ClickCease

Blockchain Use Cases Part II: Non-Financial and Financial Use Cases

Prove
July 27, 2021

A comprehensive picture of the various applications that are being explored with blockchain.

It is now a known fact that the use cases of blockchain have been increasing by the day. There have increasingly been many ways in which real-world assets could be linked to the blockchain and traded digitally. For example, a proof-of-concept is being run for trading commodities (like physical bars of gold, silver, and diamond) after being authenticated via blockchain, establishing ownership of real-estate properties to provide election voting, etc.

Apart from startups, banks also have been actively investing in this decentralized system, as we have shown in a timeline. Various banks have shown interest and started experimenting with the blockchain.

The below infographic provides a snapshot of companies and the broad applications that they are providing over blockchain. These include both non-financial and financial/currency-related (bitcoin and other digital currencies) applications.


Untitled

Here’s a short description of each of the use cases:

  • App Development: Proof of ownership of modules in app development.
  • Digital Content: Proof of ownership for digital content storage and delivery.
  • Ride-Sharing: Points-based value transfer for ride-sharing.
  • Digital Security Trading: Ownership and transfer.
  • Digitization of Documents/Contracts: Digitization of documents/contracts and proof of ownership for transfers.
  • Decentralized storage: Decentralized storage using a network of computers on blockchain.
  • Company incorporations: Digitizing company incorporations; transfer of equity/ownership and governance.
  • Decentralized Internet and computing resources: Decentralized Internet and computing resources to cover every home and business.
  • Home automation: Platform to link the home network and electrical devices to the cloud.
  • Digital identity: Provides digital identity that protects consumer privacy.
  • Escrow/custodian service: Escrow/custodian service for the gaming industry; loan servicing and e-commerce.
  • IT portal: A smart contract IT portal executing order fulfillment in e-commerce/manufacturing.
  • Patient records: Decentralized patient records management.
  • Digitizing assets: Improves anti-counterfeit measures.
  • Reputation management: Helps users engage, share reputation and collect feedback.
  • Prediction platform: Decentralized prediction platform for the share markets, elections, etc.
  • Enables authenticity of a review: Enables authenticity of a review through trustworthy endorsements for employee peer reviews.
  • Marketplace for sales and purchases of digital assets: Proof of ownership and a marketplace for sales and purchases of digital assets.

To learn about Prove’s identity solutions and how to accelerate revenue while mitigating fraud, schedule a demo today.


Keep reading

See all blogs
Prove’s Brad Rosenfeld Explains the New Customer Onboarding Process on Fast Company

No longer confined to top-of-funnel engagement and brand awareness, CMOs are now leading efforts to shape the entire customer experience journey.

Kaushal Ls
June 6, 2024
PYMNTS TV: Prove CEO Rodger Desai Explains Need for Phone-Based Approach to Authentication

Prove’s CEO Rodger Desai was featured recently on PYMNTS TV, where he met with PYMNTS CEO Karen Webster to discuss trends and shifts in the identity verification market.

Kaushal Ls
June 4, 2024
Prove’s Tim Brown Explains How to Reduce Fraud and Improve Onboarding with Identity Verification

Reporters from GreenSheet, a popular publication that highlights trends in the banking, financial services, and fintech markets, recently met with Prove’s Global Identity Officer, Tim Brown to learn how advanced identity verification solutions are driving faster and better digital customer onboarding.

Kaushal Ls
May 21, 2024