Use cases of Blockchain & IoT

Supply Chain– According to IBM,?40 other organizations?are trying to improve and speed up a very complicated and time-consuming process of international trade and shipping and bring transparency to its unavoidable bureaucracy.

By merging these two techs, temperature control to container weight, enables shippers, shipping lines, freight forwarders, port, and terminal operators, inland transportation and customs authorities to interact more efficiently through real-time access to shipping data and shipping documents in a single shared view of a transaction without compromising details, privacy or confidentiality.

In addition to this, all the parties involved in international trade can easily collaborate in cross-organizational business processes and information exchanges, all backed by a secure, non-repudiable audit trail.

Logistics-?Pharma and many other industries are seen using these solutions that have the potential to generate value leveraging on IoT and blockchain in a relevant way. With several IoT sensors being verified against predetermined conditions, medicines can be given to specific conditions.

Insurance-?claims management, fraud management, health insurance, and property & casualty insurance seems to have improved in many ways with smart contracts combined with IoT data from wearable personal technologies, sensors on objects (vehicles, shipping containers), location-based sensors (factories, warehouses, homes, alarms, cameras, industrial control systems).