Blockchain technology is now used in various sectors of the economy, including healthcare, education, agriculture, automotive and banking. The ability of a distributed ledger to ensure data integrity, traceability and transparency was one of the key features that contributed to its adoption by companies in these sectors.
Here are seven practical examples of real Blockchain network usage.
1. Bumble Bee Tracks Supply Chain of Fish Using Blockchain:
In March 2019, Bumble Bee Foods, one of the largest seafood manufacturers in North America, entered into a partnership with SAP, a cloud-based company. Their partnership enabled Bumble Bee to use SAP Blockchain to track the movement of fresh fish from the Indonesian ocean to the market. As a result, the company’s tuna fish consumers will be able to scan the product ID to ensure that their fish is safe for consumption.
2) Tracking food products using Walmart Aids Traceability blockchain:
Since 2017, Walmart, America’s largest food retailer, has been using Blockchain for food traceability. In June 2019, Walmart entered into a partnership with the MediLedger Consortium of the pharmaceutical industry to track pharmaceutical products using Blockchain.
3. Pzifer Pilots Blockchain to Ascertaint Who Touch a Drug :
The Pzifer Pharmaceutical Corporation participated in a pilot program that used a closed lockchain system to determine who and when touches a particular drug. In addition, the system allows pharmaceutical manufacturers to place unique identification numbers on these products to reduce counterfeiting.
4. Toyota Resorts to Blockchain for developing driverless cars:
Toyota Motor Corporation, a Japanese car manufacturer, pilots a program based on Blockchain and also develops cars for self-driving. Until now, Toyota has used Blockchain to minimize fraudulent purchases of digital advertising. It also announced that it is testing a power system that uses a Blockchain circuit to allow people to trade electricity.
5. MasterCard Builds Blockchain is based on a real-time payment system.
MasterCard filed a patent, which indicates that a financial services company is developing a real-time payment system based on a blockchain. In August 2019, MasterCard also announced that it would test a blockchain-based product to combat counterfeit fashion products. This payment giant is also hiring blocking experts who may try to develop crypto currency and its wallet.
6. Verisart verifies the authenticity of works of art using Blockchain:
Verisart is the first company to use Blockchain to help identify and trace art objects and collect them. Earlier this month, Verisart announced that it had raised $2.5 million in seed funding. It said the funds would help it expand its block-chain platform to authenticate more works of art.
7. The De Beers Group monitors the diamond supply chain through the block chain:
In May 2018, the diamond business of the De Beers Group, in collaboration with other companies, used a block-chain to track diamond supplies. According to the company, it was able to track the movement of about 100 polished diamonds from the mine to retailers.
These are some examples of the use of blockades today, and this shows that technology can be implemented in virtually any industry. Companies around the world are also developing their own products on the block-chain, and what each has in common is the goal of transparency.