Possible Use Cases for Blockchain Technology

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Blockchain, the underlying technology that helped create cryptocurrencies like bitcoin, uses advanced cryptography to store information across computer networks. This technology could eliminate the need for trusted third parties such as banks, legal agreements and other contracts. Blockchain advocates believe that the technology has the power to completely change the global financial system, and even the Internet.

As the technology moves from being a fringe hacker creation to a legitimate business application, countless opportunities have started opening up to the industry.

Below is a comprehensive list of the things that we can use the blockchain technology for according to this article:

  • Device storage that could be used for bitcoin mining
  • Insurance bureaucracy
  • Electronic health record accessibility
  • Health record storage security
  • Health record portability
  • Marine insurance risk
  • Earning money on personal data
  • Pensions
  • The burden of car ownership
  • Better marketplaces for nautical shipping services
  • Better ways to advertise to your friends
  • Better ways to trade forexwith your friends
  • Ending Poverty
  • Complying with Know Your Customer laws
  • Complying with Anti-Money-Laundering laws
  • Complying with securities laws in token sales
  • Censorship
  • A use for QR codes
  • Tracing water supplies
  • Solving the shortage of emergency responders
  • Fixing the high cost of medical information
  • Improved digital identity authentication
  • Managing real estate workflow
  • International real estate purchases
  • Physical branches for crypto banking
  • Physical branches for crypto exchanges
  • Private equity
  • Venture capital
  • Efficiency and transparency at nonprofits
  • Incorporating local preferences in decentralized banking options
  • Boosting sales for local businesses
  • A digital-only investment bank
  • Containers to transport sensitive pharmaceuticals and food
  • Protecting consumer information on mobile
  • Helping mobile phone users monetize their data
  • Complexity and risk in the crypto market
  • Connecting “innovation players” and “knowledge holders”
  • Movie industry’s slow and opaque accounting practices
  • Cash flow problems at small and medium-sized businesses
  • Improving the use of data in the transportation and logistics industries
  • Transparency in the food supply chain
  • Fight Fake and False news
  • Settling payments faster
  • Speeding transactions
  • Financial inclusion for the unbanked and underbanked
  • The bidding process in art and collectibles markets
  • Assessing the value of collectibles
  • Diamond industry’s high banking and forex fees
  • The illicit diamond trade
  • Availability of digital games
  • Currency for eSports
  • Currency for eSports betting
  • Currency for sports betting
  • Storing scholarly articles
  • Health insurance providers billing processes
  • Currency for healthcare providers
  • Shortage of workers with advanced tech skills
  • Lack of diversity in tech
  • Elder care
  • Rights management for photographers
  • Content rights management
  • Simplifying the logo copyrighting process
  • Ticketing industry’s “prevalent issues”
  • Crowdsourcing for legal dispute resolution
  • Securing financial contracts
  • Paper
  • Automation
  • Control of personal data
  • Control of personal credit data
  • No way to spend crypto
  • Security for luxury watches
  • Authenticity in cannabis sales
  • Crypto rewards for cannabis-focused social media site
  • Crypto payments for rating cryptoassets
  • Crypto payments for taking surveys, watching videos and clicking links
  • Crypto rewards for video game skills
  • Crypto rewards for time spent playing video games
  • Buying, selling and trading your social media friends
  • Crypto rewards for social media sharing
  • Free mobile data for watching ads
  • Crypto rewards for watching entertainment content
  • Gold-backed cryptocurrency
  • Crypto-backed gold
  • Metals-backed cryptocurrency
  • Precious metals-based cryptocurrency
  • “Tokenizing” real world items
  • Financial infrastructure for trading within video games
  • Checking ID for purchases like alcohol
  • “Uber for alcohol” on blockchain
  • Inefficiencies in cargo delivery
  • Branded tokens for merchants to reward customers
  • Fraud and corruption among non-profits
  • Better transparency at non-profits
  • Better transparency around impact investing
  • Bitcoin mining uses too much energy
  • Home appliances mining for bitcoin while not in use
  • Bitcoin mining using hydropower
  • Large corporations’ carbon footprints
  • “Decarbonizing” electricity grids
  • Universal billing system for travel industry
  • DecentralizedUber and Lyft
  • Online gambling not fair
  • Online gambling sites take commission
  • Helping retailers hurt by Amazon
  • Online retail fraud
  • Streamlining interactions among shoppers, retailers and brands
  • Linking content across computers, tablets and phones
  • Ranking apps by their value
  • Aligning creativity and recognition for content creators
  • Improving payments for artists on Spotify and Pandora
  • Online piracy
  • A blockchain equivalent of Amazon, Groupon and Craigslist
  • Too many non-value-added costs
  • Unregulated prison economies
  • Standardizing the value of advertisements
  • Advertising not transparent enough
  • Free public information from silos
  • Speeding the rendering of animated movies
  • Selling items for crypto instead of regular money
  • Security sacrifices that come with innovation
  • Scams, fraud and counterfeits
  • Tools to build decentralized apps
  • Blockchain infrastructure
  • Removing barriers separating blockchains
  • Safety in buying and selling blockchain tokens
  • Improving privacy in online file storage
  • Improving privacy of blockchain
  • Decentralized database for decentralized technologies
  • Improving trust and confidence in blockchain system
  • More cohesive user experiences across blockchain and the cloud
  • Democratizing gold trading
  • Simplifying the cryptocurrency transaction process
  • Trading indexes as tokens
  • Improving crypto safekeeping solutions
  • Simplifying ICO investment, trading and cryptocurrency
  • Improving institutional-grade crypto asset management
  • “Painstakingly slow” manual crypto wallet process
  • Easier way to invest in real estate
  • Easier way to combine smart contracts with crowdfunded home loans
  • Easier way to borrow against crypto holdings
  • Identifying and verifying users in online dating
  • Improving traditional banking services for crypto world
  • Cryptocurrency based on Game Theory, IBM’s Watson, and other theories
  • Better social network + blockchain + AI + human touch
  • Improving content streaming on the blockchain
  • Supply chain transparency
  • Increasing public sector trustof cryptocurrencies
  • Education around blockchain technology

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