The recent CasperLab survey unveils that despite technology awareness gaps, Blockchain adoption among enterprises in the US, UK, and China is set to increase in 2023. The reasons behind the growth are the core characteristics of Blockchain, such as decentralization, automation, transparency, and immutability that are enterprise-friendly and believed to benefit various industries in several ways.
Whether it is healthcare or education, each industry is adapting itself to the Blockchain for next-level growth. This blog post covers how Enterprise Blockchain Solutions can transform your business and some real-world examples setting an example of perfect innovation in different sectors.
Several companies realize the power of transformative Blockchain technology and experiment with it for tangible outcomes. The following companies introduced Blockchain-powered solutions in the market and set the perfect example of innovation.
Real-world example: MedRec
MedRec was developed by researchers from MIT (Massachusetts Institute of Technology) Media Lab and Beth Israel Deaconess Medical Center. It is a Blockchain-based system developed for managing and sharing Electronic Health Records (EHRs) securely. The solution was created in response to the challenges and shortcomings of traditional electronic healthcare records systems.
MedRec contributes to one of the most popular Blockchain use cases in healthcare, i.e., patient data management. This Blockchain-enabled system stores the patient’s information in one place and provides a transparent and accessible view of medical history to patients.
Real-world example: Walmart
Founded by Sam Walton and James Walton in 1962, Walmart is a renowned American Multinational Retail Corporation that has collaborated with IBM to improve the transparency and traceability of its food supply chain. After the collaboration with IBM, the traceability system based on the Hyperledger Fabric was developed that enabled Walmart to trace mangoes stored in its US stores within 2.2 seconds. This innovation is able to identify the source of contamination and hence, improve food safety and quality. Suppliers associated with Walmart are able to record every step throughout the supply chain journey of mangoes, ranging from farm practice to transportation.
Real-world example: Blockcerts
Learning Machine (presently a part of Hyland) teamed up with MIT Media Lab to build an innovative solution, Blockcerts. It’s an open-standard platform founded in 2016 that is used to create, issue, and verify Blockchain-based certificates. It reviews the credibility of documents and detects falsified information by creating records like academic transcripts and credentials on a Blockchain. Such enterprise Blockchain solutions allow storing academic achievements, such as grades, diplomas, and even transcripts for immutable insight into past academic performance.
Real-world example: Propy Inc.
Propy is a global real estate marketplace that allows investors or property seekers to buy and sell homes on Web3 technology. The platform uses the transformative power of Blockchain technology and smart contracts that automate the real estate sales processes and at the same time, provide protection against frauds. In addition to that, Propy also offers homes to be purchased or sold using cryptocurrencies or as an NFT. The company works with a mission to make the whole process of buying and selling homes faster, easier, and more secure with the use of Blockchain technology.
Real-world example: JP Morgan Chase
JP Morgan & Chase Co. is one of the leading financial institutions that has been actively exploring Blockchain applications in order to transform the way money, information, and assets move around the world. JP Morgan also launched its Blockchain-based platform, Onyx in 2020, which plays a crucial role in improving the quality of payment transactions. The company has also been involved in a number of Blockchain initiatives, including tokenized assets and cross-border payments.
Real-world example: Toucan
Toucan is one of the startups warming up to the idea of using Blockchain to improve the carbon credit market. The company uses Blockchain to issue carbon credits for forest conservation projects in Latin America. Such enterprise Blockchain solutions enable users to track the impact of their carbon offset purchases and verify the authenticity of carbon credits. It guards against the same credit being issued to more than one company. In simple words, this startup is streamlining the messy carbon credit market by utilizing the Blockchain smartly.
Real-world example: Audius
Audius is a decentralized music streaming platform that aims to provide a more equitable ecosystem for artists and listeners. Built on Blockchain technology, Audius eliminates intermediaries and allows artists to have direct control over their music distribution and monetization, while fans can support artists more directly through cryptocurrency payments. Such enterprise Blockchain solutions are loaded with a number of features that meet the needs of distinct music artists around the world and add more value to the music experience.
Real-world example: UPS
Founded in 1907, UPS is an American multinational logistics company that joined hands with Inxeption to build a Blockchain-based platform called Inxeption Zippy. This innovative Blockchain solution protects and streamlines the supply chain process for B2B transactions, providing end-to-end visibility and traceability of products. Inxeption Zippy allows businesses to manage their supply chain with maximum efficiency and enjoy several benefits such as improved inventory management, reduced costs, and faster order fulfillment.
The following are some factors that drive the growth of enterprise Blockchain development.
While crypto markets remain volatile, Enterprise Blockchain solutions adoption continues to grow at a rapid pace as businesses find new use cases for the technology. Several market players across different industries are realizing the power of Blockchain and its positive impact after implementation. This blog post has highlighted distinct enterprise Blockchain solutions developed in various industries.
If you also want to leverage Blockchain in your business, connect with Antier – a leading Enterprise Blockchain Development Company. Our company utilizes Blockchain technology to build an innovative solution for your business. Backed by an expert development team, Antier can help drive business growth with a robust Blockchain-powered solution. Schedule your call with our team today!
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