Blockchain Developments is building a comprehensive solution for Supply chain, Politics, Decentralized currency, Financial Technology, Healthcare, Infrastructure, and other business verticals. Read our blockchain case studies and use cases of successful implementations of blockchain development solutions for our various clients.
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Case Studies of Blockchain Technology | Blockchain Developments USA
1.
2. DiscussionPoints
What is Case Study?
What is Blockchain Case Study?
Supply Chain
Politics
Decentralized Currency
Financial Technology
Healthcare Technology
Identity Infrastructures
3. What is a Case Study?
In the social sciences and life sciences, a case
study is a research method involving an up-close,
in-depth, and detailed examination of a subject
of study, as well as its related contextual
conditions. Case studies can be produced by
following a formal research method.
4. Presentations are communication tools that can be used
as demonstrations, lectures, speeches, reports, and more.
Most of the time, they’re presented before an audience.
What is Blockchain Case Study?
Blockchain case studies. Blockchain has the potential to be a disruptive
technology across industries, with varying impacts on finance.There are
a range of different ways blockchain technologies can be used to
generate business benefits, such as improved visibility and near real-
time reporting.
6. SupplyChainProblem
The supply chain industry has become much more complex.
The amount of time taken for a payment between a customer
and a vendor, or a manufacturer and a supplier is notably long
and tedious. The products once received, are extremely hard
to trace back to its supplier which in turn makes it difficult to
eliminate defects in food products, consumer goods,
industrial equipment or digital offerings.
The friction in this supply chain is a major problem since
there are a lot of middlemen and this vast chain increases the
uncertainty and stops the chain from working as desired. A
chain that is just a list of simple transactions turns into a
lengthy procedure involving a high number of steps.
7. SupplyChainSolution
The blockchain technology is the answer to the number of problems
that are listed above. Due to the distribution of the data on the
blockchain, it is highly impossible to breach that. The digital ledger
is secure because each transaction is linked back to the previous
one, making tampering an impossible task. The multiple copies of
the same ledger provide the truth for the each and every
transactions. The status of the product at each stage of production
can be recorded and traced back using blockchain.
The tracing would link each product to its initial source and all the
middlemen it comes across. It is a software program that carries out
the contract and is stored on the blockchain. It will work the way it
has been programmed leaving no room for fraud or interference.
Blockchain has the power to change the whole supply chain,
industries and ecosystems by tracking deadline, avoiding costly
delays and the handling of manual paperwork.
8. Problems in Political Systems
Elections. Democracies. Politics. It is an open secret that our
political systems are imperfect. In fact, one wouldn’t hesitate to call
them broken. The current system seems more and more
dysfunctional and ineffective as the days pass because of the
information that we receive from different sources. With the
increasing news of manipulations by the official authorities, in the
process of counting votes or passing a law, the trust in the
government has reached new lows in the recent times.
The recent sessions of the governments in all the leading
democracies have been amongst the least productive ones. Certain
news about the foreign and non-state actors with real power
affecting the elections has shaken the pillars of trust the citizens
had in the prevailing system of politics. Majority of the people from
all over the world are expressing their dissatisfaction and concern
over the direction in which all the democracies are headed.
9. SolutionviaBlockchain
Blockchain technology gives us a viable solution here. With its
decentralized, selective and impenetrable storage of data, it also
provides a perfect ledger to track the information. With this
feature, blockchain has the ability to replace anything where the
humans are prone to make mistakes and this is where the
governments come to mind. Voting could go digital with no
scope of manipulation by any official authorities or foreign
agents involved. All would be able to vote online, and it would
be put on the blockchain ledgers on each computer in the
blockchain.
The irreversibility of the transactions would make the votes
permanent without any possibility of changing them once cast.
Even the election results would be stored on nodes which are
distributed over the network which would make it theoretically
impossible to temper. This could be used as a standard all over
the world for corruption-free elections and in turn, reduce the
cost of monitoring the elections.
10. DecentralizedCurrencyProblem
The money that we use today is in a centralized system. A
centralized currency is the one that is controlled by a central
authority. A central authority that can change rules as per
their convenience and as they see fit. They could print money
as per their need and can have an individual’s account frozen
if they wish. The financial and banking systems which issue
the currencies have been there for a long, long time and
slowly the problems of human nature crept in greed and
irresponsibility.
There is always a chance of someone creating a counterfeit
when it comes to centralized currency. Centralized money
can always be manipulated in a way to control the ones in
power, to the extent of locking an account or taking away the
money if an individual does not behave as per the authority
in command of the currency. The centralized currency would
work seamlessly if it is managed by people who have good
intentions and a clean conscience.
11. DecentralizedCurrencySolution
The above makes us realize that there is a need for a
decentralized currency. A currency that is controlled by
people and nobody can access someone else’s currency
without the holder’s permission. Bitcoin was the first of
many blockchain applications to create decentralized
currency. It made the idea that transactions could be
processed with no need of a middle -party possible. And, it
exponentially grew the security, speed, transparency, and
permanency of information transfer a possibility. A user of
Bitcoin is never forced to use a centralized service.
Bitcoin allows its users to withdraw into the neutral field of
decentralized banking at any time. The way to judge the
legitimacy of centralization is always the ability of users to
opt out which is provided by Bitcoin. This is the difference
that the world will possibly soon embrace. It will realize the
need to turn towards and decentralized currency systems.
12. FinancialTechnologyProblem
FinTech could be defined as an industry of technology that is or
could be applied to the financial world. It is the technology that will
help the companies manage their financial aspects including the
business processes and models. FinTech is not new. It has been there
for a decade now, acting as the basis for end-to-end processing of
the financial transactions. Currently, FinTech uses the Internet via
cloud services and stores the all the important information on the
servers which are prone to a data breach.
The details of a user are held with the bank and an individual has no
control over the security of their own information. Authentication
methods and secured transmission are the major issues faced by
FinTech at the moment. Ensuring the authenticity and identity of
the person signing the documents, supervisory controls on the
financial markets, transaction control, insurance claiming
processes, etc. are some of the issues created due to the oversight of
the Financial industry.
13. FinancialTechnologySolution
This is where blockchain comes in to solve all these problems. With
the application of blockchain in FinTech, all the data available will be
decentralized. All the transactions taking place will be authorized by
the miners, making it immutable and unhackable. With the help of
the public ledger, all the transactions recorded will be on the chain
and validate each and every other transaction, making it reliable and
secure.
The blockchain technology will discard any third party trying to get a
hold of the data and make it a peer-to-peer transaction, giving
everyone complete control over their data security. The transparency
that an irreversible ledger provides would make financial operations
smooth-running. Moreover, the ability to create smart contracts
would significantly decrease the possibility of defaulting on
payments. This way blockchain would reinvent the way FinTech
industry operates making it more secure and stable than before.
14. HealthcareTechnologyProblem
The underlying essence of every business has always been the
need to bring a revolutionary change in the lifestyles of human
beings. In the field of healthcare, it is no different. In fact, the
need to bring an evolutionary change is urgent in the field.
High-quality drugs coupled with immediate care and relief is
what all the healthcare facilities are looking to provide to all
their patrons.
Each facility is focused on delivering high-quality care to the
clients. But here, in the field of medicine, there is a major flaw
when it comes to fulfilling that goal. The providers and payers
are the ones who have the authority over the decision making
that leads to care-service delivery and the related data. The
middlemen dependency on the federal regulations is making it
difficult for the healthcare service providers to give patients’
health a top priority.
15. HealthcareTechnologySolution
This is where blockchain comes into the picture. Using blockchain, you
can keep track of all the systems operating under this network because
of the distributed ledger. Through this, alteration of records will be
impossible and the community will be controlling the data themselves,
updating and amending as per their requirement. For a perfect
healthcare IT experience, you need the scalability according to the
need, disaster reimbursement, data encryption, cryptography
technologies and built-in fault immunity which could all be possible
with the usage of blockchain technology.
Managing the medical data of a medicine as well as that of a patient
becomes easier, secure and affordable. Due to the blockchain
technology, the patient will himself be in charge of the data and can
control who can change or update it. The process of billing and claim
management would provide greater auditability and traceability. In
the field of medical research, the blockchain would bring a paradigm
shift since the storage of timestamp is a major requirement. This way,
blockchain would pave the way for enhanced health and timely
interception of diseases.
16. IdentityInfrastructures Problem
The problem of identity theft is an exceedingly common
occurrence in countries that have a centralized system for storing
identity information of their citizens. The lack of control over
people’s own identities has been one of the major issue faced by
the governments around the world today. The identity badges,
driving licences, social security numbers, bank account details,
etc. seem to be hackable and/or replicable.
The incidents of data breach are increasing day by day leading to
the increase in the data needed for verifying the identity of an
individual. The data connected to a person has expanded due to
the numerous apps and services available on the web apart from
the data needs of banks and government. Today, the personal
information is highly susceptible to data breach due to the
storage in a centralized database and a solution is needed.
17. IdentityInfrastructures Solution
The demand for a secure system is the need of the hour. With the
advancements in the field of blockchain technology, the word ‘privacy’
might actually mean something apart from just being in a dictionary.
Using blockchain technology, you can leverage the irreversibility of
information incidents to make permanent records of identity
verification that are not stored in any cloud. It will provide a better
solution than the current situation where the data is stored on a
centralized server and is “owned” by various service providers.
Data stored on blockchain will get distributed over the vast network of
the mining devices, granting ownership to the individuals. With the
usage of public-key cryptography and the decentralization offered by
blockchain, the difficulty level of cracking the chain will reach a new
high and even the combined power of supercomputers will fail to
breach the data of individuals. Now, every user can gain control over
their digital identity with quick and secure validation without a
centralized authority and make privacy a standard.