The current 20 application scenarios of blockchain
Bank
Essentially, banks are a secure storage warehouse and value exchange center, and blockchain can do the same job as a digital, secure, and tamper-proof ledger book. In fact, UBS and Barclays in the UK have already started experiments, hoping to use it as a way to accelerate back-office functions and clearing capabilities. Some banking institutions claim that the blockchain may reduce the cost of intermediaries by 20 billion.
Not surprisingly, banks, as part of an increasing number of financial services tycoon, are also investing in blockchain startups. R3CEV company, the financial complex already has 50 companies, they are developing customized blockchain for the financial industry.
Thought Machine Group has developed a bank system based on the chain of privacy technologies and the general ledger of Vault OS, no matter how long the bank opened can adapt to this secure peer-to-peer financial system.
Payment & Cash Transaction
In a recent article published in Forbes, the World Economic Forum claims that by centralizing payment technologies like bitcoin, the "business architecture" can be changed for cash transaction models, and that the architecture now exists for more than 100 years.
Because of the blockchain, we think we might bypass these cumbersome systems and create a more direct flow of payments that can be paid at near-instantaneous rates at very low rates domestically or across borders.
Currently, a number of corporate companies are actively developing blockchain technology to serve global bitcoin and cash transactions based on blockchain technology.
Network security
Although blockchain books are publicly available, data communications can be verified and transmitted using advanced cryptographic techniques. This ensures the correct source of data and nothing to be intercepted in the process.
If blockchain technology is more widely adopted, the probability of hacking will decrease as the blockchain is considered to be more robust than many traditional systems.
One of the ways it reduces the risk of traditional cybersecurity is by simply eliminating the need for human intermediaries by eliminating the need for intermediaries, reduce potential safety issues, no matter from hackers to corruption. Goldman Sachs wrote.
Academic
Holbertson, a software technology training course based in California, USA, announces the certification of diplomas using blockchain technology.
This will ensure that the students who claim to pass at Holbertson are actually accredited. If more schools begin to adopt open transparent diplomas, transcripts and diplomas, it may be easier to solve the problem of academic fraud, savings in time and money and to avoid manual inspection and the reduction of paper documents.
Internet of things
IBM and Samsung have been working on a concept called ADEPT, which uses blockchain technology to form an IoT device to centralize the network.
According to the CoinDesk website, ADEPT, as an anonymous, decentralized point-to-point remote sensing technology, blockchain can become a public account of a large number of devices and will no longer need a centralized route to center traffic among them.
Without a central control system to validate, the device will be able to communicate anonymously with each other and manage software updates, errors, or energy management.
Other companies also want to integrate blockchain technology in the IoT platform. For example, Filament is using blockchain to build a decentralized network and hope sensors can transmit to each other. The company has received an A round of 5 million US dollars investment, Verizon Investment Company and Samsung Investment Company are involved in this investment.
Election
Elections require voter identification, secure recordkeeping to track ballots, and reliable counters to decide who wins. The blockchain can serve the voting process, ballot tracking and statistical ballots so that there is no voter fraud, loss of records or unfairness.
Based on the voting transactions on the blockchain, voters will agree on the final count as they can calculate their own votes because blockchain audit trails can confirm that no votes have been modified or deleted.
Follow My Vote, a Kickstarter crowdfunding company, is determined to build an end-to-end verifiable online voting system
Sharing economy
Applications like Uber Hitchhiker seem to be the case for decentralization, with a company acting as a dispatch center that uses its algorithms to control the fleet drivers they are responsible for. Israeli startup la'zooz wants to be an "anti-UBER," according to Bloomberg.
It uses its own proprietary cryptocurrency, bitcoin-like, to record currency using blockchain digitization. People can no longer use a centralized network taxi service, people use la'zooz to find other people's travel routes, and by exchange cryptocurrency to ride.
Some cryptocurrency will be available for future ride deals. The process by which users earn (or mine) these cryptocurrency allows this APP to track their location.
Stock trading
For years, many companies have been devoted to making the process of buying, selling, trading stocks easier. Emerging blockchain startups believe blockchain technology can make the process more secure, automated and more efficient than ever before.
TØ.com, a subsidiary of Overstock, wants to apply blockchain technology to network the stock exchange. Wired Magazine reports that Overstock has implemented the application of blockchain to issue private debt, but now the SEC (US Securities and Exchange Commission) has approved TØ.com's public debt.
In the meantime, blockchain startup Chain is partnering with Nasdaq to transact private equity transactions through blockchain.
Real estate
The pain points in the process of buying and selling property lie in the lack of transparency and extensive clerical work during and after the transaction, potential fraud, errors in public records, and more, all of which are just a few.
Blockchain provides a way to achieve the need for paperless and fast trading. Real estate blockchain applications can help record, trace, and transfer deeds, deeds, liens, etc., and provide a platform for financial companies, equity firms and mortgage companies.
Blockchain technology is devoted to the safe keeping of documents while enhancing transparency and reducing costs. The company's beta version will be available in the summer of 2016.
Car rental & sales
Last year announced the partnership to use the blockchain to establish a proof of concept to streamline the car rental process and build it into a "click, contract, and drive" process.
Future customers choose the car they want to rent and enter the blockchain's public ledger; then sitting in the driver's seat, the customer signs a rental agreement and insurance policy, while the blockchain updates the information synchronously.
It is not an imagination that this type of process may also develop into reality for car sales and car registration.
Medical
All along, medical institutions have to endure the inability to safely share data across platforms. Better data collaboration among data providers more accurate diagnostics, effective treatments, and the overall ability to enhance the health care system's ability to deliver cost-effective healthcare.
Blockchain technology allows hospitals, patients and all parties in the healthcare chain to share data across blockchain networks without having to worry about the security and integrity of the data. Startup Gem unveiled the Gem Health Network - providing an Ethereum platform that implements multiple signatures and multi-factor authentication to create a secure, common data structure.
Tierion is another blockchain startup that establishes a platform for medical data storage and verification. Recently, Gem and Tierion worked with Philips Healthcare at Philips Blockchain Laboratories.
Supply chain
One of the most common aspects of blockchain technology that is more secure and the regulation is more transparent. Supply chain is a series of trading nodes, which connect the product from the supply side to the sales or terminal of the whole process.
From production to sales, the product goes through many aspects of the supply chain. With the blockchain technology, transactions are permanently and centrally recorded, reducing time delays, costs, and human error.
Many blockchain startups are pouring into this space: Provenance is building a traceability system for raw materials and products. Fluent provide a global supply chain lending platform. Skuchain creates a number of blockchain-based chains for the B2B and supply chain financial markets.
Cloud storage
Companies that currently provide cloud storage have keep customer data in a centralized database, which increases the risk of hackers stealing information.
Blockchain cloud storage solutions allow for decentralized storage. Stori is testing a beta for cloud storage networking products to improve data security and reduce the transaction costs of storing information in the cloud.
Stori users can even rent out their unused electronic storage, which could create a new market for crowdsourcing cloud storage capacity.
Insurance
Companies like AirBnB, Tujia and Wimdu provide a way for people to exchange their assets temporarily, including private homes, to generate value. The problem is that people are hardly able to insure their assets on these platforms.
Together with blockchain startup Stratumn, professional services firm Deloitte and payment service provider Lemonway have just released a blockchain-based solution called "LenderBot." It is a microinsurance concept product designed to share the economy and confirms the potential of blockchain applications and services in the insurance industry.
LenderBot allows people to register for personalized micro-insurance products, and can communicate through Facebook Messenger. The goal is to insure high value items exchanged between individuals, and the blockchain plays a third-party role in loan contracts.
Data Forecasting and Analysis
The entire research, analysis, consulting and forecasting industry will be shocked by the blockchain. Augur, the online crowdfunding platform, wants to invest in a decentralized forecasting market.
The company claims it will provide a service that acts like an ordinary gambling venue. The whole process will be decentralized and will not only provide places for users to bets on sports and stocks, but also bet on other aspects such as elections and natural disasters.
"The idea is to go beyond the sports lottery and create a" predictive market. "
Online music
Many music artists turned to blockchain in favor of a more equitable sharing of online music. According to Biilbord, the three companies are prepared to create more direct payment channels for artists to address payment problems and automate smart contracts to resolve certification issues.
The PeerTracks system is still under development and aims to provide a music streaming platform that lets users listen to music online and pay directly to the artist using blockchain without intermediaries. The platform also hopes to create a more direct incentive between artists and clients.
Myclia, which is funded by Grammy's award-winning singer Imogen Heap, develops intelligent songs by building smart contracts. Blockchain contracts allow artists to sell their music directly to fans without the need to go through record companies. Ujo Music, a business led by entrepreneur Phil Barry, also wants to solve the problem of online music and pay artists. In addition to streaming, Ujo will be a better way to categorize artists and creators' songs; at the same time as the automated brain behind the music list using smart contracts.
Energy
Energy management is another long-time highly centralized industry. In the United States, if you want to trade energy, you have to go through a trusted energy holding company such as Duke Energy, or in the UK, the national grid or a reseller who has already purchased it from a major power company.
Startups such as Transactive Grid, a joint venture between LO3 Energy and Consensys, an Ethereum facility in Brooklyn, apply Ethereum blockchain technology to allow consumers to trade in decentralized energy production structures, allow people efficient production of energy and trading of energy between neighbors.
LO3 Energy has other projects such as the Brooklyn Micro-Grid Project, the Exergy project, a proof-of-concept product that uses excess heat from computers.
Government public welfare
Welfare allocation is another area where blockchain technology can be applied, and blockchain can help make public administration easier and safer.
GovCoin Systems Limited, a London-based financial technology company, is backing the British government in the area of benefits distribution.
Gift and membership card items
Blockchains can help retailers offering gift cards and affiliate programs, making their systems cheaper and safer. Almost without any intermediary to deal with the distribution of sales transactions and gift cards, the application process of blockchain gift cards and the use of the process will be more effective and cheap.
Similarly, the blockchain's unique authentication technology allows fraud protection to escalate further, reducing costs and preventing unauthorized access to stolen accounts.
Gyft, an online platform for buying, delivering and redeeming gift cards from First Data, is working with blockchain supply chain to deliver gift card businesses to thousands of small businesses on the blockchain, this project is called "Gyft Block".
Sports Management
Investing in athletes has gradually become a concern for sports management agencies and companies, but the blockchain, by democratizing fans' ability to get the financial shares of current sports stars in the future, can centralize the process of investing in athletes.
This concept of using blockchain to invest in athletes and reap profits has not been tried on a large scale. But at least one agency, The Jetcoin Institute has proposed the concept of Jetcoin, where fans can invest in their favorite athletes in cryptocurrencies and then have access to part of the athlete's future earnings, including VIP activities and views Match seat upgrade and more.
Jetcoin has teamed up with Italy's Hellas Verona football team to experiment with the idea.