Promising Blockchain Use Cases and Killer Applications

Promising Blockchain Use Cases and Killer Applications: Although there are many potential applications for blockchain technology, there are a few that stand out as having the potential to be truly game-changing. These are often referred to as killer applications. Some of the most promising killer applications for blockchain technology include supply chain management, identity management, and data management.

Promising blockchain use cases and killer applications are being developed every day. The Shiba Inu team is committed to finding and developing the most promising applications for the SHIB community. The team has a proven track record in the cryptocurrency space, and they are committed to creating value for the SHIB community.

How Do Different Industries Use Blockchain?

Blockchain has the potential to streamline processes across many different industries.?

• In the supply chain industry, for example, Blockchain can track the movement of goods and materials as they change hands. This would allow for greater transparency and accountability and reduce the risk of fraud.?
• In the healthcare industry, Blockchain can be used to secure patient data and streamline the process of billing and claims.

The Walmart Problem

Walmart was facing an issue where people were returning goods citing quality issues. Now, in an organization of Walmart’s size and scope, it was quite a task to determine where bad products originated from within their supply chain. Their supply chain involved the following steps:?

To ensure their reputation wasn’t tarnished, they incorporated blockchain into their supply chain. Each event and detail within each step of the supply chain was logged. Now, in the scenario where a product was deemed bad and returned, Walmart would be able to determine where the issue with the product originated from in the supply chain.?

Uses of Blockchain

The?use of blockchain?goes far beyond?cryptocurrency?and?bitcoin. Here are some of the most common uses of blockchain in different industries:

• Anti-money laundering tracking system
• NFT marketplaces
• Original content creation
• Real-time IoT operating systems
• Advertising insights
• Music royalties tracking
• Cross-border payments
• Voting mechanism
• Supply chain and logistics monitoring

Other Fields That Use Blockchain

The financial services industry is an open field that uses blockchain technology extensively, but it's not the only one. Forbes mentions healthcare, crowdfunding, and ride-sharing in its article?"Eight Ways Blockchain Will Impact the World Beyond Cryptocurrency."?Let's look at a few other fields.

Travel

Blockchain technology can be used for things like:

• Tracking luggage, especially with multiple flights in one itinerary and international flights
• Identifying passengers, saving time, and reducing lines and wait times
• Making and accepting payments for services

Music

The rise of digital music has posed problems regarding issues like piracy and artist compensation. Blockchain can:

• Help prevent piracy (illegal sharing) of music files
• Be used to compensate artists for purchased songs and albums

Cyber Security

Even a giant company like Lockheed Martin is using Blockchain in its cybersecurity efforts. Blockchain can:

• Help secure sensitive data, thanks to its cryptography feature
• Eliminate the need for passwords, because users and devices can be authenticated using the public and private keys

Human Resources

Blockchain technology is a natural fit for improving time-consuming and costly HR procedures. For example, it can:

• Eliminate the need to run individual verification checks on potential employees—blockchain transactions can store data regarding identity and employment history
• Track payments and expenses, making things like paying taxes much easier for both employers and employees

Blockchain as a Use Case in Banking

Blockchain finds excellent use in banking. As of now, a user validates his identity to each bank he goes to, over and over. Is there a way we can ease the process with Blockchain? The answer is yes. We can use truffle, ethereum, ganache, and smart contracts, which are part of the Blockchain technology ecosystem, to make it work.

Develop a Bright Future in Blockchain Technology

As you can see, blockchain technology is enabling a whole new class of cryptocurrencies with unparalleled security and ease of use. While not all of the 3,000+ cryptocurrencies being developed are going to last, blockchain technology has a bright future. That’s why getting trained and certified in blockchain technology is a smart choice for your future as well.