UPGRADE. ENABLE. REPLACE.
DISRUPT: 4 WAYS BLOCKCHAIN WILL RESHAPE YOUR BUSINESSToday, transactions are managed by traditional Institutions and validated by a central authority. Each entity has its own centralized system and customers trust the current monetary system and institutions to manage money on their behalf
THE EVOLUTION OF BLOCKCHAIN
PUBLIC VS PRIVATE
Bitcoin, Ethereum, and other cryptocurrency-based blockchains are permissionless: anyone can run a node, join or leave a network, and access information freely. When consulting and technology companies became interested in blockchain, they began developing new solutions tailored to enterprise needs. The idea was to create blockchains that could serve specific purposes beyond managing cryptocurrency, allowing only authorized members to access the network (permissioned blockchains).
This distinction between public and private blockchains has attracted interest from financial institutions and other companies that were previously hesitant about the concepts associated with Bitcoin. Blockchain is an adaptive and innovative technology that has the potential to transform current systems and businesses. Its impact extends far beyond the banking and financial sectors, with applications spanning multiple industries and fields.
MEDIA ROYALTY ASSURANCE
The media industry has traditionally been highly intermediated: artists contracts from years ago often fail to reflect how music is consumed today, and royalty payments rely on airplay statistics collected by music labels and copyright databases managed by licensing bodies.
ENERGY, OIL AND GAS
Smart grids are the next generation of electrical grids, incorporating controls, computers, automation, and new technologies to better meet electric utility demands. This ecosystem includes smart meters, smart appliances, renewable energy resources, and advanced communication protocols.
ENERGY,OIL AND GAS
Smart grids represent the evolution of electrical grids, integrating controls, computers, automation, and new technologies to more effectively meet electric utility demands. This ecosystem includes smart meters, smart appliances, renewable energy sources, and advanced communication protocols.
RETAIL & SERVICES SUPPLY CHAIN TRACEABILITY
Supply chain tracking and authentication, as well as understanding food provenance and condition, are essential for identifying and addressing sources of contamination and unexpected incidents across the global supply chain. The primary challenge is establishing technology for every supply chain participant to collect and share data across the chain. For instance, innovative data entry tools on smartphones with cloud-based back-ends enable field workers to share relevant data, improving supply chain efficiency, identifying bottlenecks, and reducing waste.
PUBLIC & HEALTH
HEALTHCARE DATA MANAGEMENT
Blockchain can transparently track the provenance of goods as they pass between organizations, fostering trust and awareness
throughout the process with an unalterable record. When applied to the supply chain, product information is digitally tied to each
item and recorded on the blockchain at every step.
In healthcare, blockchain can also address common challenges in managing patients’ medication records,
which are often outdated or incomplete across different networks. This lack of visibility can lead to issues,
as providers may not have a complete picture of prescriptions. Additionally, electronic prescriptions must be directed to
specific pharmacies, while paper prescriptions risk duplication or loss.
FINANCE & INSURANCE
POLICY AUTOMATION
Insurance policies are contracts between an insurance company and the insured (policyholder), outlining conditions under which the policyholder receives financial coverage in specific events. Today, policies are created and managed through insurance companies’ proprietary platforms, involving detailed analysis of conditions and events to make payment decisions in the claims process. Smart contracts and oracles can enhance insurance policies by encoding policy logic within smart contracts and using oracles to provide trigger events from reliable information sources.