Blockchain Applications

Blockchain the underlying technology behind crypto currencies like bitcoin and ethereum could have applications in many industries.

Blockchains distributed ledger and features like disintermediation, immutability, identity and smart contracts are being leveraged by new applications and products. Many companies are today experimenting with private and public blockchains platforms. Here are some of the possible applications

Energy

• Energy exchanges

Banking, Payments & Insurance

• For Cross-border payments - lower cost of transaction

• Asset Tracking

• Smart contracts

• P2P insurance

Healthcare

• Asset tracking

Politics and Non-profit

• Digital Identity - reduce identity fraud

• Online Voting

• Land Registry

Decentralized markets

• prediction markets

Retail

• Gift card ownership

Careers & employment

• Career tracking

The applications is in the early stages, problems like scalability, efficiency etc has to be solved before widespread adoption can be expected. Bitcoin blockchain is inefficient with POW consensus model requiring limited transaction volume per node, high energy consumption for mining blocks, etc

- Tracking assets