Blockchain Finds Application in Multiple Industries
Blockchain is a revolutionary technology which finds application in multiple industries, not just banking and fintech. What are the different applications making the headlines in the recent past? Let us take a look. When you have a decentralized currency, can decentralized marketplaces be far behind? Decentralized marketplaces directly connect buyers and sellers through a software, removing the middleman. The first version of OpenBazaar went live on 3 April 2016. The advantages of decentralized marketplaces are many – no government intervention, tight regulation on sellers or high....
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When Bitcoin first became popular, much mainstream coverage focused on its illicit uses. Then a revolution in thought led people to understand the less sinister benefits of Bitcoin, and namely its underlying technology, the blockchain. Many experts suppose blockchain could revolutionize numerous industries, with financial technology receiving most of the coverage in 2016, which some observers have dubbed “the year of the blockchain.” But, as 2016 rolls into 2017, focus on blockchain in industries outside of cryptocurrency, and finance, are emerging. Insurtech, according to Jupiter....
A recent article in International Business Times revealed just how committed IBM is to helping industries reinvent themselves using blockchain technology. Jerry Cuomo, IBM’s vice president of blockchain, favors a blockchain-enabled insurance plan for driverless cars. He also sees an opportunity to move supply chains to the blockchain. As for improving global supply chains, the change will even be more significant. Cuomo called such projects “moonshots.” IBM Leads Blockchain Activity IBM has led efforts to adopt blockchain technology to multiple industries with several newly-revealed....
Blockchain technology is largely associated with the financial sector, but distributed ledger applications have much to offer other industries as well. Deloitte University Press recently released a report titled, “Beyond bitcoin, blockchain is coming to disrupt your industry,” examining blockchain’s application in different industries. Industries besides the financial sector include: media, consumer products, industrial products, automobiles, travel, hospitality, retail, life sciences, healthcare, government, and energy. The report, authored by David Schatsky and Craig Muraskin, reviews....
Eris Industries has just announced a strategic collaboration with the hardware service Ledger as a security partner. The alliance is said to bring more solutions to the Eris infrastructure and bring a “strong layer of security” to the development of the company’s enterprise blockchain service. Eris Industries believes the partnership between Ledger and....
Indian multinational and conglomerate Mahindra will set up a blockchain incubator to support startups in the development of blockchain-based applications in a number of industries. As a conglomerate, Mahindra & Mahindra (M&M) has a foothold as a major automaker in India with exports of vehicles to multiple countries, a presence in finance, IT, finance, consulting and other industries. With its incubator, the aim is to develop blockchain solutions that can be across multiple companies in the Mahindra Group, according to a report in the Business Line. In quotes reported by the....