The Ultimate Guide to Understanding
Blockchain Applications

Discover the Applications and Use Cases for Blockchain Technology

What are Blockchain Technology Applications and Use Cases?

Below we explore the use cases where blockchain technologies can be applied to either improve existing processes or unlock new technologies.

In other words, what type of applications can we build using blockchain technologies? From a new type of money (i.e. cryptocurrency) to powering your digital identity in the internet-of-things, the blockchain technology application stack is the engine powering these new innovations. Below, we explore some of the most promising blockchain applications.

Blockchain Applications and Use Case List

Financial Services

Blockchain Technology in Finance

Blockchain financial services are redefining the existing rails of our current financial markets infrastructure. Areas of this sector experiencing significant activity range from backend clearing and settlement, to global capital markets architecture. Distributed ledger systems in some of these cases do not need to be entirely decentralized, and several financial institutions are looking at creating their own “private blockchains”.

Government

Blockchain GovernmentBlockchain Technology (also called Distributed Ledger Technology (DLT)) is a potential vehicle to improve government services and foster more transparent government-citizen relations. The distributed tech can work to dramatically optimize business processes through more efficient and secure data sharing.

Healthcare

Blockchain HealthcareBlockchain Technology has the potential to disrupt the healthcare industry’s centralized operations, opening the door for optimized business and service delivery. The Distributed Ledger Technology (DLT) is an innovation fertile with the possibility of improved transparency, security, and efficiency. Smart contracts on the blockchain operate automatically without third-party personnel needed to verify documents or specific steps using pen-and-paper processes. With automation comes a reduction in the notorious bureaucracy that currently stands in the way of patients receiving the best care possible.

Identity

Blockchain technology provides the ideal engine to power digital identities. While digital identities are emerging as an inevitable part of our connected world, how we secure our online information is coming under intense scrutiny. Blockchains based identity systems can provide a solution to this issue with hardened cryptography and distributed ledgers.

Internet-of-Things (IoT)

Blockchain Internet of Things (IoT)Blockchain technology provides the ideal engine to power a fairly new concept regarding our new connected world: Internet-of-Things. Spending on the internet-of-things market is expected to top the $1 Trillion mark in the coming years. This opportunity is poised for Blockchain Internet-of-Things to step in and provide the ultimate system to track the unique histories of the billions of smart-devices coming online over the next few years.

Insurance

Blockchain Insurance ApplicationsBlockchain Insurance allows for the entire insurance industry to dramatically optimize business processes by sharing data in an efficient, secure, and transparent manner. Using blockchain to revolutionize insurance policies shifts systems onto smart contracts operating autonomously on peer-to-peer networks, helping to phase out antiquated pen and paper processes and eliminate red tape the insurance industry is notoriously riddled with.

Money

Blockchain Money ApplicationsCryptocurrencies provide people across the globe with instant, secure, and frictionless money, and blockchains provide the permanent record storage for their transactions. Prior systems required users to trust a central authority that the monetary supply and payment transfer will not be tampered with. Blockchain technologies obsolete this method of payment transfer by providing a trustless environment so that there is no longer a need to rely on a third-party to ensure your payment transfers, thus creating a Person-to-person(Peer-to-peer) environment.

Music

Blockchain Music ApplicationsApplying blockchain technology to music applications allows for a paradigm shift in the way artists can control their musical work. From ownership rights, to royalty payments and first edition rights, blockchain technology applications empower artists to extend ownership of their works.

Real Estate

Blockchain technology will inevitably become a foundational pillar of the real estate industry. In a mostly paper-record based industry, block chain real estate allows for an unparalleled upgrade in how records are stored and recorded. Utilizing blockchain applications in essential functions such as payment, escrow, and title can also reduce fraud, increase financial privacy, speed up transactions, and internationalize markets.

Supply Chain

Blockchain Supply ChainManaging the modern, often global, supply chain is a series of intensive processes that require perfect orchestration between many moving parts and actors. Linking and creating the links to distribute goods and services looks much more like a web than a chain in our increasingly “smaller” global world.

Contracts

In blockchain law applications, smart contracts are verified on the block chain, allowing for programmable, self executing and self enforcing contracts. Blockchain law also encompasses the idea of “Smart Corporations” which includes concepts such as Decentralized Autonomous Corporations (DAC) or Decentralized Autonomous Organization (DAO).