When we published the industry’s first infographic/report on the various non-financial use cases of blockchain, the response for it was unprecedented with thousands of page views, thousands of social shares and numerous queries being sent to us. Thanks for such an overwhelming response. This is our third update to provide a comprehensive picture of the various applications that are being explored with blockchain.
It is now a known fact that the use cases of blockchain have been increasing by the day. There has Increasingly been a large number of ways in which real-world assets could be linked to the blockchain and traded digitally. A proof-of-concept is being run for trading commodities (like physical bars of gold, silver and diamond) after being authenticated via blockchain, establishing ownership of real-estate properties, to provide election voting, etc.
Apart from startups, banks also have been actively investing in this decentralized system as we have shown in a timeline. Various banks have shown interest and started experimenting with the blockchain.
The below infographic provides a snapshot of companies and the broad applications that they are providing over blockchain. These include both non-financial and financial/currency-related (bitcoin and other digital currencies) applications.
Below is a quick description of each of the use cases:
App Development: Proof of ownership of modules in app development
Digital Content: Proof of ownership for digital content storage and delivery
Ride-Sharing: Points-based value transfer for ride-sharing
Digital security trading: Ownership and transfer
Digitization of documents/contracts: Digitization of documents/contracts and proof of ownership for transfers
Decentralized storage: Decentralized storage using a network of computers on blockchain
Company incorporations: Digitizing company incorporations, transfer of equity/ownership and governance
Decentralized Internet and computing resources: Decentralized Internet and computing resources to cover every home and business
Home automation: Platform to link the home network and electrical devices to the cloud
Digital identity: Provides digital identity that protects consumer privacy
Escrow/custodian service: Escrow/custodian service for the gaming industry; loan servicing and e-commerce
IT portal: A smart contract IT portal executing order fulfillment in ecommerce/manufacturing
Patient records: Decentralized patient records management
Digitizing assets: Improves anti-counterfeit measures
Reputation management: Helps users engage, share reputation and collect feedback
Prediction platform: Decentralized prediction platform for the share markets, elections, etc.
Enables authenticity of a review: Enables authenticity of a review through trustworthy endorsements for employee peer reviews
Marketplace for sales and purchases of digital assets: Proof of ownership and a marketplace for sales and purchases of digital assets