Babbitt column | Bank is just the beginning: blockchain will transform these 55 industries

Translator: Liu Bin Director of the Financial Research Office of the China (Shanghai) Free Trade Zone Research Institute (Pudong Reform Institute)

Cooperative translator: Zhao Yunde

Banking and payment services are not the only areas where blockchain changes. Laws, shared car rentals and many other industries will see the application of blockchain technology in the future.

Bitcoin and other virtual currencies have become possible, driven by blockchain technology. The blockchain is fundamentally a global public ledger that automatically records and validates large-scale digital trading activities, regardless of where the transaction takes place.

The popularity of Bitcoin proves that blockchain has a strong application in the financial sector, but entrepreneurs believe that blockchain can subvert many other industries. In the end, the blockchain will be very rich in trading data—especially the blockchain can be applied to the decentralized platform without the need for centralized agency supervision, and there will be no fraud.

Entrepreneur companies use blockchains to ensure the transparency and authenticity of digital information ecosystems, and they are pushing the application of blockchain technology across industries, from payments to public policy. The following are ways in which companies around the world can innovatively use blockchain technology.

1.   banking

The banking industry is only the beginning. From a macro perspective, banks are a storage and transfer hub for value on a global scale. As a digital, secure and non-tamperable distributed ledger technology, blockchain can assume the same functions, bringing accuracy and information sharing to the financial ecosystem.

Both UBS and Bank of England Barclays are testing blockchain technology to accelerate back-office operations and settlement functions, which are said to save the banking industry nearly $20 billion in intermediate costs.

Banks have begun to increase investment in blockchain startups such as R3CEV, which is working with more than 80 banks, regulators and technology partners around the world to develop its blockchain platform, Corda, with the goal of becoming a “new” financial market. operating system".

2.   Communication application

The encrypted communication application Telegram is popular among cryptocurrency proponents, and it is raising funds for the blockchain platform development through ICO. This decentralized communications platform is clearly a threat to Slack, as it plans to raise the largest ICO in history, totaling nearly $1.2 billion, with nearly 170 million users in its ecosystem. Some well-known investment institutions are also said to have participated in their ICO, including Benchmark, Sequoia Capital, and Kleiner Perkins Caufield & Byers.

Similarly, the chat platform Kik has completed the ICO for the tokens in its app. There is also Line, the most popular communication service application in Japan, and it is also reported to enter the field of cryptocurrency transactions.

3.   Hedge Fund

With the support of FirstRound Capital and UnionSquare Ventures, Numerai is decentralizing hedge funds by hiring a group of traders and wide customers. Numerai sends tens of thousands of encrypted data sets to wide customers (quantitative analysts) scattered around the world, and allows them to develop predictive models, and develop the most accurate predictive models for wide customers who will receive Numerai's own token Numeraire as a reward. . Then Numerai uses his strategy to trade. In some form, Numerai is similar to the Quantopian model, but with less competition and more implicit cooperation.

  4.   vote

The election needs to verify the authenticity of the voter's identity, as well as a secure record to track the voter, and a credible report to determine the winner. In the future, blockchain technology can be the infrastructure for voting, tracking and counting – there will be no fraud in the voting process.

Think of voting as a trading activity on the blockchain. Governments and voters can have a verifiable audit trail to ensure that votes are not tampered with or removed, and no illegal votes are counted. Follow My Vote, a blockchain voting startup that has released its blockchain voting solution.

5.   Internet identity and DNS (Domain Name System)

In today's networks, it's hard to establish your true identity, and personal information is placed on the company's servers, and it's hard to get in touch with the external network. Platforms like Blockstack and uPort believe that your identity data can be easily placed on the Internet in the future. At Blockstack, for example, users can use the app to enter a decentralized network, making it easy to get their personally identifiable data.

  6.   Important infrastructure security

The current Internet architecture is vulnerable to hackers, especially IoT devices. As more and more infrastructures, such as power plants and transportation facilities, are equipped with networked sensors, the risk of cyber attacks on civilian facilities is very high. Companies like Xage are using blockchain tamper-proof books to share secure data between industrial device networks.

Although the blockchain's books are public, their data communications are sent and verified using advanced encryption techniques—this ensures that the data comes from the right party and is not intercepted in the middle of the data transfer. Thus, if the blockchain is more widely accepted, the likelihood of hacking will decrease, as blockchain technology is more effective than traditional systems in terms of network protection.

Other potential applications include the use of blockchains for large-scale data validation. For example, using blockchain-based KSI (keyless signature infrastructure), cyber security startup Guardtime labels and validates data transactions.

7.   Shared car rental

Shared car rental apps like Uber and Lyft represent the opposite of decentralization because they exist as mission distribution hubs, using algorithms to control driver activity. Blockchain can bring new changes in this area: With distributed ledgers, drivers and taxi passengers can form a user-driven, value-oriented market platform.

For example, the startup ArcadeCity is completing all transactions through the blockchain system. ArcadeCity is similar to other shared car rental companies, but allows drivers to set their own prices, and the blockchain can record all relevant data.

This makes ArcadeCity attractive to professional drivers who are more willing to build their own transportation business than being controlled by large companies: drivers on the ArcadeCity platform are free to set prices and build their own customer base. , providing other additional services like sending express or roadside assistance.

8.   Internet advertising

We all know that Internet advertising is very large. In general, ads load a large amount of mobile data onto web pages, and advertisers and consumers encounter problems due to lack of agreement. Recently, Brave's ICO's Basic AttentionToken (BAT) can compensate advertisers and users. Instead of an intermediary like Google or Facebook, advertisers can connect directly to Brave's blockchain browser. Users who don't want to receive too many ads receive more targeted ads and no malware is loaded. Advertisers can also get valid data about user spending.

9.   Cryptographic exchange

Blockchain can reduce cybersecurity risks, one way is to reduce human involvement—thus reducing the risk of hacking, malfeasance or other human error. Ironically, some of the most successful companies in the blockchain are centralized, and many new projects are test exchanges that place tokens on the blockchain (not completely decentralized). ).

A well-known project in this field is Enigma, which claims to be supported by MIT and FlybridgeCapital. Another well-known decentralized exchange is based on the ox of Ethereum.

10.   Education and academics

In essence, academic credentials must be widely recognized and validated. In major colleges and universities, proof of proof is still manually operated (a large number of instruments and one-by-one check).

The use of blockchain solutions in education can simplify verification procedures – thereby reducing academic fraud.

SonyGlobalEducation has partnered with IBM to develop a new educational platform that uses the blockchain to securely share student records. Another software startup, Learning Machine, which has been in business for more than 10 years, has partnered with MIT Media Lab to launch the Blockerts toolkit for the block. The academic qualifications on the chain provide the infrastructure.

11.   Car rental and sales

The experience of renting a car, buying a car or selling a car is very bad, because the whole process of the transaction is very fragmented, but the blockchain can change it all. In 2015, Visa teamed up with transaction management startup DocuSign to validate the project and use blockchain to streamline the car rental process—simplifying the process to “click, sign, drive”.

With the Visa-DocuSign tool, future customers can choose which car they want to rent, and then the entire transaction will be recorded on the public ledger of the blockchain. The driver can then sign a rental agreement and insurance at the seat, which will be updated on the blockchain. If blockchain technology can be applied, then we can imagine that a similar process can be used for car sales and registration.

12.   Industrial Internet of Things and multi-hop networks

IBM and Samsung are working together to develop a conceptual project, ADEPT, which uses a blockchain-like technology to build the foundation of a decentralized network of IoT devices. With ADEPT (decentralized, autonomously operating point-to-point telemetry), blockchains can become public accounts for a large number of devices, eliminating the need for centralized hubs to coordinate communication between devices.

Without a centralized control system, devices can communicate with each other autonomously, manage software updates, vulnerabilities, or conduct energy management.

Some startups are trying to develop IoT platforms using blockchain technology. For example, Filament provides a decentralized network for IoT sensors to communicate with each other. By encrypting at the hardware level and using blockchain technology, Filament's decentralized network, any device access, interaction and transaction, does not require a centralized organization.

  13.   Cloud storage

Enterprises that provide cloud storage services are able to secure customer data through centralized servers, which means they are vulnerable to cyber attacks from hackers. Blockchain cloud storage solutions can decentralize storage—so they are less vulnerable to attacks that cause system crashes and widespread data breaches.

Known as "Airbnb in the storage space", Filecoin is a well-known project that rewards users who store files with tokens. This can create a decentralized AWS. The company behind the company is Protocol Labs, which has received investments from large institutions such as Union Square Ventures, Naval Ravikant, and TheWinklevosses. But Filecoin is just one of many projects in this space. Other similar cloud storage projects include Storj and Siacoin.

Storj is a blockchain cloud storage network that is being tested to improve the security of cloud information and reduce the transaction cost of cloud information. Storj users can also lease their unused data storage space to others through peer-to-peer, creating a whole new market for crowdsourcing cloud storage.

14.   cloud computing

Blockchain-based projects like Golem allow users to rent their CPU power and get token rewards. Similarly, Ethereum itself is also known as the “world supercomputer” because Ethereum is able to execute smart contracts and its mining cannot use ASIC-type miners (so that PC users can compete with large mines every day).

15.   prediction

As more and more industries embrace blockchain technology, research, analysis, consulting and forecasting industries will also be transformed by blockchain technology: with accurate transaction records that support data analysis, predicting the industry's development base will be more solid Using machine learning algorithms will drive targeted predictions and get the appropriate analysis.

Now, the blockchain is creating a new “predictive market”. Augur, built on the Ethereum blockchain, allows users to predict events and get rewards through accurate forecasts. The service is still in beta, but the company claims that the entire process will be decentralized, allowing users to bet not only on sports events and stocks, but also on other elections and natural disasters.

16.   Music/Entertainment Copyright and IP

Entrepreneurs in the entertainment sector are using blockchain technology to make content distribution more fair, and content creators can use smart contracts, and the revenue generated by their work can be automatically distributed to the original authors according to a pre-defined licensing agreement.

The original purpose of Mycelia was to create "smart songs" using blockchain technology and crypto tokens. Ascribe.io, the BigchainDB product, is also used to provide a traceable, verifiable record of ownership for works created by artists.

JAAK, a UK blockchain startup, also plans to work with music copyright owners and other entertainment industry stakeholders. JAAK, which provides an operating system for content companies, is developing a platform that allows media creators to store their work, data and rights and convert them into "smart content" that can perform authorized transaction activities on the Ethereum blockchain. .

17.   Stock trading

Over the years, many companies have been working to simplify the process of buying, selling, and trading stocks, and blockchain startups are now automating this process and ensuring it is safer and more efficient than past solutions.

For example, Overstock's subsidiary TØ.com hopes to use blockchain technology to facilitate online stock trading. Its “t zero” platform combines distributed ledger technology with current transaction processes to reduce billing time and costs, increasing transparency and reliability.

Working with existing trading networks and exchanges will help blockchain technology to be applied quickly. Chainchain startup Chain is the leader in this area: the company successfully integrated blockchain technology with the NASDAQ Stock Exchange and Citigroup's banking infrastructure.

18.   real estate

The pain points of buying and selling real estate include lack of transparency during the trading process and after the transaction, the need to submit cumbersome documents, possible fraud, and record errors. Blockchain can reduce paper recording and speed up the transaction process—helping transaction-related entities improve efficiency and reduce transaction costs for all parties to the transaction.

Real estate blockchain applications can help record, trace and transfer property ownership, land leases, mortgages, etc., and help ensure that all documents are accurate and verifiable. Ubitquity, a technology-based startup, provides a SaaS (software as a service) blockchain platform for finance companies and mortgage companies. The company is currently working with the Brazilian Lands Bureau, as well as other inconvenient customers to record real estate information and record files through the blockchain.

19.   Insurance

Companies like AirBnB, Tujia, and Wimdu offer people a way to trade assets in the short term—including private homes—for financial gain. But the problem is that in the absence of public records, it is almost impossible to provide insurance for these assets on these platforms.

Blockchain startup Stratumn can help developers develop block-chain-based, trusted applications, and professional consulting firm Deloitte and payment service provider Lemonway partnered with the company to launch a solution based on blockchain technology—LenderBot.

LenderBot is a small-insurance concept test project in a shared economy model that validates the application and service potential of blockchains in this area. LenderBot allows people to get customized small micro-insurance products by chatting with Facebook Messenger, a third-party link between individuals who exchange high-value items in a shared economy model.

20.   Health care

Medical institutions cannot share data across platforms. Better data collaboration between platforms ultimately means higher diagnostic accuracy, higher likelihood of effective treatment, and lower operating costs across the entire healthcare system.

The use of blockchains allows hospitals, payment agencies, and other entities in the healthcare value chain to access the network without impacting data security and integrity.

To this end, the startup Gem has launched the Gem Health Network, a blockchain network developed for companies in the global medical field (Gem uses a framework based on Ethereum blockchain technology to create a secure, broad data sharing foundation. facility). Tierion is another blockchain startup that builds a data storage and verification platform for the medical sector; Gem and Tierion recently partnered with Philips Healthcare to build the Philips Blockchain Lab.

twenty one.   Supply Chain Management

One aspect of the most widespread use of blockchains is because they enable secure and transparent monitoring of transactions. The supply chain is basically a series of trading nodes that involve product transfer from point A to the point of sale or final application.

With blockchains, as products move from manufacturing to sales in the supply chain, the transaction process can be recorded on permanent decentralized records—reducing time delays, reducing costs and manual errors.

Several blockchain startups have already innovated in this area: Provenance is developing traceability systems for materials and products that enable consumers to get information about the entire supply chain from supply after the product is sold.

Other companies include Hijro, which develops alternative platforms that can serve companies that provide loans to global supply chains, as well as Skuchain, which develops blockchain-based products for trade and supply chain financial markets between companies.

twenty two.   Energy management

Energy management is another industry that has been highly centralized in history. In the United States and the United Kingdom, energy trading must first be done through well-known power companies like Duke Energy or National Grid, or with intermediaries who buy energy from large power companies.

As in other industries, distributed ledgers reduce (or even eliminate) the need for intermediaries. Start-ups like Transcative Grid, a joint venture between L03 Energy and Brooklyn's Ethereum company Consensys, are rethinking the traditional energy trading process.

TransactiveGrid uses Ethereum blockchain technology to enable customers to trade in “decentralized energy projects” that efficiently generate energy, buy and sell energy. L03Energy also has many other projects like the Brooklyn Microgrid and the Exergy project, which is a concept test project that uses excess heat from a computer.

twenty three.   Sports management

Investing in athletes is generally the business of sports management institutions and enterprises, but the blockchain can decentralize the process of investing in sports athletes, so that each supporter can have financial interests with the future of sports stars, from sports. A certain percentage of the compensation is earned from the star’s income.

The concept of investing in athletes through the blockchain (and getting a return) has not been explored on a large scale. But at least one agency, The Jetcoin Institute, has used its virtual tokens to promote the concept of star fans—in this case, fans invest in their favorite athletes through “Jetcoins” and then from the future of athletes. Get a small portion of your income (as well as VIP activities, seat upgrades, etc.). Jetcoin has teamed up with the Italian Hellas Verona football team to test this mode of operation.

twenty four.   Gift card and customer loyalty program

Blockchain can help retailers provide gift cards and user loyalty programs, making their systems cheaper and safer. Only fewer middlemen are needed to handle the issuance and sale of gift cards, and the process of obtaining and using gift cards based on blockchain technology is more efficient and less expensive.

Similarly, the unique ability to verify fraud through blockchain can increase the level of fraud prevention, which also reduces costs and helps prevent unauthorized users from stealing other accounts.

FirstData, which owns the Internet platform for the purchase, distribution and recycling of gift cards, has partnered with blockchain infrastructure provider Chain to run gift card business on the blockchain for thousands of small businesses. The new project name is GyftBlock.

Another startup, Loyyal, is also using blockchain to support and validate the value of individual projects, and to innovatively drive user loyalty incentives to trade more easily across industries.

25.   Government and public files

The management of public services is another area where blockchain can help reduce paperwork processes while reducing fraud and increasing accountability between authorities and their clients. Some US state governments have realized the benefits of the blockchain: the Delaware Blockchain Initiative, launched in 2016, aims to create a suitable legal infrastructure for equity on distributed ledgers and improve company registration The efficiency of the company's registration process.

Similar plans have been announced in Illinois, Vermont, and other states. Startups are also working on these aspects: In Eastern Europe, the BitFury Group is currently working with the Georgian government to ensure the security of government files and to trace government files.

26.   Gun trace

Distributed ledgers for blockchain technology can provide multiple solutions for gun management and use. If gun ownership information is registered on the blockchain, it is possible to track the sources of weapons involved in the illegal use of firearms and provide an interconnected infrastructure.

A startup called Blocksafe is developing a blockchain system for weapon tracking that allows gun owners to track where their guns are located and know if the lost guns have been used.

In the long run, there are also opportunities for cooperation between the public and private sectors around such information, such as linking the no-fly list information to blockchain transaction records, which can more effectively prevent illegal gun purchases.

27.   Wills and inheritance

The will is a very specific contract that provides an ideal application scenario for blockchain smart contracts. In addition to verifying the real death of the deceased, probate-related litigation often involves people's doubts about the “authenticity” of the will—that is, whether the law's interpretation of the will is consistent with the intention of the deceased.

Although the application blockchain does not completely eliminate these difficulties, it also makes it easier to verify actual information, provide verifiable transaction data, and ignore negligible litigation.

Through its blockchain program, Blockchain Technologies Corp. is using blockchain technology to develop a self-executing will system that automatically checks the “death record” of government agencies to verify that someone has died. Then, the deceased will automatically assign the property to the beneficiary through the program-set will, without the intervention of the executor and the court, and there will be no disputes.

28.   retail

At present, consumers trust the retail system mainly because they trust the e-commerce platform. (For example, Amazon can get consumers' favor, trust is the key factor.) Blockchain can achieve decentralization of trust, making people trust sellers on various platforms, not the website itself.

Startups like OpenBazaar are developing decentralized blockchain facilities that connect buyers and sellers without the need for intermediaries and related fees. OpenBazaar is an open source peer-to-peer network that does not charge merchants and has no restrictions on the items that merchants sell. Customers can purchase goods using 50 virtual tokens, and sellers can get bitcoin as a payment—all relevant data is distributed across the global network rather than being stored in a centralized database.

29.   charitable

For charitable donations, the blockchain allows people to accurately track the flow of their donations, when the donations arrive, and who they ultimately donate. As a result, the blockchain can solve the long-standing problems of low transparency and unclear accountability in the charitable donation process.

Bitcoin-based charitable donations like BitGiveFoundation use a blockchain, a secure and transparent distributed ledger that allows donors to have a clearer understanding of the receipt and use of donations. The company has launched a test version of GiveTrack, a multi-dimensional donation platform based on blockchain technology that provides transfers, tracking services, and provides permanent charity financial transactions worldwide. By using GiveTrack, charities can increase donor trust.

30.   law enforcement

In the police investigation process, ensuring the integrity of the evidence chain is of the utmost importance, so a distributed, non-tamperable record can make the entire evidence process more secure. In addition, the blockchain can also be used to identify certain types of trading patterns—the police are alerted when individuals participate in suspicious financial activities.

Entrepreneurship companies are constantly innovating to bring this benefit to law enforcement. Chronicled is developing a sealed, tamper-protected container with a near-field communication chip that records the contents of the container through a blockchain system—providing an ideal solution for evidence management in law enforcement.

At the same time, Elliptic is developing a system that can continuously scan Bitcoin registrations, discover complex associations between transactions, identify available transactions/history, and provide information on possible payments.

31.   Human Resources

Conducting a background review to confirm the job experience of job seekers is very time consuming and cumbersome for HR professionals. If work and criminal records are stored on blockchain books (without the possibility of any fraud), HR professionals can streamline the approval process and speed up the recruitment process.

Chronobank is one such blockchain startup with the goal of subverting the HR/recruitment industry with a focus on improving short-term recruitment efficiency (cleaning, warehousing, e-commerce, etc.) in a shared economy. The company's goal is to use blockchains to make it easier for individuals to find jobs, to be unemployed, and to get the corresponding labor rewards through virtual tokens in the decentralized network, without the need for traditional financial institutions to participate.

32.   Corporate and corporate governance

The benefits of using blockchains for smart contracts and verifying transactions can also make enterprise billing more transparent. For example, the Boardroom application provides a governance framework and applications that help companies manage smart contracts on the public chain and licensed Ethereum blockchain.

The application provides an administrative management system that enables companies to ensure that smart contracts are executed according to programmed rules set on the blockchain (or update the rules themselves). The board of directors can also allow shareholders to use the app to vote.

Aragon goes further, using the blockchain to “mediate the form and operation of the company and other organizational structures”. It believes that decentralized organizations can solve the world's worst problems, and Aragon is developing a range of tools to help companies use the blockchain to manage their global workforce. The company sees the blockchain as a tool for welcoming more employees and a tool to guide contractors from developing countries into the North American and European markets.

33.   Credit record

Lenders use small business credit reports to assess the credit history of small businesses, thereby minimizing the risk of loans or credit lines. These third-party reports—reporting publishers such as Dun & Bradstreet—will not reach out to small business owners. This will make the business owner feel that the credit bureau has great power over the loan terms, even if the credit bureau will evaluate outdated or inaccurate information to determine the content of the report.

Lumeno.us is one of the startups that uses blockchain technology to make corporate credit reporting more accurate, transparent, and shareable. Lumeno.us standardizes semi-structured financial data using proprietary collaborative annotation applications and advanced analytics applications. As such, it can provide business owners with the tools to share their data in order to obtain a loan, find a trusted partner, or manage a portfolio or network.

34.   3D   Printing / manufacturing

3D printing and "additive manufacturing" are highly technology-driven processes, so the digital files involved can be easily transferred with the click of a mouse. As a result, parts and products are easier to share and track—promoting smarter digital supply networks and supply chains.

The application blockchain supports these evolving infrastructures to improve security, protect intellectual property from infringement, simplify project management, and ultimately help the 3D printing and additive manufacturing industries continue to grow.

The invisible startup in this space is GenesisofThings, which is merging 3D printing, blockchain and IoT sensor technology to create more advanced manufacturing processes. In doing so, they want to reduce the cost of custom 3D printing products and automate more aspects of production and trading.

35.   Crowdfunding

The emergence of the crowdfunding industry will “de-intermediate” the financing process, allowing supporters or individual investors to directly fund makers and entrepreneurs, and applying blockchains is very appropriate.

For example, the film BRAID became the first feature film to be financed through token sales on the Ethereum blockchain, raising $1.7 million on Weifund.

In the initial token financing process (ICO), the company sells tokens supported by cryptocurrency, similar to the process of public offering of stocks by listed companies. It is another crowdfunding model promoted by blockchain technology—an entrepreneurship like OpenLedger Enterprises make it possible. Individuals can soon invest in real estate using “cryptocurrency crowdfunding”: Singapore's Real Estate Asset Ledger (REAL) is trying to use blockchain technology to inject more liquidity and transparency into real estate investment.

36.   Commodity-backed currency

Some real-world currencies are backed by physical assets with intrinsic value. For a long time, dollars are equivalent to gold.

In a bold experiment, Venezuelan President Nicolas Maduro plans to create a national digital currency, the “coin coin”, which will be supported by Venezuelan’s own oil reserves. And Russian President Vladimir Putin also began planning to launch a Russian digital currency ruble based on blockchain technology. Many people think this is the strategy of the two countries to deal with US sanctions. However, this may also be the beginning of a national digital currency tied to an asset, especially in some resource-rich countries.

Another project, known as Banana Coin, can be used to purchase tokens for Taiko or Bitcoin, and the price of the token and the price of 1 kilogram of bananas on the international market are anchored. In this commodity-backed token, the token holder may indirectly support an organic banana farm in Laos, and the farm may plan to export the banana to China, which has a large demand for bananas.

37. Library

In December 2017, the San Jose State University School of Information received $100,000 in funding from the Museum and Library Services Association to fund a one-year project to explore the potential of blockchain technology for information services.

Researchers reported their findings on a dedicated blog, and SJSU faculty Sandra Hirsh and Sue Alman will convene a nationwide forum in 2018 with experts in library science, blockchain technology and urban planning.

So far, the potential application scenarios of blockchain in the library field include helping libraries expand their services by building enhanced metadata archives, development protocols to support community book collection, and promoting more effective management of digital rights.

The work of SandraHirsh and SueAlman caught the attention of the American Library Association's Future Library Center (ALA). They will work with ALA to develop a book project on how the blockchain affects library case studies and what their projects will achieve in the future.

38. Publishing

Blockchain can be used in a variety of applications in the publishing industry, from entering the industry to copyright management to piracy.

Currently, the industry is controlled by a small number of publishers, making it difficult for new and unrecognized writers to enter the field. A new platform is being formed that provides a platform for writers to encourage collaboration between authors, editors, translators and publishers.

Authorship allows authors to post their work on the platform. Readers can use AuthorshipTokens (ATS) to purchase books from the platform based on Ethereum's encrypted digital currency, and authors can get 90% royalties in ATS. They can work with translators – they also get ATS as a reward – publishing their work in multiple languages.

Authors own the copyright of the work, so they are free to publish and distribute it elsewhere. Publishers can also use the Authorship platform to discover authors and print their books.

PageMajik is a workflow management system designed to streamline the release process. The system provides a secure, centralized catalog of all files that can be easily accessed by writers, editorial teams and publishers. Each person's role, rights and obligations can be specified before actually starting to use the platform to minimize errors. PageMajik is adding blockchain technology to its next version of the workflow system.

39. Fisheries

20-30% of the fish sold in the United States are illegally captured. According to the Wall Street Journal, fisheries are also one of the largest industries in the world that use forced labor. Blockchain-based systems can help the industry achieve greater sustainability, environmental protection and legal compliance.

Registering the type and number of fishing nets on the blockchain will enable the authorities to track whether the vessel is returned to the port of call and whether the number of fishing nets is the same as when they left. Blockchains can also be used to identify and track the fish itself.

In 2018, WWF worked with ConsenSys and SeaQuest Fiji on a blockchain system to confirm where, when and how tuna was captured. Ultimately, consumers will be able to use a smartphone to scan QR codes to track the entire process of fish “from bait to plate” and confirm that they are buying legally caught tuna that does not involve slavery or forced labor.

40. Photography

In our digital world, image theft is often done with a double-click of the mouse, and it may be difficult for a photographer to get royalties for the work because of the hard work he has done.

At the CES show in 2018, Kodak announced plans to launch its own encrypted digital currency, KODAKCoin, to ensure that photographers' works are properly paid when they are used. KODAKCoin will support a blockchain account and image rights platform called KODAKOne, which allows photographers to securely register new and old works.

41. Public assistance

Blockchain can help simplify public assistance systems, which are often in trouble because of bureaucracy. The UK began working with the startup GovCoin Systems in 2016 to develop a blockchain-based benefit payment solution.

GovCoin almost mimics the "jam jar method" – storing funds separately at different costs. It enables welfare beneficiaries to immediately get their benefits through their application – these benefits are paid through encrypted digital currency. Recipients can create their own digital jam jar rentals, utilities, etc., and distribute funds in the app.

42. Video streaming

By 2021, video is expected to account for 82% of all Internet traffic. Blockchain can help significantly reduce the cost of video traffic through distributed video encoding, storage, and content distribution. This could disrupt Netflix, YouTube and other businesses in the video distribution ecosystem.

The VideoCoin Network is moving toward releasing this part of the capital. Distributed networks provide cloud video infrastructure in the form of a peer-to-peer algorithm market – encoding, storage and distribution. It runs on a new blockchain and customers use VideoCoins to rent these services.

Livepeer is another distributed network that allows users to share live video directly with others. Users can earn Livepeer tokens by performing video transcoding. Stream is a similar blockchain-based platform designed to "make content creators gain authority" by allowing broadcasters to directly get Stream Tokens from their fans.

43. Games

Online games will continue to show explosive growth, and now e-sports has been considered a sports competition.

With a coveted championship title and considerable cash rewards, there is even a black market.

Blockchain technology enables gamers to have a more level playing field in e-sports competition, rewards and cross-platform trading of digital assets. Through the blockchain, digital tokens can safely exchange encrypted digital currencies without the need for third-party agencies.

Through the distributed ledger of the blockchain, gamers can use a perfect character or a set of skills and props in the digital world. This means they can get rewards faster and then exchange them through a decentralized network.

These opportunities have suddenly appeared. The Huntercoin project is a game ecosystem in which players can earn internal encrypted digital currency rewards (in this case, HUC coins). For eSports and sports betting, there is Unikoin Gold. Through a decentralized blockchain foundation, the gaming platform can promote safer and more transparent currency exchange.

44. Food and Beverage

E. Coli, Salmonella, the meat of accidentally killed horses – There have been many disturbing events in the food and beverage industry recently. Blockchain technology can help food manufacturers and distributors avoid these unfortunate events.

As a distributed ledger that records, stores, and tracks data, the blockchain provides a way to monitor the food supply chain and track pollution issues. It helps food processors to avoid sending harmful items to dealers; retailers can reduce intermediate links or recalls quickly and efficiently; and consumers can believe that what they buy is safe.

As long as the parties agree, the blockchain can serve as an accountability platform that can help reduce food recalls, mislabeled products, and confusion caused by fewer problems. For example, blockchain-based tracking makes it easy to apply a QR code that, when scanned, displays the complete process of the product to the customer's shopping cart.

45. Air travel

Think about the data on your flight: name, birthday, credit card number, immigration details, destination, and sometimes even hotel or car rental information, depending on how you book your flight.

Implementing blockchain technology to protect and coordinate this data can lead to a safer journey – and is more convenient for travelers. Converting paper materials and tickets to digital tokens provides a new layer of security. Using smart contracts as part of a ticket token can help airlines control the sale and use of tickets in order to provide a proven experience for their customers. It can also be used to create more accurate aircraft maintenance logs, prevent overbooking, and more.

The airline loyalty program is an area where blockchain technology has been applied. Singapore Airlines recently started using KrisPay, a blockchain-based digital wallet that can safely turn miles into cryptocurrencies for use with merchant partners. The program rewards frequent flyers and allows them to safely use their points on a variety of shopping, not just extra flights.

46. Crops and Agriculture

In addition to the safety and traceability discussed in the food and beverage industry, the blockchain has the potential to help the development of agricultural space. Decentralized blockchain systems can improve transactions, market expansion and product logistics across the agricultural supply chain.

In agriculture, blockchain records establish a level of trust between merchants who have previously had no transactions with each other. The blockchain allows for market expansion and encourages healthy competition between sellers.

A company, AgriDigital, is already using blockchain technology to digitize the purchase, sale and storage of cereals and plans to add other commodities. This makes it possible to centrally manage relationships and ensure security, from farmers to stock traders.

47. Gaming

Online gambling has grown significantly over the past few years. But some of its core issues – the huge gap in transparency – have not yet been resolved.

Introducing blockchain technology helps establish transparency and build trust between businesses and consumers. This technique helps ensure fair gambling: the records of the ledger are not manipulated, so there is no such thing as "the dealer will always win." Websites like Wagerr use the idea of ​​“no trust betting”, meaning that the system is decentralized and you don’t need to trust.

Decentralization makes gambling easier to participate and reliably balances the cost of online casinos. In addition, it makes anonymity possible, which is very important for many gamblers. Sites that require too much documentation and validation can hinder people's participation and can be a major target for hackers.

48. Pharmaceutical

The pharmaceutical industry is not a fast-growing industry. Although the industry is focused on innovation and problem solving, there are many cumbersome processes in clinical testing, FDA approval, and more.

Using blockchain books can create more efficient systems that open the door to rapid innovation, better regulatory production, and smarter medical data security. For example, research can be published early, and scientists don't have to worry about their intellectual property. If the report is published through a system that supports blockchain, there will be a permanent record that prevents others from stealing their intellectual property.

Blockchains can also implement safer drug production. If an error occurs, they can be found and tracked to the source. This helps prevent recalls, or at least allows manufacturers to quickly contact retailers to reduce the impact of unsafe drugs on patient health and corporate finances.

49 , truck transportation

Assets that can be tracked and recorded using the blockchain are more than just digital transactions – they also include physical items such as transport trucks. While many of the other industries discussed involve public records, private blockchain networks offer their own possibilities.

The Blockchain in Transit Alliance (BiTA) has been established to develop industry standards and train alliance members. It is currently the largest commercial blockchain alliance and its members are developing a framework that will transform the freight and transportation industry.

Blockchain can improve transactions, cargo tracking and fleet management, as well as protecting assets and improving fleet efficiency. It can help track contaminated foods, for example, by tracking trucks with ingredients and noticing whether to maintain safe storage conditions during any delay. In addition, it can help optimize the route by matching the items that the truck delivers in a certain area and truck.

But for the decentralized ledgers in this industry to work, there needs to be support from all sides: small and large companies, the last company express company and large trucking companies. Without full support, the system will not be fully optimized.

50. Waste Management

Recycling is one of the best ways to reduce landfill waste – but it can be a confusing and laborious practice without much return. Blockchain-based solutions can help optimize existing recycling systems.

Many companies are actively promoting recycling. Plastic Bank offers money or digital tokens in exchange for old plastics and works with IBM to expand its recycling solutions worldwide. Recereum is a more localized platform that allows communities to use tokens to reward those who do the right sorting and recycling.

51. Cannabis

After the legalization of cannabis in Canada and the increasing support for legalization of cannabis in the United States, the cannabis industry is investing heavily in technology and research and development.

The legalized cannabis industry may be subject to strict regulation and can benefit from improved transparency and safety in tracking production and distribution. Blockchain technology can provide records from farm to pharmacy, helping to improve safety and regulatory compliance.

Mile High Labs is a manufacturer and supplier of CBD products, working with Chain.io to create a blockchain tracking supply chain for the cannabis industry. In addition to the supply chain, Mile High Labs is also interested in using distributed ledger technology for regulation and compliance.

IBM also proposed blockchain technology as a way for the government to control the source and sale of cannabis.

52 , accounting

As the banking industry continued to adjust to the requirements of encrypted digital currency and blockchain technology, accountants began to follow suit.

Accountants use a large number of documents – from tax forms to bank statements to spreadsheets – containing a large amount of personal or organizational information. The tiering in blockchain technology makes it easier for accounting firms to process these sensitive data.

Data tracking through blockchain technology can also help automate certain accounting services using artificial intelligence, which can reduce human error and fraud.

Big Four accounting firms have joined: KPMG invests in programs and projects that research and share blockchain information; Deloitte develops blockchain-based software; PwC creates blockchain-based auditing services .

53. Architecture, structural design and construction

The construction industry is a highly regulated industry that employs a wide variety of merchants to handle complex projects. Verifying their identity, their quality of work and reliability can be difficult and time consuming. A blockchain-based ecosystem can help solve this challenge by simplifying the general contractor's ability to verify identity and track the progress of multiple teams.

Blockchain technology can also help ensure that building materials come from the right place and are of reliable quality, while smart contracts make it easier to pay for projects in a timely manner.

54. Federal Mail

Even the US Postal Service is considering implementing blockchains to improve operations and services. Distributed ledger technology can help create tracking systems, reduce the cost of USPS and save time for postal workers.

The Office of the Inspector General issued a report in 2016 summarizing the way the agency can use the blockchain, including streamlining its financial services (such as money orders), establishing a better “postal Internet of Things” and improving consumer identity verification. To simplify supply chain management.

55. Public transportation

 

The development of cities has also put pressure on many transportation systems, which are usually expensive to operate and inefficient.

The application of blockchain technology can help cities better understand how residents use public transportation. For example, the UK-based DOVU allows users to share their commute and transit data through blockchain-supported applications – including how they use buses, trains, shared bikes, and even pedestrian walkways – and then reward them with encrypted digital tokens. The company has partnered with automakers and public transportation company Go-Ahead.

Blockchains can also contribute to more practical and simplified systems. For example, public ledgers can be used to store and share information about vehicle efficiency or timeliness – this information may help to better optimize routes and schedules.

Original from CB Insights (https://www.cbinsights.com/research/industries-disrupted-blockchain/)

Source: Drip Technology Information (WeChat public number)