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Blockchain use cases have expanded far beyond cryptocurrencies in recent years, with multiple industries adopting the technology across a range of sectors including healthcare, logistics, and financial services.
There are many factors behind the hype. Blockchain is decentralized and transparent, increasing the capacity of the entire network and opening the window to solutions that require significant computational power. More importantly, it gives users the ability to manage assets, including data, without relying on third parties.
As blockchain evolves, companies around the world struggle to find the best ways to implement the technology in various applications. To gain further insight, Cointelegraph has reached out to projects that are disrupting the industry and bringing blockchain closer to people’s everyday lives.
Healthcare on blockchain
Medical records have long been considered the domain of clinicians and medical organizations around the world. In 2020, a database was released in Argentina containing sensitive information such as government IDs and taxpayer numbers of over 115,000 of his people who applied for COVID-19 distribution permits.
This incident prompted ShelterZoom to develop a solution to protect patient medical data from similar future cyber breaches. The company created a software-as-a-service provider for smart documents and partnered with private hospitals to give patients complete ownership and control over their medical records.
ShelterZoom CEO Zhao Cheng-Shorland told Cointelegraph, Each patient record is tokenized, which means each online record has a private key attached to it. .
Via blockchain-based extensions or mobile apps, users can access the medical records dashboard and perform all necessary operations at any time. Patients can also track email attachments and revoke access regardless of whether the recipient has opened the email. A senior official explained:
By moving record management to the blockchain ecosystem, healthcare providers and patients will have instant access to medical records, rather than waiting for paper records to be delivered or faxed.
As a result of the partnership, more than 300,000 patients are currently accessing the Web3 application, with plans to extend the service to other healthcare providers in Argentina.
Data ownership
In the decades since the advent of the Internet, data has become a valuable resource. Historically, users have provided their personal information to her websites and services for free. There is no financial gain when these companies sell your personal information to third parties. But with his Web3, users are once again in control of their data and can decide whether or not to monetize it for their own benefit.
Dimo is a decentralized transportation data protocol that allows users to create verified vehicle data records. Owners can privately share this information with the application, allowing them to negotiate better premium rates and financing rates. Referrals and participation in the network will be rewarded with native DIMO tokens.
Related: What is blockchain technology? how does that work?
Alex Felix, Chief Investment Officer of CoinFund, one of Dimos investors, told Cointelegraph:
Whether it is NFTs or games, we expect that the more blockchain technology is used outside of trading and speculation, the more broadly consumers will understand the value of this technology. We want to get to a place where we choose cryptography to be the best, and that comes from focusing on the best use cases.
Felix believes projects focused on first-party data will replace advertising cookies and underpin personalization. Web3 will allow users to monetize their data, and consumers will benefit substantially from this fundamental innovation made possible by blockchain technology.
Luxury turns to blockchain
The Aura Blockchain Consortium was founded to enable luxury brand customers to verify the authenticity of their products. For example, through its partnership with Aura, Prada enables clients to track their recycled gold jewelry and diamonds, ensuring their authenticity and transparency at every stage of their production.
Other members of the consortium include LVMH brands such as Louis Vuitton and Christian Dior. The group provides customers with diamond certificates powered by Aura, which preserves each stone’s characteristics, provenance, and journey.
Traceability, especially as it relates to diamonds, has long been a challenge for the jewelry industry, which strives to sell only conflict-free diamonds.
Aura is based on the Ethereum blockchain and uses Microsoft Azure, but the project’s traceability smart contracts and blockchain infrastructure were developed by ConsenSys. Other funding members also include Mercedes-Benz and Cartier.
