10 Immediate Use Cases of Blockchain You Should Know

Do you really need Uber or Lyft to just become a mediator and tell you about someone’s trustworthiness for 25% of Every. Single. Ride?

What blockchain technology says is,

“Why stop at Uber?”

Why do we even need this particular company, which takes 25 percent from each ride and has a reputation for abusing its “God’s View” knowledge of passengers’ rides? How about a totally decentralized solution, such as the Tel Aviv–based, blockchain-powered ride-sharing application Commuterz? In that case no one owns the platform, which like Bitcoin is just based on an open-source software protocol that anyone can download. There’s no Commuterz, Inc. taking 25 percent. Instead, users own and trade a native digital currency system that incentivizes them to share rides to reduce traffic congestion and lower the cost of transportation for all.

The broad idea is that by deferring the management of trust to a decentralized network guided by a common protocol instead of relying upon a trusted intermediary, and by introducing new, digital forms of money, tokens, and assets, we can change the very nature of social organization. We can encourage new approaches to collaboration and cooperation that weren’t possible before, transforming a wide array of industries and organizational settings. Indeed, the breadth of blockchain’s potential is captured in the breadth of the ideas under consideration. Here is sampling of possible use cases, and it is by no means an exhaustive list:

Real Estate

Inviolable property registries, which people can use to prove that they own their houses, cars, or other assets;

Finance

Real-time, direct, bank-to-bank settlement of securities exchanges, which could unlock trillions of dollars in an interbank market that currently passes such transactions through dozens of specialized institutions in a process that takes two to seven days;

Identification

Self-sovereign identities, which don’t depend on a government or a company to assert a person’s ID;

Computing

Decentralized computing, which supplants the corporate business of cloud computing and Web hosting with the hard drives and processing power of ordinary users’ computers;

Internet of Things

Decentralized Internet of Things transactions, where devices can securely talk and transact with each other without the friction of an intermediary, making possible big advances in transportation and decentralized energy grids;

Supply chain

Blockchain-based supply chains, in which suppliers use a common data platform to share information about their business processes to greatly improve accountability, efficiency, and financing with the common purpose of producing a particular good.

Entertainment

Decentralized media and content, which would empower musicians and artists — and, in theory, anyone who posts information of value to the Net — to take charge of their digital content, knowing they can track and manage the use of this digital asset.

Voting

150 West Virginians voted via a blockchain-app. South Korea is testing E-Voting on the blockchain. Japanese city Tsukuba completed the test of a blockchain-based voting system for local development programs.

Patient Data

This can be revolutionary. A decentralised database for all your medical records. It would ease so many things when visiting hospitals.

Energy Market

Another compelling use case for blockchain technology is the role it can play to decentralise the energy market, which is typically controlled by a few large corporations in each market. Blockchain technology enables the smart metering of electricity generated through an individual’s solar panels to be recorded, traded and settled on a ledger. If electricity can be traded like any other commodity, energy prices instead of being a fixed regulated price

Those are the 10 Immediate use cases of blockchain that can be implemented today. If you are interested, we are building a EduTech Platform on Blockchain and are constantly looking for advisors and interested people to work with.

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