3 blockchain use cases far beyond crypto

1 year ago

Blockchain usage cases person expanded acold beyond cryptocurrency successful the past years, with aggregate industries embracing the exertion successful a wide scope of fields, including healthcare, logistics, and fiscal services.

The hype has galore reasons down it. Blockchains are decentralized, transparent, and summation the capableness of a full network, opening a model for solutions that necessitate important computational power. More importantly, it gives users the capableness to power their assets, including their data, without relying connected 3rd parties.

As blockchain evolves, companies crossed the satellite are moving to find the champion ways to instrumentality the exertion connected a scope of applications. Cointelegraph reached retired to projects that are disrupting industries and bringing blockchain person to people's regular lives to get immoderate further insights.

Healthcare connected the blockchain

Medical records person agelong been considered the domain of clinicians oregon wellness institutions worldwide. In 2020, a database that included delicate accusation specified arsenic authorities IDs, and taxation ID numbers of implicit 115,000 radical who applied for COVID-19 circulation permits, was exposed successful Argentina.

This incidental inspired ShelterZoom to make a solution to shields patients’ aesculapian information from cyber breaches similar this successful future. The institution created a smart-document SaaS provider, and partnered with a backstage infirmary to springiness patients implicit ownership and power implicit aesculapian records.

"Each diligent grounds is tokenized, meaning a backstage cardinal is attached to each online record," ShelterZoom CEO Chao Cheng-Shorland told Cointelegraph.

Through a blockchain-based plugin hold oregon mobile app, users tin entree medical-record dashboards and transportation retired each required operations astatine immoderate time; it besides allows patients to way email attachments and revoke access, careless of whether the recipient has opened the email. The enforcement explained:

"By moving grounds keeping to a blockchain ecosystem, providers and patients tin person entree to aesculapian records instantly, alternatively than waiting for insubstantial records to beryllium delivered oregon faxed."

More than 300,000 patients presently person entree to the Web3 exertion arsenic a effect of the partnership, and determination are plans to grow the work to different healthcare providers successful Argentina.

Data ownership

Data has go a invaluable assets successful the decades since the internet’s debut. Historically, users person fixed up their backstage accusation to websites and services for free, but bash not payment financially erstwhile those companies merchantability their backstage accusation to 3rd parties. With Web3 however, users whitethorn erstwhile again instrumentality power of their ain information — and find whether to monetize it for their ain benefit.

Dimo is simply a decentralized transport information protocol that allows users to make verified conveyance information recordings. Owners tin stock this accusation privately with applications, enabling them to negociate amended security and financing rates. Referrals and information successful the web are rewarded successful the autochthonal DIMO token.

CoinFund CIO Alex Felix, 1 of DIMO's investors, told Cointelegraph:

"Whether it is NFTs oregon Gaming, the much blockchain exertion is utilized extracurricular of trading and speculating, the much we expect consumers to recognize the worth of this exertion much broadly. We privation to get to a spot wherever consumers are choosing crypto exertion without reasoning astir it, and that comes from focusing connected the champion usage cases."

Felix believes that projects focused connected first-party information volition regenerate cookies successful advertizing and underpin personalization. "Web3 allows users to monetize their ain data, and consumers basal to payment materially from this cardinal innovation made imaginable done blockchain technology," helium noted.

Luxury turns to blockchain

The Aura Blockchain Consortium was founded to let luxury marque customers to verify merchandise authenticity. Through a concern with Aura for instance, Prada is enabling clients to hint recycled golden jewelry and diamonds, ensuring their authenticity and transparency astatine each measurement of manufacture.

Other members successful the consortium see LVMH brands specified arsenic Louis Vuitton and Christian Dior. The radical offers its clients a diamond certificate powered by Aura, which stores each stone's characteristics, provenance, and journey.

Traceability, particularly arsenic it relates to diamonds, has agelong been a situation to the jewelry industry, which strives to guarantee that lone conflict-free diamonds are sold.

Aura is based connected the Ethereum blockchain and uses Microsoft Azure. Traceability Smart Contracts connected the task and blockchain infrastructure were developed by Consensys. Other backing members besides see Mercedes-Benz and Cartier.

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