Five clear blockchain uses outside finance
Databases

Five clear blockchain uses outside finance

Everyone is talking about blockchain. It is called out by many as a ‘silver bullet’ and tipped to disrupt all kinds of industries. However, it is still mostly used in the finance sector. So, where else are the real life use cases for blockchain?

 

ONE: The airline industry

“Airlines, like other industries, are increasingly becoming digital businesses, and they will need to approach their problems in new, creative ways, which includes the adoption of technologies such as blockchain,” two executives from SolarWinds told us recently.

“Airlines conduct various business-to-business (B2B) transactions that touch other business and government entities for every traveller’s ticket.

“This means that without adopting something like blockchain, they will need to go through rigorous reconciliation processes between a multitude of systems to ensure operations and security. Use of cryptographic techniques can help provide shared ledgers and decentralise these types of reconciliation processes.”

Read the full interview here

 

TWO: The counterfeit goods racket

In January one of our journalists, Marc Ambasna-Jones, looked at the global trade in fake goods and how one London-based company had an innovative solution based on blockchain.

“The intention is not necessarily to reduce counterfeit but surely it will, if retailers can access product records online and read a provenance that cannot be tampered with? As the blockchain creates a chronological ledger of data, its provenance is already set in the underlying technology, making records traceable and accountable,” he explained.

Read the full article here

 

THREE: To verify land ownership

“Bitland is a startup that aims to bring credible land title registry by the use of blockchain. It hopes to therefore alleviate issues of fraud and forged land titles. This is a one of a kind implementation of the technology in Africa and Bitland is currently working with the Ghanaian government,” wrote one of our journalists, Vincent Matinde, back in February.

Read the full article here

 

FOUR: The energy sector

“The energy sector is very complex and has a large number of areas that are going to see a significant cost saving by applying blockchain technology.  Over time we will see large adoption of blockchain technology in many areas in the energy industry,” Guy Halford-Thompson, founder and CEO of BTL Group told us recently.

“This is already starting to happen with the various pilots and projects that are currently underway. As more pilots continue to be run, we will start to see accelerated increase in adoption, but we are still in the early stages of it.”

Read the full interview here

 

FIVE: Artwork trading

“We wanted to make a difference in an industry that was underserved and that could benefit from technological innovation. In that search, we tested and validated many different industries and we concluded that fine art ticked all the boxes,” Marcelo Garcia Casi, co-founder and CEO of online blockchain-powered marketplace Maecenas told us earlier in the year.

“It’s an industry that hasn’t seen change in centuries, it is marred by intermediaries and lack of transparency, and enjoys very little liquidity. The fine art industry is ripe for disruption and we feel that a blockchain-powered marketplace can be the catalyst for positive change.”

Read the full interview here

 

 

Still don’t feel you understand enough about blockchain?

Last year IDG Connect put in the leg work and spoke to a dozen or so people about what blockchain really means in practice. This included insight into what blockchain really is, where we are at with this technology and what the true story behind the hype is. The full report is available for download below.

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