Blockchain Entrepreneurship — Use Cases that will transform Industry 4.0
As we are well aware of the trending blockchain technology and its basis, today we will talk about its revolutionary and unprecedented applications. Blockchain tactics may seem uneasy and complicated to understand, the basic idea however is as effortless as a child’s play: decentralizing the storage of data so a central actor cannot own, authorize or corrupt the particular data.
BLOCKCHAIN APPLICATIONS
Blockchain is way too enormous than one could ever imagine. It has far more applications and uses beyond just cryptocurrency or bitcoin. Some of the uses of blockchain, we are going to discuss are the following.
Blockchain-Based Voting System
Paper-based voting systems have been replaced by electronic voting systems still, folks have doubts in their hearts regarding the capability of the voting system. Translucent and nationally confirmable elections in the country can be promised by the blockchain-based system. Mobile software is linked to a blockchain that can make voting easy and secure.
Peer To Peer Ridesharing
Mostly an agency or a middle man serves the radio cab services nowadays. Imagine a cab company like Uber closes business in the area? By moving ride sharing to the blockchain without a negotiator, drivers and riders both can get in touch directly. This can build a digital platform that will provide safe, trustworthy transportation.
International Payments
A secure and efficient way has been provided to create a foolproof log of delicate activity through blockchain. By making it perfect for the transfer of funds and international payments.
Exact Shipment Location Data
Logistics companies today; only offer location descriptions of major locations like stock centers, systemizing facilities, and city cores. Well, none of them tells the exact live location details. Implementing blockchain technology here could collect and deliver exact location details to customers.
A Fake Product Recognition System
Each brand has its fake copies nowadays, which are identical to the real ones that even a company expert couldn’t distinguish between real and fake ones. It can be used by embedding a 2D barcode on the product that is tied to a blockchain system and then scanning the barcode using your smartphone and it will tell whether the product is fake or real.
Transparent Charity Systems
Many fake charity platforms act as real and trustworthy organizations and steal money from people with the label of charity. Implementing blockchain here can create a trustable way for online charity programs.
Tracking Food to its Source
Everyone wants to have organic food but the real deal is whether the food you are consuming is organic or not? An outbreak of bird flu in many poultry farms is common these days. But, do you know the chicken breast you just grilled came from a farm where it had the virus outspread? Blockchain technology advantages the food industry here as it fabricates a direct, more open traceability on food items. One which cannot be changed. So it's possible for you to trace back food — no sweat.
Finding lost objects
The implementation can be widened to several more areas e.g. airlines to detect lost baggage, car rentals to track rented cars, and so on.
Blockchain- Established Product Identification
The era that we are living in now demands the safety of humanity and animals too. Animal lovers can not tolerate a brand that tests its products on animals or uses any of its owners in manufacturing. Blockchain technology here can ensure that the product is cruelty-free by setting up a scanning bar code on the product, which allows you to scan and know through your smartphone. It can also tell whether the product was halal or not.
These are only some of the uses of blockchain in different industries, but there are far more applications in each field and are coming with every passing day. Blockchain has phenomenally changed the very face of the technology industry forever. It’s for sure.
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