5 cases of using the Blockchain product to follow this year

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Since its introduction, blockchain has quickly surpassed its original ambitions.

The numbers speak for themselves, after the first coin offers have collected huge sums of money for blockchain-based projects in the last two years. Even after raising $ 5 billion in 2017, the industry has already exceeded that number in 2018 without signs of arrest.

But as you know by now, it is not the fundraising that counts but the real case of use.

The advantageous design of Blockchain has already led to interruptions in several sectors. In fact, blockchain-based startups have already designed many new use cases that span the entire range of private and public sector services. From logistics to digital identities, the ideas that come from the blockchain are astonishing. These are five of the best use cases that have emerged so far from the nascent blockchain industry.

Simplified supply chains

Global trade has grown unevenly, more as a reaction to the changing needs of organized expansion. This dynamic has also rendered the supply chains unnecessarily complicated, with production activities all over the world and transparency between suppliers that often do not exist. For suppliers, warehouses and even logistics providers, priority to responsibility is not just popular, but essential when considering the countless mobile parts involved.

Blockchain is perfectly suited for the task at handwith real-time tracking particularly interesting for companies with multiple supply chains. Important multinational retailer Walmart has worked with IBM to work on the Hyperledger Fabric blockchain, for example, to track basic food products from the supplier to the shelf. The correct implementation of the ledger could also prove invaluable to pharmaceutical giants, who are required by law to maintain the chain of custody on each pill.

Make smarter forecasts

Because all transaction data is stored directly in the registry, blockchain-based analysis and business intelligence tools are available more capable than ever to scrape huge quantities of data and discover hidden intuitions. Some have already started to apply the concept for practical needs.

For example, using natural language processing, the equivalent of typing a blockchain-based AI question or platform with queries & nbsp; Endor uses predictive analytics to provide answers in real time. With their forecast protocol, people and businesses can draw on available public data sets or use it privately for their own projects.

Users can spend coins to access predictive ecosystem capabilities while data providers, predictive engine providers and application developers are rewarded for their contributions. The ecosystem is designed to provide accurate forecasts, putting predictive capabilities in the hands of consumers and small private businesses.

Building decentralized apps

One of the biggest changes that blockchain offers developers is the ability to create decentralized applications (or dApp) that evade many problems they have today. Originally created using the Ethereum ERC-20 chain, dApps offer a truly decentralized platform that inherits many of the benefits of blockchain, including enhanced democratization, peer-to-peer interactions and a fully trusted consensus-based protocol. The biggest difference, however, is the way data is stored and accessed. Unlike traditional apps where data is centralized in a single location, dApp stores the transaction and other data directly on the distributed blockchain ledger, which removes single points of error and makes the transaction more transparent .

Nonetheless, Ethereum is starting to encounter serious problems due to its difficulty in scaling down huge user bases. Now, Qtum, a foundation that has created its own hybrid blockchain, offers developers a way to create and deploy dApps. Qtum's blockchain integrates bitcoin blockcoin functionality and security features with an Ethereum virtual machine, getting the best of both worlds. Users can create apps on a unique chain, while taking advantage of the best features of the two best-known blockchains.

The ability to build dApp better and do it faster is vital for blockchain and companies trying to integrate it. By simplifying the dApp process, companies can reach the market faster with better products.

Simplify the Internet of things

The Internet of Things is one of the main pillars of greater automation efforts. Connected ecosystems that record, process and share interactions are instrumental in building smarter cities and supporting the next autonomous vehicle revolution. Blockchain means that the the infrastructure has finally reached the modern IoT functionality.

Distributed log technology can record the immense amounts of data produced by IoT systems reliably and transparently analyze data points to produce valuable information. Thanks to its ability to identify, verify and transfer data, blockchain is perfectly suited to host IoT devices for use in public and private sectors.

In the public sector, IoT devices can be used to improve infrastructure management and to update municipal services such as taxes. For private companies, blockchain-based IoT offers better logistics and inventory monitoring, as well as advanced performance and efficiency data.

With a cryptographic token designed specifically for IoT needs, IOTA has emerged as an efficient and scalable technology that uses connected devices to validate value transfers on the distributed ledger. & Nbsp; Between zero transaction fees, emphasis on security and a high degree of compatibility, IOTA is already providing the new gold standard for machine-to-machine communication.

Fortifying identity management

The expansion of the Internet coincided with a rapid increase in identity theft and fraud. & Nbsp; Only in 2017, 2.6 billion documents were lost, stolen or exposed worldwide based on data collected from the infringement level index, with identity theft that only counted 69% of all data breaches. Improved security has also not been sufficient to counter the evolving threats. Fortunately, the immutability of the blockchain and the engraved authentication tools are ideal for preventing identity theft.

The use of identity verification blockchain offers a new dimension to security by removing check bottlenecks and providing more accurate results. For example, The Civic secure identity platform (SIP) is designed for multi-factor authentication without the need for passwords or user names and is based on biometric information verified by the blockchain register.

Each user goes through an identity check, creating a verifiable user ID that has been validated. & Nbsp; From there, partner organizations such as banks or governments can review a user's personal identification information in an encrypted format.

Blockchain holds the key to many forms of disruption between industries, sectors and businesses. Whether through more accessible data intelligence and predictive skills or better educational tools, blockchain-based services show immense potential thanks to transparency and a revolutionary approach to consensus building.

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Since its introduction, blockchain has quickly surpassed its original ambitions.

The numbers speak for themselves, after the first coin offers have collected huge sums of money for blockchain-based projects in the last two years. Even after raising $ 5 billion in 2017, the industry has already exceeded that number in 2018 without signs of arrest.

But as you know by now, it is not the fundraising that counts but the real case of use.

The advantageous design of Blockchain has already led to interruptions in several sectors. In fact, blockchain-based startups have already designed many new use cases that span the entire range of private and public sector services. From logistics to digital identities, the ideas that come from the blockchain are astonishing. These are five of the best use cases that have emerged so far from the nascent blockchain industry.

Simplified supply chains

Global trade has grown unevenly, more as a reaction to the changing needs of organized expansion. This dynamic has also rendered the supply chains unnecessarily complicated, with production activities all over the world and transparency between suppliers that often do not exist. For suppliers, warehouses and even logistics providers, priority to responsibility is not just popular, but essential when considering the countless mobile parts involved.

Blockchain is perfectly suited for the task in question, with real-time monitoring that is particularly attractive for companies with multiple supply chains. The large multinational retailer Walmart has partnered with IBM to work on the Hyperledger Fabric blockchain, for example, to track basic food products from the supplier to the shelf. The correct implementation of the ledger could also prove invaluable to pharmaceutical giants, who are required by law to maintain the chain of custody on each pill.

Make smarter forecasts

Because all transaction data is stored directly in the general ledger, blockchain-based business intelligence and analysis tools are more than ever capable of scraping huge amounts of data and uncovering hidden information. Some have already started to apply the concept for practical needs.

For example, using natural language processing, the equivalent of typing in a blockchain-based AI query or platform query, Endor uses predictive analytics to provide real-time answers. With their forecast protocol, people and businesses can draw on available public data sets or use it privately for their own projects.

Users can spend coins to access predictive ecosystem capabilities while data providers, predictive engine providers and application developers are rewarded for their contributions. The ecosystem is designed to provide accurate forecasts, putting predictive capabilities in the hands of consumers and small private businesses.

Building decentralized apps

One of the biggest changes that blockchain offers developers is the ability to create decentralized applications (or dApp) that evade many problems they have today. Originally created using the Ethereum ERC-20 chain, dApps offer a truly decentralized platform that inherits many of the benefits of blockchain, including enhanced democratization, peer-to-peer interactions and a fully trusted consensus-based protocol. The biggest difference, however, is the way data is stored and accessed. Unlike traditional apps where data is centralized in a single location, dApp stores the transaction and other data directly on the distributed blockchain ledger, which removes single points of error and makes the transaction more transparent .

Nonetheless, Ethereum is starting to encounter serious problems due to its difficulty in scaling down huge user bases. Now, Qtum, a foundation that has created its own hybrid blockchain, offers developers a way to create and deploy dApps. Qtum's blockchain integrates bitcoin blockcoin functionality and security features with an Ethereum virtual machine, getting the best of both worlds. Users can create apps on a unique chain, while taking advantage of the best features of the two best-known blockchains.

The ability to build dApp better and do it faster is vital for blockchain and companies trying to integrate it. By simplifying the dApp process, companies can reach the market faster with better products.

Simplify the Internet of things

The Internet of Things is one of the main pillars of greater automation efforts. Connected ecosystems that record, process and share interactions are instrumental in building smarter cities and supporting the next autonomous vehicle revolution. Blockchain means that the infrastructure has finally reached the modern IoT capabilities.

Distributed log technology can record the immense amounts of data produced by IoT systems reliably and transparently analyze data points to produce valuable information. Thanks to its ability to identify, verify and transfer data, blockchain is perfectly suited to host IoT devices for use in public and private sectors.

In the public sector, IoT devices can be used to improve infrastructure management and to update municipal services such as taxes. For private companies, blockchain-based IoT offers better logistics and inventory monitoring, as well as advanced performance and efficiency data.

With a cryptographic token designed specifically for the needs of IoT, IOTA has emerged as an efficient and scalable technology that uses connected devices to validate value transfers to the accounting register. Between zero transaction fees, emphasis on security and a high degree of compatibility, IOTA is already providing the new gold standard for machine-to-machine communication.

Fortifying identity management

The expansion of the Internet coincided with a rapid increase in identity theft and fraud. In 2017 alone, 2.6 billion documents were lost, stolen or exposed worldwide based on data collected by the Breach Level Index, with identity theft accounting for 69% of all violations some data. Improved security has also not been sufficient to counter the evolving threats. Fortunately, the immutability of the blockchain and the engraved authentication tools are ideal for preventing identity theft.

The use of identity verification blockchain offers a new dimension to security by removing check bottlenecks and providing more accurate results. For example, the Civic Secure Identity Platform (SIP) is designed for multi-factor authentication without the need for passwords or user names and is based on biometric information verified by the blockchain register.

Each user goes through an identity check, creating a verifiable user ID that has been validated. From there, partner organizations such as banks or governments can review a user's personal identification information in an encrypted format.

Blockchain holds the key to many forms of disruption between industries, sectors and businesses. Whether through more accessible data intelligence and predictive skills or better educational tools, blockchain-based services show immense potential thanks to transparency and a revolutionary approach to consensus building.