Here is a list of different types of companies, individuals and governments that can benefit from blockchain
Supply chain blockchain applications will reimagine the sector by making it leaner and adding more trust amongst stakeholders.
A blockchain network can be used in the healthcare sector to record and transfer patient data between hospitals, diagnostic laboratories, pharmacies doctors, etc.
Thanks to its immutability, retail blockchain applications ensure manufacturers and buyers get the right products and fakes are weeded out.
Blockchain will have a massive impact on the financial services industry wherein vendors will receive payments quicker, stock exchanges can immediately settle purchases among many others.
From doing away with paper-based communication that reduces costs and human errors to creating comparable data accessible to everyone, the Real Estate industry can transform itself with blockchain technology in many different ways.
Whether its looking for car services, vehicle parts or availability of different models, the auto industry can benefit immensely from blockchain-based apps by streamlining all available data onto a public ledger.
Data privacy, royalty payments, and intellectual property piracy faced by the media industry can all be managed and effectively made redundant with the use of blockchain tech.
If the limited releases on blockchain apps by artists are anything to go by, the music industry is poised to save billions by revolutionising the rights and royalties process.
Gaming blockchain applications can be used for a wide variety of use cases, be it creating NFTs or adding power-ups through crypto transactions etc that can all be documented on the blockchain.
NFTs are used to prove digital, physical or intellectual property ownership and have relied on blockchain apps to prove their validity.
Smart contracts are enforced in real-time on a blockchain without any middleman and have a high degree of transparency that can be used in various industries such as consumer companies, governments, logistics, e-comm etc.
The Internet of Things (IoT) is an obvious use case for blockchain applications that will look to make IoT products safe from frauds and scams.
The post-pandemic factory requires the entire network of machines, parts, products and value chain participants such as raw equipment providers and logistics companies to work in close cohesion, a solution that can be offered by blockchain apps.
From speed, efficiency and reduced fees, the original idea of Bitcoin to facilitate cross-border Payments is now one of the best use cases of blockchain that can save companies time and money.
Blockchain apps for governments can be used to cut tedious manhours of bureaucracy each year, hold public officials accountable through smart contracts based on their performance and record as well as be used to improve efficiency amongst the public by making birth and death certificates available on a ledger and reducing paper transactions among other use cases
Since every transaction in a blockchain leaves a permanent trail of unalterable records, a public blockchain ledger can validate and record each transaction's complete history, thereby significantly reducing cases of anti-money laundering across the globe.