BLOCKCHAIN – the new Operating System for the Planet

With Reliance Industries announcing Jiocoin, India's biggest conglomerate, aims to develop a blockchain-based supply chain logistics platform along with its own cryptocurrency, the Jiocoin

 
BLOCKCHAIN – the new Operating System for the Planet

With Reliance Industries announcing Jiocoin, India’s biggest conglomerate, aims to develop a blockchain-based supply chain logistics platform along with its own cryptocurrency, the Jiocoin.

Innovative usage of Blockchain across many sectors, viz. healthcare, finance, government, legal, media and you name it, suggests that this technology is much more than Bitcoin. Assuming blockchain lives up to its promise to become a revolutionary concept, as it is being predicted, there are other amazing examples available as to how our daily world can change.

HEALTHCARE

MedRec: this project, conceived at the Massachuttes Institute of Technology, involved blockchain electronic medical records designed to manage authentication, confidentiality and data sharing. SimplyVitalHealth: comprises of two health related blockchain products what are under development – ConnectingCare that trakces the progress made by a patient post their visit to the hospital & HealthNexus that endeavors to provide decentralized blockchain patient records. Gem: is working with the Centre for Disease Control in the US to put disease outbreak data onto a blockchain that aims to increase the effectiveness of disaster relief and response time.

FINANCIAL SERVICES

Bank Hapoalim: collaboration between an Israeli bank and Microsoft envisages creating a blockchain system for managing bank guarantees. ABRA: is a Cyptocurrency wallet that uses Bitcoin blockchain to hold and track balances stored in different currencies. Barclays: has launched a variety of blockchain initiatives that involve monitoring financial transactions, its compliance and combating fraud. Augur: a blockchain based system that allows the creation of predictions on markets for the trading of derivatives and other financial instruments in a decentralize ecosystem. Aeternity: allows the creation of e-contracts that become active when the network consensus agrees that conditions to the contract have been met by the parties to the contract. This allows automated payments to be made when the signatories agree that the conditions have been met. Maersk: has evolved a blockchain based system for streamlining marin insurance for the transports and shipping industry.

BLOCKCHAIN – the new Operating System for the Planet
CYBERSECURITY

REMME: is a decentralized authentication system that allow replacing passwords and logins with SSL certificates stored on a blockchain. Guardtime: permits creation of “keyless” signature systems using blockchain – currently in use to secure the health records of a million Estonian citizens.

GOVERNMENT

Dubai: The government of Dubai has announced to become the world’s first blockchain powered state. A couple of years back, in 2016, representatives of 30 government departments formed a committee dedicated to investigating opportunities across health records, shipping, business registration and prevention of spread of conflict diamonds. Estonia: having partnered with Ericsson, the government initiative involved creating a new data centre to move public records on a blockchain. South Korea: government is being assisted by Samsung to create blockchain solutions that will be put to use in public safety and transport aplications. Govcoin: is an initiative of the UK Department of Work and Pensions, where they are considering using blockchain to record and administer benefit payments. Democracy.earth: an open sourcec project that aims to enable creation of not just democratically structured organizations but also states or nations using blockchain tools. Followmyvote.com: Facilitates the creation of secure, transparent voting systems, mitigating voter fraud and improving turnout through improved accessibility to democracy.

INDUSTRIAL

Provenance: aims at providingb blockchain-based provenance record of transparency within supply chains.

Hijro: will create a blockchain framework for collaborating on proof-of-concept and prototyping.

SKUChain: a blockchain system allowing tracking and tracing of goods as they pass through a supply chain.

Blockverify: a blockchain-based platform that focuses on anti-counterfeit measures, with initial use cases in the diamond, pharmaceuticals and luxury goods markets.

Transactivgrid: A business-led community project based in Brooklyn allowing members to locally produce and cell energy, with the goal of reducing costs involved in energy distribution.

STORJ.io: Distributed and encrypted cloud storage, which allows users to share unused hard drive space.

RETAIL

OpenBazaar aims to build a decentralized market where goods and services can be traded with no middlemen.

Loyyal: Universal loyalty framework that allows consumers to combine and trade loyalty rewards in new ways and retailers to offer more sophisticated loyalty packages.

Blockpoint.io: will allow retailers to build payment systems around block chain derived gift cards and loyalty schemes.

REAL ESTATE

Ubiquity: is creating a blockchain driven system for tracking complicated legal process which creates friction and expense in real estate transfer.

TRANSPORT and TOURISM

IBM Blockchain Solutions: IBM has announced that it will go public with a number of non-finance related blockchain initiatives with global partnets in 2018. This will allow an efficiency driven vehicle leasing industry.

Arcade City: aims to beat Uber at their own game, by moving ride sharing and car hiring onto the blockchain.

La’Zooz: a community owned platform that synchonizes empty seats with pasengers in need of a lift in real-time.

WebJet: an online travel portal that is developing a blockchain solution to efficient trading of empty hotel rooms among the mioddle men who are involved in filling last minute vacancies.

MEDIA

Kodak: the stocks of Kodak saw a big surge in the last so many years, after it announced its blockchain solution for trading IP rights and payments to photographers.

UjoMusic: will record and track royalties for musicians as well as allow them to create a record of ownership of their work.

The above projects, of which many may not really be succesful or accepted, however go on to indicate that blockchain is here to stay and is offering a vast potential across sectors.

  Source Courtesy: Forbes

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