Blockchain - Use Cases Redefining Multi-Billion Dollar Industries

Blockchain is creating a new paradigm that is defined by transparency and reliability- the likes of which we haven’t seen before. Here are some of the top 4 use cases for blockchain in my opinion that I think can revolutionize existing industries or even create new ones. Feel free to add on to these as I'm sure there might be other industries I haven't mentioned.

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1. Shipping and Supply Chains: Blockchain technology has helped to streamline the increasingly complex work of supply chain management- from proving a product’s origins to getting full transparency into the status of shipments, temperatures, and conditions of containers during transit. Without the need to rely on multiple suppliers’ data and verification, all shipments can be easily traced back along with the ledger, including providing proof of origin.
   Two such examples of supply chain projects disrupting the industry are Vechain and The Morpheus Network. Vechain is a public blockchain that derives its value from activities created by members within the ecosystem solving real-world economic problems. The Morpheus Network is a supply chain ecosystem with the ability to extend itself on top of existing industry technologies through its blockchain technology. It is uniquely able to streamline the supply chain process of thousands of companies and has tremendous potential to revolutionize various processes used by leaders in multiple industries, such as trade and logistics.

2. Government and Public Sector: One of the major shortcomings of these sectors presently is the lack of transparency. It's no surprise that blockchain could find plenty of support here, where transparency is paramount. Tracking utilities and payments, issuing identification, managing business permits and deeds, and even election systems can benefit from the transparency, security, and accountability of the blockchain. Moreover, if certain tasks can be easily automated and verified by autonomous systems, government spending could be cut and saving millions of taxpayer dollars.

3. Data and Security: The anonymity of the blockchain means it’s possible for consumers to verify their identity via the blockchain, for example, without having to submit that sensitive data directly to third parties or the companies requesting it. It’s the trustless benefit of the blockchain coming back into play in a big way. Blockchain could also be the solution to inevitable data breaches so many organizations brace themselves for.
   For example, Xage Security claimed that their “tamper-proof” blockchain technology platform distributes private data and authentication at scale across a network of devices. Furthermore, it supports any communication, can work at the edge with irregular connectivity, and secure a myriad of different industrial systems.

4. Gaming: Until recently, gaming has been a largely centralized activity, with all data, assets, and in-game currency typically confined to the game from which it originated, and with all ownership of such items retained by the developers. The addition of blockchain could see a decentralized gaming future where items won or purchased in one game could be transferable and used in another, putting a real-world value on digital in-game assets.
   Some blockchain and decentralized platforms that are transforming the face of gaming include Vulcan Forged, Axie Infinity, and DeFi11. Vulcan Forged is the fastest-growing blockchain game and dApp platform with over 10+ games in their marketplace presently. They offer users services like one wallet, no-cryptocurrency, gas paid for, free play-to-earn games, no hidden fees. Axie Infinity is a Pokémon-inspired universe where anyone can earn tokens through skilled gameplay. Players can battle, collect, raise, and build a land-based kingdom for their pets. DeFi11 is the world’s first Defi-powered fully decentralized gaming ecosystem for fantasy sports and NFT gaming. Through their decentralization, they aim to make gaming platforms safe from fraud and lack of transparency that is offered by other centralized fantasy sports applications.