Blockchain use cases

Know more about Blockchain: Overview, Technology, Application Areas and Use Cases

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TNW uses cookies to personalize content and ads to make our site easier for you to use. One particularly impactful use case is making it easier for small suppliers to get more financing on better terms. Blockchain use cases of the blockchain applications emerging right now are effectively porting existing solutions onto the blockchain Uber for the blockchain, Airbnb for blockchain use cases blockchain, etc.

They reimagine how the new technology could transform the way the industry works in some fundamental way. Amazon was not just Walmart on the internet; it took advantage of the zero marginal cost of shelf space to offer a much wider selection than Walmart could ever stock in physical stores.

The killer applications will reimagine how the world works in a fundamental way. This would allow any business to place their existing assets like real estate, physical inventory, etc. If it works, this blockchain supply chain use case has the potential to disrupt a multi-trillion dollar industry and dramatically shift the corporate landscape.

Utility tokens are multi-billion dollar opportunity but tokenized securities are multi-trillion dollar opportunity. We are years, if not decades, away from this application being mainstream, but it is the sort of use case which I think shows the true potential of the technology. The Industrial Era started with a centralization of production. Fordism, mass manufacturing, and Taylorism all helped make centralized production more efficient. This centralization took the form of large factories where raw commodities were turned into finished goods.

Ford produced all their cars in a small number of factories which took in rubber and steel and spit out finished cars. After World War II, there was a second phase where corporations moved to centralize not just production but financialization. The third phase was the centralization of risk. The belief was that by using hedge fund thinking, it blockchain use cases possible to have zero risk because it was all hedged away.

They believed that if one part of their portfolio went down, another part would go up. At the dawn of the 21st century, these large corporations thought they had all the money with no risk.

The primary inefficiency in the industry is a blockchain use cases of the relatively high levels of centralization. The largest players e. This means that as you move closer to the players in blockchain use cases fringes of the supply network, the more strapped for cash they are.

However, the fringes are where the majority of the growth potential is and where that growth would make the biggest difference. The end result is that blockchain use cases the capital is sitting with Starbucks, which has a relatively low ability to grow blockchain use cases, whereas the small business farmer has high compounding potential but no access to capital.

According to economist Ronald Coase, as information gets better distributed, then the size of companies should come down and we should see a supply chain composed of smaller, nimbler companies that are better able to adapt. This has happened to some degree.

More and more companies are outsourcing parts of their supply chain using outsourcing firms or online freelance marketplaces like Upwork. However, the shift has been much slower than would be optimal for overall economic growth because larger companies are using their access to cheap capital to buy smaller companies and then making them less efficient. Capital has the upper hand because it is relatively scarce: In blockchain use cases supply chain, that money needs to go from the big companies to the medium-sized ones to the individual coffee farmer.

Blockchain technology creates the possibility of filling the gap between the amount of money blockchain use cases and the number of valuable assets using tokenization. This would give the smaller, high-growth players at the fringes of the network, like the coffee farmer, access to capital at a very affordable rate.

Historically, it was possible to take an asset you owned, like your house, to some entity that would issue a soft currency not backed blockchain use cases gold or some other hard asset.

This might have been a bank issuing their own script in the Middle Ages or the pharaoh a thousand years ago giving you a hieroglyphic tablet.

This is effectively what tokenization does. However, the major difference enabled by blockchain technology is that once your house is on the blockchain, and there are many decentralized nodes maintaining the ledger, then the bank that issued the script no longer needs to be trusted. You can then mint your own tokens on the blockchain using your house as collateral. You can then go trade those tokens for other tokens or fiat or another commodity that you think is a blockchain use cases use of that capital.

This same mechanism could be done for all asset-backed lending. However, if she could take out a loan on the blockchain against her existing farm, she could buy blockchain use cases new piece of equipment, increase her yield, and pay back the loan from her increased profits. This would enable commerce to happen without possession of fiat currency, which is scarce relative to the total value of assets.

The transparency of the blockchain would also remove a large amount of risk to capital blockchain use cases. The entity loaning money for blockchain use cases new piece of farm blockchain use cases can already see on the blockchain an order from Starbucks to buy the coffee so that they can lend blockchain use cases a much lower rate because of commensurately lower risk. Because the blockchain map so accurately blockchain use cases the real world territoryyou can more safely operate on the assumption that the two are the same, so capital providers need a much smaller risk premium to lend.

The ability to give low or no-interest rate asset-backed loans would significantly impact the structure of the global economy. It would allow small businesses in the developed world to become more competitive and create more jobs. Most significantly, it would allow the fringes of the supply chain network in developing countries to invest in their own businesses and pull themselves out of poverty.

As with all my writing, this article reflects my thinking process and not any definitive account. All thoughts, feedback, and criticism are welcome. I have no affiliation with Sweetbridge. For example, the centralization of production is based on the thesis that you can spend a ton of money building a factory because you blockchain use cases continue to get a blockchain use cases on your investment ROI for 40 years with minimal additional reinvestment.

The centralization of capital is based on the idea that you can identify obvious ways to deploy that capital, but those ways are changing faster, which makes it harder blockchain use cases a single individual or small group of individuals to accurately identify.

The centralization of risk is based on the belief that you can divide up the risk between other corporations blockchain use cases cancel each other out. Historically there was both soft and hard currency. The most common forms of hard currency were gold and blockchain use cases. Soft currency was what you would use day to day, like the farmer taking her crop to the pharaoh and getting a hieroglyphic tablet with a record of the transaction which could then be traded for shoes or a table or whatever she needed.

This system continued well into the Middle Ages. The soft currency provided the liquidity and the hard currency provided the fungibility and store of value. By the end blockchain use cases the 18th century, most major nations collapsed these into one currency backed by national governments and outlawed other soft currencies.

Prior to that, there were a lot of assets which were unvalued. A European Lord was granted land by the blockchain use cases for being a good soldier without ever buying it.

Or a homesteader in the US got land by just living there so he never had to have money to get the valued asset. Like them on Facebook here and blockchain use cases them down here: Published April 18, — April 18, — A brief history of supply chains The Blockchain use cases Era started with a centralization of production. The blockchain supply chain use case Historically, it was possible to take an asset you owned, like your blockchain use cases, to some entity that would issue a soft currency not backed by gold or some other hard asset.

Taylor Pearson April 18, —

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Financial services companies can use NEM for instant payments and transfers anywhere in the world. Just open the client and define the name, number of coins, divisibility, transferability and levy, and you are done. You can make transactions free with your new coin, or set transaction fees in any amount you wish. NEM is an excellent choice for mobile retail payments. NEM blocks complete every 60 seconds, making transactions confirm quickly enough for everyday use. Transaction fees are kept low enough to make even small purchases practical.

The equity market poses a very inefficient system when it comes to post-trade clearing, payment and settlement. Trade matching occurs at the rate of hundreds of transactions per second but clearing and settlement of stock takes more than two days to complete.

The equity market should consider a complete system revamp as the current systems and practice methods are based on legacy process practices that are outdated. The NEM blockchain technology is a suitable core component to re-design the equity market ecosystem which could save the industry billions of dollars a year in operational expenses. NEM can form the basis of escrow services. You can set up trustless accounts to manage transfers of currency, tokens, data, or any other assets.

You can also set a minimum number of digital signatures up to 32 required before a transfer executes. The network has set a permanently fixed amount of XEM, meaning there will never be inflation. Every transaction on the public blockchain requires a small transaction fee, ensuring demand for XEM coins over time.

Users also need XEM to pay for token creation, encrypted messaging and other features. This makes XEM a good liquid store of value. NEM makes it easy to create your own versions of payment apps. One example of such an app is NEMPay. NEMPay is an open source payment app that allows anyone to use the blockchain for peer to peer payments. All transactions and documents in NEM are permanently preserved and untamperable on the blockchain, allowing for complete transparency with finance, contracts, and other records.

This makes it easy for automation of accounting in real time. Whenever customer contacts or transactions occur, records are instantly updated on the blockchain with no need for human paperwork. This saves costs, reduces risk of loss, increases security, and makes your customer records permanently available.

Nearly every large retailer, hotel, credit card, grocery store, casino, beverage, and airline has a loyalty rewards points program. NEM brings security and speed to these systems, reducing fraud and mistakes, but it also allows the issuer to follow the trail of every reward point generated and perform analytics on which customers are most responsive to incentives.

It also allows large companies to coordinate points between different branches of the organization. Hitachi has already begun using Mijin, a custom version of NEM, for its PointInfinity rewards program, which has over 1. With current international shipping systems the paperwork of a typical shipping container has to pass through the hands of dozens of parties.

If one of those papers is incorrect, that container may sit in storage for a week or more. In cases of perishable goods this results in goods destroyed in transit. A blockchain solution makes the same documents accessible instantly and permanently to every party, with a complete custodial record and inspection certifications in one location. With this type of system, whenever a customer places an order new parts are automatically ordered to begin replacing that inventory. Manufacturing progress and shipment tracking are also part of the system.

Every action in the supply chain process is automatically generated and documented in real time, allowing savings and better performance in just-in-time delivery.

This ensures authenticity and privacy while maintaining security. Data storage and transmission on a public or private NEM network has never been hacked or compromised. NEM can instantly create a timestamped hash cryptographic signature of any document or file.

This is stored permanently on the blockchain so you can compare any future versions against it. This saves time, money, and removes the need for notaries. It also records ownership data and a timestamp to prove who recorded it and when.

With NEM, you can make your product unforgeable by putting a complete record of origin and chain of custody in the blockchain. NEM has partnered with Luxtag to create an app that makes this process simple.

Records can also include useful information about repairs and upgrades, something no certificate of authenticity can do. You can create your own certificates or use standardized ones for your industry. You can set them to be private or publicly accessible.

Corporations are required to keep records of compliance with laws and industry regulations. This includes things like employee harassment training, safety inspections, employee certifications, background checks, equipment maintenance, and accident reports.

Maintaining and auditing these records have high costs but losing them can expose the company to legal risks.. Many companies still keep paper records as backups for all these reasons. Strong encryption keeps sensitive data confidential. The NEM blockchain is ideal for tracking land and property ownership and rights. Whether you are an owner, leaseholder, government representative, mortgage holder, escrow service, or broker, you can access all registered information in one place, including a complete chain of custody, inspections, tax valuations, liens, environmental liabilities, and everything else needed for real estate transactions.

NEM is the first blockchain with built-in multisignature access. This makes it easy to control who has access to which data records or tokens and limit access to cryptocurrencies, tokens, and records tracked in the NEM blockchain. Multisignature accounts allow the creator to specify how many signatures out of a possible maximum are needed to access the account. This is called N of M signatures. NEM provides voting security on par with the best financial grade security software.

Privacy can be maintained with encryption, but a vote, once entered, is instantly counted and permanently auditable. These coins can represent any item, digital or tangible, including shares of the new company. Buyers can keep the tokens, trade them, or redeem them for currency or merchandise when the rewards become available. You can easily track who contributed, how much they gave, when they gave it, and what rewards they earned in a transparent distributed ledger.

Since the system is decentralized investors can feel safe that no single party can shut it down. NEM allows you to create a new crowdfunding platform, or use it as a back-end blockchain for an existing one.

Selling, trading, and managing private stock ownership and other financial securities on blockchains is the way of the future. NEM supports one-click creation of any number of stock types, such as those with special voting rights or custom vesting requirements.

Automation of stock tracking adds security, reduces errors, and saves time and legal fees. Multi-signature accounts make it impossible for a single party to steal or make mistakes. Stock purchases can be carried out instantly, and ownership certificates exchanged as securely as a cryptocurrency.

Other financial instruments such as annuities and futures contracts are also supported. ICOs are a popular new way to raise funds and gain wide distribution of new tokens or currencies. To hold an ICO a company creates coins that represent an item, share of the company, or some other future value. The company trades these coins for other cryptocurrencies directly with any party who wants to hold them. NEM allows the easy creation, distribution, and trading of coins and tokens, which are compatible with the wallets and other trading apps available in the NEM ecosystem.

I would like to receive regular news updates from NEM. Financial Payments Financial services companies can use NEM for instant payments and transfers anywhere in the world. XEM is also a great choice for online purchases. Equity Markets The equity market poses a very inefficient system when it comes to post-trade clearing, payment and settlement. Escrow Services NEM can form the basis of escrow services. Liquid Asset The network has set a permanently fixed amount of XEM, meaning there will never be inflation.

Automatic Accounting All transactions and documents in NEM are permanently preserved and untamperable on the blockchain, allowing for complete transparency with finance, contracts, and other records. Loyalty Reward Points Nearly every large retailer, hotel, credit card, grocery store, casino, beverage, and airline has a loyalty rewards points program. Anti-Counterfeiting With NEM, you can make your product unforgeable by putting a complete record of origin and chain of custody in the blockchain.

Corporate Compliance Corporations are required to keep records of compliance with laws and industry regulations. Access Control NEM is the first blockchain with built-in multisignature access. Voting NEM provides voting security on par with the best financial grade security software. Stock Ownership Selling, trading, and managing private stock ownership and other financial securities on blockchains is the way of the future.

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