Does a single source of information exist under “Moment of Truth”?
Today, business ecosystem networks are often inefficient because each party in the network keeps records of all transactions between all the network parties. This process is costly due to duplication of efforts and mediators adding costs for their services.
Blockchain allows any participant in the network to see the single system of record, or ledger. By using blockchain technology, businesses can benefit from a more efficient transfer of assets and services.
The blockchain network reduces the need for intermediaries and eliminates duplication of efforts, making it highly economical and efficient. Since it uses consensus models to validate information, it is less vulnerable and the transactions are secure, authenticated, and verifiable.
Banking and Financial Services
Speeds up funds, improves the efficiency of digital wallet services and reduces the cost of security and regulatory compliance.
Protects patient information and speeds up diagnosis, improves clinical support and securely store and shares health data.
Logistics and Supply Chain
Enables easy monitoring and tracking of goods, provides end-to-end visibility across the entire value chain and secures logistics processes.
Provides transparent election system, stores citizen and business data securely, and reduces opportunities for corruption and abuse.
Connects passengers with quality transport, facilitates up-gradation of smart cars with improved efficiency, and better management of peer-to-peer ridesharing apps.
Manages identities of insurers with smart contracts, increases transparency and promotes reinsurance processes.
Entertainment & Gaming
Streamlines entertainment channels, enables decentralized betting in online casinos and provides high-end technology for gaming.
Enables smart manufacturing by optimizing the speed and time of manufacturing and reducing manufacturing costs.
Blockchain’s impact on industries of future can build new levels of trust and accountability. It allows multi-party, multi-tier data management, permissibility, transactions and orchestration in a mediated, shared state. It drives the exchange of goods and/or services by following an underlying (contractual) agreement, the business rules that govern the execution of the said contractual agreement and the completion of the actual transaction.