Blockchain Use Cases and Applications

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Blockchain brings transparency, governance, and security to the internet.

Here’s a list of use cases and applications for blockchain.

Smart contracts -- automates the execution of contracts online.

Replacing paper contracts, these code units automate the contract and maintain an online record of the transactions.

Cybersecurity -- secures the integrity of the data and systems.

Blockchain distributes the data across the network making it more secure from hackers.

Supply chain -- captures and stores the data from all participants in a supply chain.

Blockchain maintains the record of all transactions in a supply chain network giving everyone visibility on the system.

Cryptocurrency -- enables digital money.

Blockchain removes the gatekeepers and creates an online system for supporting digital currencies through online “trust”.

NFTs -- non-fungible tokens are unique digital assets.

Blockchain enables the creation, storage, and transfer of digital assets online.

Blockchain applications benefit from the online nature of the system in which manual steps, gatekeepers, and physical components such as paper contracts and physical coins and dollars are replaced with online equivalents.

Applications include healthcare such as electronic medical record keeping.

Governance such as voting for proposals and initiatives.

Identity such as replacing passports and driver's license for proof of identity.

Banking such as the use of digital currencies instead of physical ones.

Blockchain creates a new level of network connectivity enabling higher levels of connectivity and performance.

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