How Blockchain Technology Is Making the World Better?

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Blockchain technology can help tremendously in banks, insurance, health and the pharmaceutical industry, the supply chain of many sectors (agri-food, luxury, international trade, distribution, wine, aerospace and automobile), the music industry, energy and real estate. Blockchains have the potential to replace most centralized "trusted third parties", including banking transactions, notaries, land registry, etc., with distributed computer systems.

1. Drugs / Pharmacy

Blockchain technology can be used to improve the integrity of drugs. If drugs can be clearly identified and followed from production to consumption, it could save up to a million lives each year. Because DHL is already working with Accenture to set up a tracking and traceability serialization system based on blockchain technology.

"At the moment, the system already contains more than 7 billion pharmaceutical serial numbers, and the system can now process more than 1,500 transactions per second," said Scott Allison, DHL President, Healthcare. .

Allison is not just the capacity of the system in mind. For example, tracking and trace serialization should reduce costs, increase security and trust, and eliminate data movement that is prone to errors. The technology can add additional verified information to the item, which can not be manipulated. Validation is done by all participants.

"THE SYSTEM MEETS NOT ONLY GLOBAL SERIALIZATION REQUIREMENTS, IT EXCEEDS SAME," Allison said.

2. Mode / Mode

The CGS project allows consumers to follow the complete life cycle of a garment. This brings together companies from the fashion, apparel and consumer goods sectors. With this solution, consumers no longer need to rely blindly on the value of the fashion of sustainability. Blockchain technology tracks durability and garment compliance

3. Cross-border payments

In developing and underdeveloped countries, access to capital for small-scale food producers is often a big problem. Binkabi is a cross-border agricultural trading platform that innovates with the help of a bridge solution in Sweet Bridge blocks. Thus, a fair trading system for goods must be developed.

A blockchain banking solution has recently been announced by IBM. This aims to make international payments faster and more profitable.

4. Food security

In terms of food safety, IBM is working with food manufacturers Dole, Nestlé and Walmart. Thus, breeders, suppliers, processors, traders and retailers data are available not only for all parties involved, but also for supervisory authorities and consumers. Thus, each transaction can be traced and all information relating to food can be viewed. With all members of the food system having access to the blockchain, contaminated food can be quickly removed from the production and supply chain before being delivered to the department.

The World Wide Fund for Nature (WWF) monitors fish and seafood using blockchain technology. In this project, technology should help fight illegal fishing. However, full traceability of fish and seafood is also of interest to wholesalers and fish retailers, as they want to prevent their products or brands from being associated with illegal activities.

"Consumers are also increasingly caught by fully traceable fish and seafood that does not come from illegal fishing," says Bubba Cook, WWF's Tuna Program Manager for the Western and Central Pacific.

5. Humanitarian crises

Blockchain technology is not just used by businesses. The United Nations currently uses blockchain technology in 16 areas, including:

· World Food Program (refugee assistance)

· Office for the Coordination of Humanitarian Affairs (donor funding, backup and monitoring of supply chains)

In addition, Mahrinah von Schlegel, Executive Director of Nonprofit Embassy 2.0, is currently exploring the possibility of using blockchain technology to tackle current problems, such as child trafficking.

As part of the ID2020 public-private partnership, Microsoft and Accenture announced a partnership. The goal is to give 1.1 billion people a legal form of identification and identification using blockchain technology.

6. jewelry

In collaboration with Everledger, jewelry company Brilliant Earth plans to use blockchain technology to accurately track the origin of diamonds and other gems. This ensures that only stones without conflict are processed.


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