Blockchain Solutions Most in Demand Across Industries
In the second quarter of 2021, blockchain startups raised a record $4.38 billion — a 50% increase from the previous quarter and 9X from Q2 2020.
Blockchain technology is revolutionising business operations, and businesses are exploring solution-oriented applications that help solve specific problems. Startups that can create these pragmatic solutions have a lot to gain.
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Deep dive into the applications, usage and deployment process of blockchain
The Most In-Demand Blockchain Solutions Across Industries
Blockchains are decentralised databases on a network where transactions are linked in a chain or the ledger. These transactions are verified by each node on the network, making the process tamper-proof.
This means transactions on a blockchain are transparent, cannot be faked or altered and are always secure. Given these characteristics, this technology is seeing applications in a wide range of industries.
Blockchain in Finance
The primary niche application of blockchain was secure cryptocurrency transactions, and using the same principles blockchain applications in the financial industry have burgeoned. Most of these applications use distributed ledgers to link different data, and given the prominence of cryptocurrency, blockchain in finance will continue to grow.
A few of these applications include:
- Cryptocurrency investment advisor, example - Safetrading
- Hosting cryptocurrency exchange network, example - Bisq
- Cryptocurrency payments for vendors, example - Payment21
- Blockchain digital wallet, example - Trezor
- Global cryptocurrency remittances - Ripple
- Instantaneous peer-to-peer lending, example - Coindesk
- Crowdfunded crypto, example - Fundsurfer
- Cryptocurrency-based estate planning, example - MyWish
Blockchain in Healthcare
Healthcare data is sensitive and a prized target of hackers. The street value of one medical record exceeds $250 — the highest in the market. Blockchain excels at keeping data secure and private and won’t allow access without proper authorisation. It can also maintain who accessed which medical records and for what purpose. This can make a significant difference in healthcare and has the potential to make medicine safer and more accessible for everyone.
A few innovative blockchain applications in healthcare are:
- Track patient records across different healthcare institutes, example - Guardtime
- Verifying the authenticity of medications, example - Blockverify
Blockchain in HR
Blockchain is used in HR to track application history, monitor employee progress and make hiring more efficient.
Some applications include:
- Authenticating applicant credentials, example - EchoLink
- Matching certified freelancers to jobs, example - Telos
Blockchain in transportation
Because blockchain transactions always update all the users in real-time for every transaction, it is ideal for the fast-paced transportation industry. As travel and transportation are becoming more connected, blockchain is finding more uses, including:
- Managing hotel vacancy, example - Rezchain
- Blockchained parking spaces, example - Parkgene
- Blockchain wallet for self-driving cars, example - Car Wallet
- Filling P2P rideshare gaps, example - Arcade City
- Safer rideshare apps, example - Eva
Blockchain in Entertainment
The transparency and immediacy of blockchain has given consumers more control over what to watch or listen to.
- Blockchained pay-per-use, example uRaiden
As blockchain applications are growing quickly, businesses are looking to harness its security, transparency and reliability to drive business growth.
Blockchain in Finance
The primary niche application of blockchain was secure cryptocurrency transactions, and using the same principles blockchain applications in the financial industry have burgeoned. Most of these applications use distributed ledgers to link different data, and given the prominence of cryptocurrency, blockchain in finance will continue to grow.
A few of these applications include:
- Cryptocurrency investment advisor, example - Safetrading.
- Hosting cryptocurrency exchange network, example - Bisq.
- Cryptocurrency payments for vendors, example - Payment21.
- Blockchain digital wallet, example - Trezor.
- Global cryptocurrency remittances - Ripple.
- Instantaneous peer-to-peer lending, example - Coindesk.
- Crowdfunded crypto, example - Fundsurfer.
- Cryptocurrency-based estate planning, example - MyWish.
Blockchain in Healthcare
Healthcare data is sensitive and a prized target of hackers. The street value of one medical record exceeds $250 — the highest in the market. Blockchain excels at keeping data secure and private and won’t allow access without proper authorisation. It can also maintain who accessed which medical records and for what purpose. This can make a significant difference in healthcare and has the potential to make medicine safer and more accessible for everyone.
A few innovative blockchain applications in healthcare are:
- Tracking patient records across different healthcare institutes, example - Guardtime.
- Verifying the authenticity of medications, example - Blockverify.
Blockchain in HR
Blockchain is used in HR to track application history, monitor employee progress and make hiring more efficient.
Some applications include:
- Authenticating applicant credentials, example - EchoLink.
- Matching certified freelancers to jobs, example - Telos.
Blockchain in transportation
Because blockchain transactions always update all the users in real-time for every transaction, it is ideal for the fast-paced transportation industry. As travel and transportation are becoming more connected, blockchain is finding more uses, including:
- Managing hotel vacancy, example - Rezchain.
- Blockchained parking spaces, example - Parkgene.
- Blockchain wallet for self-driving cars, example - Car Wallet.
- Filling P2P rideshare gaps, example - Arcade City.
- Safer rideshare apps, example - Eva.
Blockchain in Entertainment
The transparency and immediacy of blockchain has given consumers more control over what to watch or listen to.
- Blockchained pay-per-use, example uRaiden
As blockchain applications are growing quickly, businesses are looking to harness its security, transparency and reliability to drive business growth.
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