These are interesting predictions and real-world industry applications of Blockchain Technology that will take the world by storm in 2022! https://arsr.tech/blockchain-use-cases-in-2022-real-world-industry-applications/
3. Introduction
Blockchain Technology has been a hot topic in 2021 and the
same will continue in 2022 owing to its many exciting features
like:
Decentralized Structure
Increased Data Protection (used Cryptography)
Increased Trust between different entities
Reduced Costs due to efficient transactions
Excellent speed
Immutability and many more!
Blockchain is already disrupting a handful of industries and it
is set to disrupt a few more in 2022. So, what are some real-
world applications of Blockchain that will come to the fore in
2022? Read on to find out!
4. Exciting Blockchain Applications to
look out for in 2022
1. For Social and Political Objectives
2. Interoperability with Financial
Institutions
3. Increased use of Blockchain in Retail
4. Incorporating Blockchain into
Government Agencies
5. 1. For Social and Political Objectives
One of the exciting Blockchain use cases will be its
application in political and social activities.
Did you know? Blockchain is already being considered as
a potential technology that can transform digital rights
management, supply chain management and reduce
identity theft. This is due to the trust & transparency-
related features that the blockchain brings to the table.
That is why blockchain applications that combat
misinformation gained popularity in 2021 and will
continue to grow in 2022.
Let’s look at a live example of how blockchain helped
fight misinformation:
6. The New York Times’ Research & Development
teams experts created a program (a prototype) that
can seamlessly record various activities with the help
of a photograph as metadata. The program will then
display all the information captured via photographs
to therespective users on their social media feeds.
Such innovative blockchain solutions help establish
better claims over content like videos and photos
which in turn enables organizations and individuals
to fight misinformation. With an increase in the use of
blockchain technology, many leading experts predict
that blockchain will emerge as an innovative tool for
social change.
7. 2. Interoperability with Financial
Institutions
With blockchain technology witnessing a boom in
2020 and 2021, many users are showing more
interest in the innovative technology as compared to
traditional banks & financial services.
Banks are realizing this increased interest & trust of
customers in blockchain technology and its huge
potential for the financial sector. That is why many
traditional and modern financial organizations are
adopting blockchain to address the unique needs of
customers and gain their trust.
8. Here are a few examples of Blockchain adoption by
some of the leading financial institutions –
HSBC – This widely-known organization has
recently carried out two credit transactions on
blockchain technology between companies that are
located in the Gulf.
JP Morgan –They are effectively leveraging the
many benefits of Blockchain to address automated
margin payments.
9. 3. Increased use of Blockchain in
Retail
2021 has certainly introduced blockchain into the retail
sector. But, in 2022, blockchain technology will continue
to evolve. These advancements in blockchain will be
leveraged by the retail sector for inventory & supply chain
management capabilities.
2016 was the year when blockchain first took its baby
steps in the retail sector. Well-known organizations –
Walmart & IBM partnered to create a blockchain-based
solution that simplified tracking of food products. The
blockchain solution helped Walmart to simplify payments
for multiple retailers and shipping companies while
seamlessly tracking all the shipping activities.
10. Fast forward to 2018 where IBM partnered with
Maersk to develop an innovative blockchain-based
trade solution called Trade lens that solves the many
challenges of freight management.
Oher retail organizations that adopted
blockchain include Volvo, Nestle, Ford and even
Amazon! So, as you can see, Blockchain technology
holds a lot of promise for the retail sector in 2022.
11. 4. Incorporating Blockchain into
Government Agencies
One of the biggest blockchain trends that have the
potential to dominate the blockchain market is the
utilization of blockchain technology in government
agencies.
While a few countries are coming forward to adopt
cryptocurrencies there are many other countries and
governments that are realizing the various benefits
of Blockchain.
12. For example:
South Korea has deployed a robust block-based solution
that stores the driving licenses of a million drivers.
Japan’s Finance Minister has openly acknowledged that
Blockchain can be a potent tool in fighting the global
pandemic.
Columbia is also supporting the use of blockchain-based
payment systems and cryptocurrency.
Thailand has been mulling on introducing a blockchain-
based document storage solution where all the judicial
documents can be seamlessly stored.
These are 4 interesting predictions and applications of
Blockchain Technology for 2022.
