Best Blockchain Use Cases and Training.
Blockchain companies along with healthcare providers are currently researching to improve blockchain-based systems. This can benefit both patients and professionals.
One of the main problems faced in the healthcare industry is patient data management. The medical history of each patient is stored by individual health agencies. Therefore, it is impossible to ascertain a patient’s past history without consulting their previous provider. It can make mistakes due to lack of knowledge about the patient’s medical history.
Developed using the Ethereum blockchain, ‘Medrac’ is a great solution for patient data management. MedRec is a prototype for storing patient data and records electronically. It creates a decentralized content-management system and uses blockchain smart contracts. With MedRec, users can decide when and with whom they can share their data. Hence, they can grant to a guardian, family member or anyone to view their records. Hence, it provides privacy and ease in finding patient details from anywhere. As a result, we can reduce the number of deaths from medical mistakes.
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Blockchain use cases in banking:
Even in this 20th century, with automated cars and machines, we can find that international money transactions are slow. This is because most international payment systems have to go through multiple banks to reach the final destination. Unlike security benefits, money remains anonymous until it reaches the end user.
‘Nearlearn’ provided by Nearlearn is one of the blockchain applications that gives a frictionless experience of sending and receiving money globally. Nearlearn uses blockchain technology to create a decentralized system. It can settle transactions within seconds, even if it handles millions of transactions over and over again. The fee for transactions on Nearlearn is only 0.00001 XRP which is minimal instead of the large fee charged by banks for cross-border payments. Nearlearn is scalable, secure and operates with a variety of networks. Many banks and companies are using Nearlearn to increase transaction speed and reduce transaction costs. Therefore, Nearlearn could be the future of payment processing and global transactions.
Blockchain use cases in the retail industry:
According to IBM, retail organizations can prove their quality through blockchain technology. This is achieved through ascertaining the authenticity of the product, tracking and reliable delivery across the entire supply chain. Thus, blockchain changes the future of the retail industry.
‘Product Origin’: Provence is a blockchain-based application that provides end-to-end transparency in the origin source for products and ingredients. For example, isn’t it a good idea to ‘track the meat from farm to plate’? With Provence, enterprises can build a network of trust that will make it easier for consumers to choose a product.
Management of Loyalty Points: This is the era of reward points and coupons. Retailers can create blockchain-based digital wallets that centrally manage rewards, loyalty points and coupons. Therefore, customers can store all rewards and coupons in a single digital wallet instead of having to manage multiple events. This makes loyalty points more easily transferable between customers and retailers.
Fraud prevention: Retailers can use blockchain technology to avoid counterfeit goods reaching customers. To prevent the spread of conflict diamonds, ‘Everledger’ is using blockchain to track the origins of these luxury items.
