchain, we are at a crossroad that might provide the next big breakthrough as the uniform platform for cybersecurity.
In the following section, we have gone over a few key areas where Blockchain finds its use and importance. Let us have a look.
Blockchain and cybersecurity go hand in hand, and it goes without question that the tech will get used to provide secure connections and transactions over the internet. For example, Guardtime is a firm that offers keyless sign-in systems through Blockchain. The platform is currently in use to protect the health records of 1-million Estonian citizens.
REMME is another Blockchain-based authentication system that can replace the process of logging in through passwords with the ability to store SSL certifications. If you are looking to create a secure system for any entrepreneurial venture through Blockchain, log in to RemoteDBA.com.
Blockchain tech is allowing firms and start-ups to provide effective disaster management and response. Gem is a start-up that has been closely working with the CDC to provide efficient disaster relief and response. Other firms, including SimplyVital Health and MedRec, have several blockchain products in development that can enable family members and healthcare experts to track patients' progress and recovery processes. Blockchain-based platforms also store electronic media records for authentication and data sharing. This decentralized patient record system can provide better data protection and ease of access if implemented globally.
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Several firms implement Blockchain technology in the financial world. Bitcoin, ABRA, and every other cryptocurrency employ Blockchain to track transactions and financial information. Bank Hapoalim is a collaborative effort between Microsoft and the Israeli National bank to create a universal blockchain platform capable of managing bank guarantees.
Barclays has also launched several Blockchain initiatives to combat frauds and track transactions and compliances. Similarly, transportation and shipping giant Maersk has put into action plans for a Blockchain resolution to streamline marine insurances. Augur is another platform that allows the creation of platforms that utilizes Blockchain to predict trading derivatives and other financial instruments.
According to experts, more and more financial dealings will shift into the Blockchain domain as the entire process is decentralized.
Blockchain in industrial processes
Provenance is a project utilizing Blockchain to provide transparent records for supply chains and similar back-office processes. Reliance, the giant conglomerate from India, is looking to expand into the crypto world with their Blockchain-based Jiocoin. Hijro, also known as Fluent, is a Blockchain platform that allows collaboration on various prototype projects. Industrial processes can also be aided by Blockchain through platforms like SKUChain, to enable tracking, tracing of goods and Blockverify, which can provide anti-counterfeit measures. Blockverify is finding its use in the diamond, luxury goods, and pharmaceutical industries.
Dubai is on the way to becoming the first country to use Blockchain for several administrative processes. Blockchain is powering various sectors in Dubai, including health records, theft prevention, shipping, and business registration. Blockchain is finding its use in different governmental procedures and departments. In Estonia, the government has joined forces with Ericsson to create a data center as it plans to move all public records into the new data system.
In South Korea, tech-giants Samsung has created a Blockchain solution to aid public safety and various transport applications. In the U.K., the Department of Work and Pension has created Govcoin to provide the benefit payments and keep track of the transactions. Democracy is an open-source project that enables the establishment of structured organizations for governmental departments and procedures using Blockchain tools. Similarly, Followmyvote.com is another Blockchain-based platform that reduces chances of voter fraud and even increases turnout.
Charity work and Blockchain
Charity work requires the management of details and donations with a level of transparency to provide authentic services. Bitgive offers services to various charities, including Save The Children, Medic Mobile, and The Water Project. Bitgive is a Blockchain platform that clarifies charity donations and links between the contributions and the outcomes.
Retail business needs Blockchain support as well. OpenBazaar is a decentralized Blockchain-based market that allows anyone to trade services without an intermediary. Loyyal is another Blockchain-based universal loyalty platform that enables customers to trade their loyalty rewards for other valuable and innovative items. And, it is not just that, as retailers can even offer better loyalty packages. Blockpoint.io is another open-source platform that enables retailers to build payment platforms with cryptocurrencies.
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Ubiquity is a real estate blockchain system that allows users to track complicated legal processes. It will enable real estate investors to avoid friction and incur losses in the long run.
Tourism and Blockchain
IBM Blockchain solutions are looking to provide newer and efficient modes of vehicle leasing services to the public. It is one of the earliest non-finance Blockchain platforms in use in the public domain. Arcade City is a Blockchain platform looking to compete with Uber with the entire ride-sharing and hiring tech shifting onto the Blockchain. Webjet is a Blockchain-based online travel portal that allows travelers and holiday planners to track hotel rooms and route payment without the assistance of any middlemen. With an efficient and robust system, Blockchain has the potential to change the face of tourism forever.
Kodak is looking to develop a Blockchain platform for tracking intellectual property rights and payments to photographers. Professionals have hailed this move all across the world. Ujomusic is another start-up founded by U.K.-based singer-songwriter Imogen Heap to record and track royalties for musicians. Ujomusic also allows creators to create a record of ownership of work.
We can see that Blockchain is bringing forth several changes and developments. Of course, there is no guarantee that all of the ventures will make it into the big-time, but it is clearly understood that there is a tremendous potential for the technology, and the uses will only increase with time.