Top Blockchain Use Cases and Applications Worth Exploring in 2020
20 January, 2020
Blockchain use cases and applications worth extra attention in 2020, based on PixelPlex R&D department research.
Even if it seems no big deal to google the blockchain use cases that are to hit next year, chances you’ll have a tough time scraping through the hell of inarticulate copypasta. We’re so getting your point! For Common Sense’s sake, we’ll put it as clear and short as we can.
Medicine & Healthcare Blockchain Use Cases
Health & Life Insurance
When it comes to execution of insurance agreements and payments, blockchain applications bring in their automated claim management and data collection power. No bureaucracy drama, no workflow mess-up. Via decentralized consensus protocols, smart contract parties build trust and stay updated on every step since claim submission, 24/7.
And yep, security topic is never dead. Distributed ledger tech comes in handy for validation of agreement and transaction records. Once a fake claim or other fraudulent data gets submitted, smart contract alerts insurers or clients on that. No Big Brother watching — complete order and control though.
Blockchain in EHR & Patient Data Storage
As soon as the electronic health records initiative came into the scene, it was basically cold-shouldered right off. And that’s for a reason. Patients were getting increasingly tense about the chances of their health issues leakage. Medical community was also concerned about clinical trial results safety.
The only thing that can be more distressing than visiting a doctor is finding that your diseases are the talk of the town. And yep, among the most apparent blockchain use cases we can’t but mention smart contract-based EHR data storage. Digital medical records are the low-hanging fruit — hackers will always be aching to kick in. So, forewarned is forearmed, right?
E-Medicine & Healthcare IoT Blockchain Use Cases
Pretty sure we aren’t done with the most explosive blockchain technology applications until we cover eMedicine and healthcare IoT. In view of trust-building nature of distributed ledger solutions, they can be especially pivotal over there in the data-intensive medical IoT devices surrounding.
Quite naturally, healthcare tech contributors aren’t swimming against the current. They quickly got it that blockchain perfectly qualifies for sensitive data protection. Meaning, the tech is a terrific fit for remote patient monitoring solutions. Amazingly, it can power wearables, ingestibles, implantable devices, vital sign trackers, eHealth and teleHealth platforms — whatnot. Above that, blockchain applications enable patients control access to device readings and test results. Raw intelligence, in a word.
Prescription Medicines & Medical Equipment Supply Chains
Had a chance to deal with medicine providers or equipment retailers? Then you must be well aware they got a huge taste for money. Floods of counterfeit, placebo, pharma fraud, and defective equipment. Sounds like a piece of a bizarre conspiracy theory you should be telling your psychiatrist, right. Too sad but true though. Believe it or not, fighting this villain army is yet another point to the disruptive blockchain use cases.
Before the unprincipled dealers are put on alert, you can build a blockchain-based system that will be your healthcare standards watchdog. Smart protocols flag certification discrepancies in a flash, while retail anti-counterfeit solutions help track prescription medicine or equipment supply chain all the way from production to sale and distribution. Moreover, blockchain applications can help monitor shipping conditions and control each transaction via a crypto wallet. See? A breakthrough in the making.
Blockchain Use Cases in the Automotive & Trucking Businesses
When you are to manage an enterprise that revolves around carrying vehicles or goods, responsibility pressure is always on. In this respect, blockchain technology applications can do a complete makeover in terms of workflow transparency and efficiency. Be it odometer fraud, data or freight loss, or fake vehicle history, blockchain will nail this known unknowns down.
Don’t want your goods get stuck in the middle of nowhere? Wish to tell stolen and normal cars apart? Then security assurance upon a smart contract sits well with you. Whatever sophisticated your business routines are, you’ll stay in charge of them in full.
Donation & Crowdfunding Platforms
Donations are what makes us true humans. Or cheated humans, as the case may be. With shell companies and fake charity funds popping here and there, the trust call stands. From a pragmatic standpoint, going sceptical about any claim for money is worth the nerve and sometimes reputation.
Oh, prejudice is out of our nature. Course, reaching out for money via a crowdfunding platform is no sin. Yet, first off you should take care to ensure end-to-end payment record transparency. And yep, all eyes on blockchain use cases again. By far, the most popular one is resorting to an immutable ledger to legally gather money. Full control and detailed reporting at each party’s side, lower transaction fees for a freebie. Donation anyone?
Blockchain Technology Applications for Gun Control
Probably the easiest way to make a peaceful party at your next door neighbours pretty explosive is bringing up the gun control debate. Right, “Houston, we’ve got a problem”. Each attempt to break the gun lobby wall ends up with a complete dumpster fire. All bureaucracy, no mission.
Ever since blockchain applications started working their magic at a cross-industry scale, the ledger tech became quite a game changer for the issues around firearms possession. Upon blockchain, regulators can build distributed databases that store the information on gun dealer licenses and vendors. Beyond that, smart contracts help track the arms from manufacturing to transfer to purchase, while handling the customer background check and sale approval.
Blockchain Gaming Platforms
Easy come, easy go — times of this kind of treatment to in-game assets can soon pass with the growing adoption of blockchain games. The thing is, tokenized collectibles get bigger then just a trifle to dabble with. When it comes to blockchain use cases, in-game assets can be easily exchanged or traded whenever a player wishes, with no need to resort to grey market.
Basically, a trusted hack-proof environment of a blockchain gaming platform pays off for all the parties — from publisher to investor to user. Thanks to in-game rewards, non-fungible assets, and instant payouts with zero go-betweens, game developers get a chance to properly monetize their titles and increase the average revenue per paying user. Investors, in their turn, can consider a wealth of new marketing opportunities via the high player engagement. Finally, gamer folks make sure they aren’t cheated throughout the whole session, get their perks and just chill out.
The house always wins (which isn’t suspicious at all). Should it always be like that? Spoiler alert. Nope, the jinx is off. The times came again when you can just sit back, have fun and make new gambling fellows. No suspense thing like “the casino must be giving me the finger behind my back anyways”.
Out of all remarkable blockchain use cases, gambling solutions upon the decentralized consensus protocols are truly a win-win tech. Yes, the house may finally not wish you to always lose. Some of today’s blockchain gambling contributors prefer to capitalize on charging small transfer fees, ruling out payment delay, and keeping intermediaries away. Long live the fair play!
Blockchain Use Cases in Arts, Media & Entertainment
Censorship-Proof Data Publishing
Forecasting just a bit, in some couple of years blockchain technology applications will make creative workers, researchers, and investigative journalists way more independent in the long run. To secure themselves from the people that freak out and stigmatize them for seemingly inappropriate pieces of writing, the venturers can rely on blockchain data publishing platforms.
Unlike traditional media, distributed ledger-based solutions ensure no censorship or side editing will creep upon your information input and storage. No cyber attacks, no blackmailing, no dissing. And again, speaking of copyright and intellectual property, licensing and royalty management may well be considered the most practical among other blockchain use cases. Add to this piracy monitoring, print supply chain tracking, and e-book ownership control. A small but decisive fraction of authorship-protecting power.
Blockchain Applications in Advertising & Music Platforms
Here’s yet another case when meticulous data verification is of essence. Sure enough, ads or music artifacts and their licensing aren’t separable. Via a shared-access rights house upon smart contract tech, you’ll nicely settle things with safe asset storage, fair royalty payment, hack-proof transactions, and assured usage permission.
As for advertisers and linking publishers, they can also build registries of fake and fraudulent sites to avoid placing ads on. Be it a content aggregator, licensee, or a third-side distributor, every business can contribute to such ownerless platforms. The bottomline is that all the data and money exchange workflows are cryptographically validated and confirmed across the whole network.
Online Arts Auctions
Heard a thing about Christie’s record-breaking auction where an American arts tycoon Barney A. Ebsworth raised over $300M? On top of the mind-blowing painting estimations, the loud headlines gave away that the sale recordings were underpinned by a decentralized ledger tech.
From then on, blockchain technology applications keep revolutionizing digital sales domain. Distributed nodes track bidder-seller ratings and secure transaction history, while smart contract logic ensures a clean no-delay payment upon the deal completion. In a word, auctions made easy.
Blockchain Use Cases in Banking & Payments
Lending & Credit History
Since lending is a long-established industry, you might not care that it abounds with tons of workflow imperfections (which isn’t a good sign you know). Ignoring blockchain applications and their embrace of loans and banking liquidity means nothing but staying fundamentally detached from reality. We’ll tell you what, lending can perfectly do without ages of waiting for loan approval, skyrocketing fees, and middlemen involvement nightmare.
Sounds like a monumental overhaul, doesn’t it? The thing is, the distributed ledger tech can be an unbiased trustee that easily competes with costly and cumbersome bank procedures. In a matter of minutes, you can apply for a loan and obtain approval. No scare — your proof-of-funds, credit history, and payment roadmap will be instantly handled via a fair cyber-proof smart contract consensus.
Precious Metals Tokenization & Proof of Origin
“Diamonds are a girl’s best friend”, that’s undeniably true. Similarly, blockchain applications can be considered a close friend to the individuals or businesses that deal with precious metals. To handle the risks around physical metal trading and transportation, the easiest way out is to replace it with a liquid token.
Blockchain-powered solutions like asset tokenization platforms pay off via streamlined transactions, while smart contracts force out excessive doc bureaucracy and make certification a breeze. Consistently, nothing compares to distributed ledger security when it comes to high-value asset data storage, authentication, crypto exchange, and step-by-step supply chain tracking. No chance for a vague gold origin, once and for all.
Blockchain Use Cases in Credit Card Payments
This year, the financial industry saw an extraordinarily disruptive transition. To be specific, that’s what the word is about Shinhan Financial Group winning patent for blockchain-based credit system. As the Korea banking giant’s affiliate reported, they have built a service that allows for a comprehensive credit card functionality — from setting the spending limit to regular installments and merchant payments.
Yep, the future is now. Deloitte survey shows a blazing-fast adoption of blockchain technology applications across payment transactions. Basically, we can read between the lines: the ledger is about to leave the traditional credit cards behind in some couple of years. Encrypted, cost-efficient, correctly operating without reaching to clearing houses and banks. Beside this, blockchain-based cards help automatically exchange fiat to cryptocurrency when it’s needed for payments, thus also allowing users to easily enter crypto trading platforms. Not a terrible idea, right?
Transactions, Notary Certification
Speaking of transactions within the legal domain, we cannot but list notary routines, which as we all know hardly ever been a walk in the park. Obviously, the industry is aching for consistent revamps. So, what’s in it for us with regards to blockchain use cases? Well, strip away the details, and what we have is just existence certification, which is no big deal for the distributed ledger.
How does this work under the hood? Technically, first off documents get hashed, with the hash value recorded on the ledger. Smart contract stores docs in a way that any changes could be immediately traced via the timestamps. After a series of hashed document verification transfers upon encrypted proof-of-ownership permissions, the parties get their transactions and docs neatly certified. No excessive intermediaries, no paper turmoil, no whopping fees and payments. Document notarization apps are sheer beauty.
Blockchain Use Cases in HoReCa & Sharing Services
Tourism & Attractions
With overall business digitization and automation, plenty of market domains come and go. Will the tourism industry stand the test of time? Supposedly, it’s likely to make it, except that it badly needs quality updates. In this respect, blockchain technology applications can do a fabulous job behind the scenes.
As of today, the distributed ledger helps handle tamper-free invoices right via a smartphone, stores loads of trusted attraction reviews and ratings, and leaves no chance to fake or remove data. Beyond that, smart contracts can guarantee efficient booking with zero middlemen and commission fees. Also for the record, blockchain’s promise is wide for luggage tracking and client identification, which implies faster check-ins and less worries about customer satisfaction.
Nothing’s easy with the rental property business. Yet, blockchain applications are capable of tackling the tough risks that lurk here and there. Quite literally, your hospitality company or a hotel can use a perfectly safe decentralized marketplace with cryptographically secured transactions. Your deposit funds will be stored within a digital custody, so you’ll be able to comfortably handle crypto payments. Again, remember about zero commission.
Furthermore, you’ll get a surefire way to avoid dealing with unfair clients, inasmuch as blockchain enables to check user identities and rental histories prior to signing an agreement. You may also blacklist clients and service providers, as the case may be. No strings attached, just business.
Blockchain Use Cases in Ride Sharing
Modern life is decisively unimaginable without ride sharing services. Amazingly, considering blockchain technology applications across this domain isn’t about pure theorizing anymore. Now let’s be specific. Not to pull the data and payment security card that often, we’ll bring up the opportunity of peer-to-peer communication between ride sharing service provider and user via smart contract.
Profit is what’s always in mind. So, as opposed to the current pay patterns, clients can look up some better price-quality ratio on their own. Importantly, through a transparent distributed ledger both driver and passenger can check each others’ reputations and rankings. Yep, the Black Mirror series stopped being sci-fi. The word is also that in the near future blockchain can power the integration of autonomous cars into ridesharing fleets. What a deal it could be!
Loyalty Programs, Gift & Bonus Cards
We’re all aware of how difficult it is today to lure new clients. People are extremely eager to get away with lower costs, but you can’t undercut your competitors all the time. At this point, the best is to consider investing in customer loyalty. If made carefully, not only does it help foster client retention, but provides a wealth of consumer data you can further use to update services, products, and marketing strategies.
Blockchain applications for digital gift and bonus cards are meant to build transparent unified programs with tiny transaction costs, predictable no-redemption rules, and no third parties. Reward crypto tokens get permanently recorded in a smart contract, meaning a client can use, trade or exchange them whenever they’re needed. You may also partner with other companies to attract customers with interoperable programs and doubled bonus offers. Combinations are in spades, just tap them.
Blockchain Use Cases in Smart Energy
Decentralized Energy Data Registry & Marketplaces
With energy sources becoming increasingly varied, the industry is badly aching for rejuvenation. Evidently, weighing in on blockchain use cases to contribute to this sophisticated mission, we can bring to the table distributed data registries. There’s much to them that helps shrug off the energy use and distribution issues.
Irrespective of energy type — be it gas, water, or electricity — the decentralized ledger is scrupulously accurate while collecting and safeguarding consumption-related data. Via smart contract-based marketplaces, stakeholders can also steer clear of administrative bottlenecks to efficiently estimate and trade tokenized energy savings. Automated billing, crystal transparent P2P transactions, easy communication with IoT infrastructure if needed — sounds like a plan.
“One person, one vote”. Isn’t that how it usually works? Yet, as long as it takes around the world, cases are frequent when a vote stops belonging to a person. Specifically, absentee voting, fraud, ballot box stuffing, and more. At this point, blockchain technology applications can help make our basic voting rights great again.
With the kit and caboodle of trust tools that distributed ledger offers, elections and referendums can go way ahead in terms of accuracy, openness, and immutability. On top of increasing voter participation, blockchain-based systems cut associated costs and time as opposed to the traditional in-person voting, manifold.
Blockchain Use Cases in Border Control
We’ve all been there. Sticking around the border for what seems an eternity and thinking “Gosh, I know they do it just because they can”. This shouldn’t be the case any more. Not in the 21st century when the chances are that soon borders will be gone for good. So, high time to take border control to a whole new level via blockchain applications underpinning.
For starters, the ledger’s decentralized and scalable architecture implies rock-solid security of passenger arrival and departure registry. What’s more, by integrating border kiosks with blockchain-powered back-end where biometric data and digital identities are stored, you can make the entry and exit procedures completely gateless. Plus, get a terrific unified log for governments to keep tabs on the migration level.
Global ID & Certification
Don’t fear to pioneer innovation right now where you are. Practice shows, it can be quickly taken up in the rest of the world. Yep, the international ID thing should be unequivocally put on the to-do list. Getting as popular as Baby Yoda (though hardly ever that popular, okay), global ID and job certification aren’t just about a marketing gimmick all for nothing.
Out of other blockchain use cases, the ledger-based identity and achievements verification systems look to no ends appealing. Cryptographic data protection, doc hashing, zero fraud and third-party interference — all by default. Once again, we can bring up the no-border planet trend. Clearly, having blockchain-powered credentials will do to become a citizen of the world. Like — come along, jump on board wherever your qualification is needed.
Blockchain Use Cases in Real Estate
You never know at what point things may get creepy while dealing with real estate, which for many of us is the formal English for real trouble. If you’re involved in the industry, an authentic way to ensure the kept deal promises is to opt for blockchain applications. Take property purchase, right to the point. An entirely fulfilling solution will be a ledger-powered marketplace with a detailed listing, doc exchange and transaction platform, and registry.
Just imagine, you’ll handle land titles and ownership records directly via a manipulation-protected protocol. No disputes, as smart contracts enable investors to take their due diligence time and track the whole property journey right off. By tokenizing their shares, the owners can also trade, reinvest, and divide them in the open market. High entry barriers broken, market participation revived, developers rejoice.
Land Registries, Escrow, Rights & Inheritance
It’s not a top secret that blockchain is overwhelmingly cut out for the above mentioned domains. At the end of the day, how do you know whom to trust high-privacy docs or costly property? Not to be an easy win for hacker attacks, a rights storage or cadastre system shouldn’t keep all data in one place. Given this, the trust award goes to the decentralized ledger, again.
Those who insist that blockchain use cases are way far from replacing the traditional paper bureaucracy are dead wrong. Smart contract protocols indeed efficiently and widely handle property rights verification, land registry transactions, will execution and inheritance. Meaning, no good old “in due order”? No “within eight months to triple infinity”, no nothing? Sir, yes, sir. Exactly.
Blockchain Use Cases in Transportation
Passenger Traffic & Services, Vehicle Repair Databases
Whether we like it or not, it’s in our nature to disregard important things. Unless they come printed on a fridge door, nobody’s going to remember them. Taking care about public transportation improvement is what our infrastructure stakeholders often look beyond. To think ahead, a one-million idea is to finally embrace blockchain use cases in passenger services.
First off, you can replace the outdated ticketing systems with digital purchase, storage, and validation platforms upon a distributed ledger. Due to blazing-fast transaction processing through the lightning protocol and multi-level security precautions, they operate tons better and safer. With the traffic and ticket demand info regularly updated via smart contracts, it’s also possible to optimize transportation networks. For frequent and careful transport usage, you can even reward commuters with tokens. More to this, having repair and maintenance data stored on blockchain, dispatchers will be able to check the most current vehicle safety stats prior to starting their route.
Logistics & Supply Chains
Proof-of-Origin, Fleet & Doc Management
Once you get to grips with logistics or supply chains, you know how many times a day there’s a reason to go off as though nobody’s watching. Days in and out waiting for a payment, delays and extra costs to employ bankers or lawyers for contractual agreements. Excessive trucking intermediaries, for good measure.
Here’s where you definitely need to explore blockchain applications. With the decentralized ledger’s self-executing contracts, you don’t get mixed in with the multi-layer headaches. Since all the docs on goods origin and further market iterations get stored upon blockchain, you’ll be completely aware of every step within the certification and logistics process. Digital goods authentication, automated doc flow and cargo tracking — perhaps not awful findings to qualify for supply chain super power.
Your Blockchain Use Cases in Focus
Going to the bottom line of all this, we’re burning to tell you that the blockchain use cases we’ve talked about are just the tip of the iceberg. This isn’t to say that the distributed ledger is almighty — far from it. Yet, it’s quick and worldwide embrace itself is evidence that blockchain’s promise is unimaginably large.
If you have a tech challenge or a ledger-based project in mind, don’t waste a minute, leave us a snapshot of it. We’ll totally find the best solution to nail down your objectives, cause blockchain is what we do for a living.
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