Blockchain technology can be of great help in the banking, insurance, medical and pharmaceutical industries, the supply chain in many sectors (agribusiness, luxury, international trade, distribution, wine, aeronautics and cars), the music industry, energy and real estate. Blockchains can replace most “trusted third parties,” including banking, notaries, land cadastre, etc., with distributed computer systems.
1. Medicines / Pharmacy
Blockchain technology can be used to improve the integrity of drugs. If drugs can be clearly identified and tracked from production to consumption, it can save up to one million people a year. Because DHL is already working with Accenture to create a serialization system based on blockchain technology.
“At the moment there are already more than 7 billion unique serials in the system.” In addition, the system can now process more than 1,500 transactions per second, ”said Scott Allison, president of DHL Healthcare.
Allison means not only the capabilities of the system. For example, tracking and tracing serialization should reduce costs, increase security and reliability, and eliminate error-prone data movement. Technology can add additional verified information to an item that cannot be manipulated. Validation is carried out by all participants.
“THE SYSTEM DOES NOT ONLY ACCEPT THE REQUIREMENTS FOR GLOBAL SERIALIZATION, THIS EVEN EXCLUDES THEM,” says Allison
2. Fashion / Fashion
The CGS project allows consumers to track the entire life cycle of clothing. It brings together companies from the field of fashion, clothing and consumer products for collaboration. With this solution, consumers no longer need to blindly rely on value in the field of sustainability. Blockchain technology allows you to track the stability and compliance of clothing
3. Cross-Border Payments
In developing and underdeveloped countries, access to capital for small food producers is often a big problem. Binkabi is a cross-border trading platform for agricultural products, which is developed using the Sweet Bridge block bridge solution. Thus, a fair trade system for goods must be developed.
IBM recently announced a solution for the banking block chain. This is done to ensure that international payments are faster and more economical.
4. Food Security
In the area of food security, IBM collaborates with food manufacturers Dole, Nestlé and Walmart. Thus, data are available to breeders, suppliers, processors, traders, retailers, not only for all parties involved, but also for supervisory authorities and consumers. Thus, each transaction can be traced and all food information can be viewed. Since all members of the food system have access to the blockchain, contaminated food can be quickly removed from the value chain before it reaches the shelf.
The World Wide Fund for Nature (WWF) "tracks" fish and seafood using blockchain technology. In this project, technology should help in the fight against illegal fishing. However, complete traceability of fish and seafood is also of interest to wholesalers of fish and fish retailers, because they want to prevent their products or brands from being linked to illegal activities.
"Consumers also increases following cases fully investigated FISH AND SEAFOOD THAT IS NOT AGAINST ILLEGAL FISHING" – says Bubba Cook, the WWF program manager for tuna in the western central Pacific.
5. Humanitarian crises
Blockchain technology is not only used by companies. Currently, the United Nations is using blockchain technology in 16 areas, including:
· World Food Program (Refugee Assistance)
· Office for the Coordination of Humanitarian Affairs (donor funding, protection and monitoring of the supply chain)
In addition, it is currently exploring how blockchain technology can be used to solve current problems, such as child trafficking, according to Mahrina von Schlegel, managing director of Nonprofit Embassy 2.0.
Within the framework of public-private partnership ID2020, Microsoft and Accenture announced a partnership. The goal is to provide 1.1 billion people with a legal form of identification and identification using blockchain technology.
In collaboration with Everledger, a global jewelery company seeks to use blockchain technology to accurately track the origin of diamonds and other gemstones. This ensures that only conflict-free stones are processed.