Blog Post

Blockchain Use-Cases

Feb 26, 2019

Blockchain technology is expected to cross $360 billion by 2026 and scale over $3.1 trillion by 2030 according to Gartner. But blockchain is much more than digital security and goes beyond the well-known cryptocurrency. The following use-cases are listing some of the most current scenarios.

Reducing Complexity in Transactions
Healthcare, international banking and video games are all complex transactional systems that will benefit from blockchain's ability to reduce transactional complexity and costs by eliminates the need for third party oversight

Helping Conversations
Forbes Reports that blockchain technology is being used to combat environmental crimes such as deforestation and illicit trade of animals by fostering transparency in commercial value chains

Digital Voting
Blockchain development in the electoral process is being developed to ensure that the democratic benefits of electronic voting are not tainted by cyberattacks or other threats

Fighting Art Forgers
Blockchain technology is used to combat art forgery and reinstating trust when selling art online by establishing image based records

Supply Chain Management and Automobiles
Blockchain’s ability to enable the digitization of assets is of significant benefit for its supply chain management usage. Products can be tagged and assigned with unique identities that are then transplanted onto a transparent and immutable blockchain. Vital product information, for example: state of the product, time, location can all be tracked on the blockchain. This could for example prove useful in detailing car history.

Music
Using blockchains music artists can avoid a middlemen such as labels and publishers, and instead sell their music directly to their fans. Blockchain-based cryptocurrencies such as Bitcoin and Ethereum support micropayments, which could facilitate this novel artist-fan relationship.

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