Blockchain industry hasn’t caught fame for no reason. It is famous. It has haters. You know how that Instagram quote goes if you have haters then you must be doing something right.
So well, in this case too, blockchain is getting something of the things very right.
Oil to Soybeans
Technology cuts down the use of paper, something that we all need before we need another planet to shift as we are rapidly destroying this one.
As we know blockchain eliminates the slow and inefficient process of sending paperback and forth all the while adding a layer of protection. So to prove it right, in 2017, Louis Dreyfus Co. a global trading house conducted the world’s first agricultural commodity trade via blockchain. He sold a cargo of soybeans and the parties exchanged digital contracts, letters of credit and record of government inspections to complete the deal. The transaction was faster as it took one week instead of two.
The games industry is quite big and hip in the blockchain market. Various companies are creating new kinds of digital and analog games. Some are even integrating the ones with it.
There is ETHTown, MegaCryptoPolis, BitPainting to name a few.
Project Management and Employee Rewards
Pretty self-explanatory but blockchain can accurately track the movement of physical products and virtual currency. Every transaction can be recorded on the blockchain-based platform, reducing ambiguity. Companies can also set up payment methods once the task is completed. You can even construct a reward system to encourage employees if their task is completed more quickly.
Imagine you didn’t have to verify your identity each time you went somewhere? You wouldn’t have to carry all that documentation long with ou just to prove who you are when in fact you really don’t know who are. And boy, if you forget any of this and had to answer truthfully we only imagine the identity crisis that might hit you that time…
But don’t worry because IBM’s blockchain division is already working on this. They want to give individuals more control over their identities which mean they get to choose what aspect would they like to share.
Know what’s real
People often fret over what they buy and most importantly if it’s real. Elitist problems but it’s okay. The blockchain is a proletariats tool but we don’t really forget the bourgeoisie either. Hence, Chronicled is one startup building blockchain-based technology for supply chain management. It allows you authenticate physical luxury goods so you know if that Fendi bag is really Fendi or not.
And, if you are part of the mean girls club then you can run a quick scan over any’s bag and check to see if it’s original or not.