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Use Cases - Production and Retail

Blockchain has the potential to enable significant improvements and efficiencies to economies through a wide variety of solutions.

Supply chains

Supply chains are typically characterized as siloed systems, with each having their own method for tracking the movement, ownership and invoicing.

These systems could benefit from joining a distributed network for communicating the tracking any state changes. Connected systems could synchronize with an immutable ledger where network participants can all agree on a state of play and no longer need to rely on disparate information coming from varied sources.

Workforce

One of the challenges faced in HR is determining the validity of the data they collect on the workforce.

There are massive industry-wide costs of replicating the validation process each time employees move to new employment. The amount of data retained on employees across companies is ever increasing and securing such personal data is becoming burdensome.

If employee information could be validated once, and the information was simply accessed of a public and immutable ledger, the cost savings would be substantial industry-wide.

Natural resources

The Natural resources sector is heavily reliant on the exchange of information among several intermediaries, which is often referred to as labyrinthine within the industry.

Price shifts for natural resources are continuously in flux and any lags in communicating price signals to the market players create data redundancy.

Companies that deploy blockchain solutions stand to reduce operational costs, create new revenue opportunities, reduce the time and effort needed for settlements and may even require less initial capital outlay to enter the industry.

Customer aquisitions and loyalty programs

The development of blockchain enabled solutions can assist companies in distributing customer transactional information on an immutable ledger.

With permissioned access to an immutable distributed ledger, customers can retain privacy in their dealings with these companies, meaning they would more readily sign up, while loyalty program providers can take advantage of efficiencies gained by blockchain distribution and truth states.

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