Blockchain in the Real World: Use Cases in Different Industries

BY
Chelle Louren
/
Jul 4, 2024

When we talk about blockchain technology, we almost always associate it with crypto, NFTs, gaming, and rare artwork. But the technology is also being used in many different industries from real estate to healthcare. Here are some examples of blockchain projects being used to solve real-world problems:

Healthcare

  • Secure storage and sharing of patient records to avoid data breaches and unauthorized access
  • Tracking the production and distribution of pharmaceuticals to prevent counterfeit drugs
  • Ensuring transparency of data used in clinical trials
  • Streamlining and automating medical billing and claims processing to reduce fraud and administrative costs.

Examples

Medicalchain manages electronic health records and lets patients grant access to their health data while ensuring data privacy and security.

Chronicled’s MediLedger Network prevents counterfeit drugs by letting users verify the authenticity of medications and verify the correct price of different medicines.

PharmaLedger, a consortium of pharmaceutical companies, fights counterfeit drugs in the supply chain.

MediBloc: MediBloc is a decentralized, patient-centered healthcare information ecosystem that protects patients’ rights to privacy of personal health information.

Real Estate

  • Direct, peer-to-peer property transactions, such as purchasing an apartment
  • Secure property title management to prevent fraud and reduce the risk of title disputes
  • Enforcing the terms of rental agreements via smart contract — for instance, payments can be automatically collected from the renter’s crypto wallet when rent is due. Devices powered by smart technology could physically revoke access to apartment utilities if payment is not made on the due date.
  • Fractional ownership via real estate NFTs that allow investors to own multiple tokenized shares of a single property, such as a mansion, farm, apartment complex, etc.

Examples

Propy enables digital property transfers and records title ownership on the blockchain. It aims to reduce fraud and streamline transactions in the real estate market.

RealT makes real estate investments more accessible by allowing users to invest in tokenized shares of real estate properties.

Government and Public Sector

  • Secure and transparent management of tax records and transactions.
  • Tamper-proof voting systems, streamlined voter registration and identity verification, and transparent vote counting
  • Verifiable records for election audits and recounts as well for tracking campaign finances and political donations
  • Secure management of public records, such as national I.D.s and birth certificates
  • Streamlined delivery of social services.
  • More transparency and accountability in public procurement processes.

Examples

Voatz: Voatz offers secure and transparent mobile voting via blockchain. All votes are kept in restricted-access, geographically-distributed servers secured by blockchain technology to keep the data tamper-proof.

Estonia’s e-Residency Program: Estonia designed the KSI blockchain to offer a secure digital identity for its e-residency program, allowing people from around the world to start and manage a business in Estonia online. Developed by the Estonia-based cybersecurity company Guardtime, KSI blockchain is also being used by the U.S. Department of Defense, North Atlantic Treaty Organization (NATO), and the European Space Agency.

Dubai’s Smart City Initiative: Dubai aims to become a blockchain-powered government by 2020. The initiative includes using blockchain for various government services like visa applications, bill payments, and license renewals.

Education

  • Storing and verifying educational credentials
  • Managing student records
  • Issuing digital certificates for student achievements
  • Streamlining course payments for better transparency
  • Protecting the intellectual property rights of educational content by providing proof of ownership and tracking how it is used

Examples

Blockcerts is used by educational institutions like the Massachusetts Institute of Technology to issue verifiable digital diplomas, credentials, and certificates

Other colleges and universities like Maryville are also using blockchain technology to make it easy for students to access, share, manage and verify their diplomas and transcripts

Agriculture

  • Tracking the journey of agricultural products from farm to table for more accountability
  • Pinpointing sources of contamination in case of a food safety issue
  • Verifying farming practices to ensure sustainable and ethical practices are followed
  • Automating transactions between farmers, suppliers, and buyers through smart contracts to reduce the risk of fraud and delays
  • Verifying certifications to ensure that products labeled “organic,” “cruelty-free,” fair-trade,” etc., are authentic 

Examples

AgriDigital, a leading Australian grain management software, offers efficient agricultural supply chain management, real-time tracking, and secure transactions to build trust between farmers, buyers, and logistics providers.

TE-FOOD is a blockchain-based food traceability solution that offers solutions for the entire food supply chain from farm to table

GrainChain ensures transparency and efficiency in the trading and transportation of agricultural products from preharvest to logistics, transactions, and inventory.

The IBM Food Trust uses blockchain technology to trace and ensure the safety of food products like chicken, eggs, and tomatoes from farm to store.

Energy and Environmental Conservation

  • Verifying sustainable forest and water resource management practices
  • Monitoring and protecting endangered species
  • Transparent reporting on the environmental impact of conservation projects
  • Enabling direct, peer-to-peer energy trading between energy producers and consumers within localized microgrids
  • Improving the efficiency of energy grid management
  • Tracking carbon offsetting projects and managing carbon credit trading
  • Tracking and verifying renewable energy certifications awarded to sustainable companies

Examples

Power Ledger: Power Ledger uses blockchain technology to enable peer-to-peer energy trading. It allows individuals and businesses to buy and sell excess renewable energy directly with each other to promote the use of clean energy.

Plastic Bank uses blockchain technology to incentivize the collection and recycling of plastic waste. Collectors receive digital tokens in exchange for turning in plastic waste.

Veridium Labs lets companies and individuals reduce their environmental impact through the transparent and efficient trading of carbon credits.

Power Ledger offers flexible, peer-to-peer energy and environmental commodity trading.

Earthbanc works with corporations and institutions to develop large-scale agroforestry, regenerative agriculture, and ecosystem restoration projects around the world.

Tourism and Hospitality

  • Managing bookings and reservations; avoiding double-booking or other booking errors
  • Identity verification for travelers without the need for physical documents
  • Managing reward-based loyalty programs
  • Authenticating customer reviews and ratings to eliminate fake reviews and increase customer trust

Examples

TUI Group, one of the world’s largest leisure, travel and tourism companies, uses blockchain to manage its inventory and distribution channels, ensuring real-time updates for its 20 million customers

Winding Tree is a decentralized platform that connects suppliers (like airlines and hotels) directly with customers, reducing costs and increasing transparency in travel bookings.

Transportation and Logistics

  • Real-time tracking of shipments to provide accurate and up-to-date information on the status and location of goods
  • Traceability in the supply chain from raw materials to end products
  • Managing documents like contracts, invoices, and customs declarations
  • Tracking the maintenance and usage of transportation assets such as trucks and containers

Examples

FedEx is exploring blockchain technology to improve the tracking and visibility of shipments, ensuring secure and transparent record-keeping for logistics data.

DHL tracks pharmaceuticals through blockchain to ensure the integrity and authenticity of medical products

UPS has joined the Blockchain in Transport Alliance (BiTA) to explore blockchain applications in logistics

Ecommerce

  • Fast, secure, and low cost payment processing without the need for third parties
  • Supply chain transparency throughout the product lifecycle from raw material to final product
  • Enforcing terms of agreements between buyers and sellers through smart contracts
  • Reducing errors and delays in inventory management through real-time tracking and verification of goods
  • Preventing the counterfeiting of luxury goods and collector’s items by providing a verifiable record of their authenticity

Examples

Alibaba and Amazon use blockchain technology to track and verify the authenticity of goods in the supply chain

Shopify and eBay are integrating blockchain technology for secure and transparent payment processing, fraud prevention, and supply chain management

Walmart and Nestle ensure the safety of food items and other products by tracking their origin and handling via blockchain

With Everledger, potential buyers can verify the origin and authenticity of luxury items

Electronics

  • Counterfeit prevention by verifying the authenticity of products and components
  • Managing warranty and service records
  • Incentivizing recycling and responsible disposal practices by tracking the full lifecycle of electronic devices
  • Transparent data sharing between telecommunications networks
  • Preventing fraud and mismanagement in service operations, billing, and customer service

Examples

Helium is a decentralized wireless network that uses blockchain to incentivize the creation of a global, low-cost wireless network. Users contribute by deploying hotspots to provide their area with wireless network coverage in exchange for cryptocurrency rewards.

HP uses blockchain to track the origin and authenticity of its printer cartridges, ensuring that customers receive genuine products.

IBM’s blockchain platform is used by multiple electronics companies such as Samsung and Lenovo to improve supply chain transparency and track the authenticity of electronic components.

Sony’s use case for blockchain technology lies in secure data sharing and management.

Qualcomm uses blockchain to track the supply chain of its semiconductor products

SK Telecom launched a blockchain-based ID and authentication service for user identity verification

Legal and Insurance

  • Enforcing legal agreements via smart contract
  • Securely recording and managing intellectual property rights
  • Storing and managing legal documents
  • Automating insurance claims processing to reduce fraud and mismanagement
  • Tamper-proof digital notarization of documents and agreements
  • Managing court records, evidence, and case files

Examples

OpenLaw automates the creation and execution of legal agreements. It’s used to create smart contracts that are legally binding and self-executing.

Integra Ledger is for managing legal documents and records while ensuring the integrity and authenticity of the data.

Etherisc aims to make insurance decentralized, fair, and accessible. It automates the claim process and reduces fraud. Product offers include flight delay insurance and crop insurance.

Philanthropy and Humanitarian Aid

  • Donation tracking for more transparency and accountability in the use of donated funds
  • Transparent reporting of the impact of donation drives, relief operations, and other humanitarian initiatives
  • Automated and secure aid distribution to beneficiaries by using smart contracts to disburse funds to wallet addresses with verified identities
  • Streamlining crowdfunding through blockchain-based platforms

Examples

BitGive Foundation: BitGive is a nonprofit organization that uses blockchain technology to offer a fast, secure, transparent, and affordable way to send relief funds and donations to recipients around the world. Its platform, GiveTrack, allows donors to track their contributions in real-time.

The World Food Programme uses blockchain technology for its Building Blocks project, which addresses the lack of efficiency and transparency of cash-based transfers to refugees and ensures that aid reaches the intended recipients.

Alice tracks the impact of charitable donations and lets donors see the direct impact of their contributions.

These are just a few of the many, many ways blockchain technology is being used to improve lives around the globe. Beyond crypto investments and new ways of sharing digital art, the potential of real-world asset tokenization, automated transactions, decentralized governance, and other benefits this technology brings is gradually revolutionizing sectors like healthcare, logistics, agriculture, and real estate—and hopefully, even more industries in the future.

Image Credits: Pixabay and Pexels

Chelle Louren
Web3 writer

Chelle is a freelance writer exploring where emerging tech and real world problems converge. Everything is a story, and she’s here to show that.

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