The technology of Blockchain is going beyond bitcoin and Ethereum. Outside the world of cryptocurrency Blockchain is helping digital currencies reach far beyond their real potential. Many companies from food safety to real world energy trading projects everyone is using Blockchain to solve their industrial problems. Let’s take a look at five examples of Blockchain beyond crypto.
Walmart and IBM
These are food supply chain transparency industries. IBM and Walmart have collaborated in order to find a perfect traceable system for their food products. This system is based on Blockchain. As early trials passed the time that was required to trace the mangoes from production site to the shelf Reduced to several seconds from many days.
With the help of a QR code consumers can easily access every information about the origin of the product. The processing as well as the transportation also lies within the QR code. The food safety is enhanced and its efficiency as well as the supply runs solely on the trust.
Everledger
Luxury goods such as wine, artwork as well as diamonds are tracked with the help of Blockchain. Every item is recorded with the help of a unique digital print. Each print goes onto a very secure ledger. This ensures the authenticity as well as history of the ownership. Frauds and theft are really hard to happen in the global supply chain of luxury goods as well as Collectibles.
Estonia
A global leader of Blockchain when it comes to services of the government. Estonia is a small country in Europe that uses digital technology in smart ways. It is one of the first countries in the world to use blockchain for government services. People in Estonia can do many things online, like voting, paying taxes, or seeing their health records.
The country has a system that keeps personal and government information safe. When someone changes or checks a file, the system keeps a record of it. This makes it easy to know who did what and when. Because of this, it is hard for anyone to cheat or hide something.
Estonia also has a program called e-Residency. This lets people from other countries use Estonian online services. They can start a business in Estonia without living there.
Importance of these projects
The real life implementations of tell us that
● Blockchain can easily enhance the transparency in the supply of products as well as change.
● Digital transactions can happen with extreme security as well as trust as
● The contracts are automated which save time and reduce cost
● Individuals are empowered with the help of control when it comes to data and identity
● Decentralised markets are enabled for services and goods.
Conclusion
The technology of Blockchain is evolving outside the cryptocurrency world. It is helping the organisations to tackle the challenges regarding the transfer of goods and assets. Digital governance is present everywhere. From clean energy to food safety these projects tell us that the Blockchain gives true value when it is used within the real world across industries. Because it provides a secure , decentralised and transparent system.