By leveraging GiveTrack, charities can drive stronger trust with donors. In police investigations, maintaining the integrity of the chain of evidence is paramount, so a distributed, hard-to-falsify record kept via blockchain could provide an added layer of security to the evidence-handling process.
In addition, blockchain can be leveraged for flagging certain kinds of transaction patterns — giving police a heads up when an individual engages in suspicious financial activity. Startups are innovating to bring these benefits to law enforcement. If employment and criminal records were stored in a blockchain ledger and thus free from the possibility of falsification , HR professionals could streamline the vetting process and move hiring processes forward more quickly. Once a person is hired, employee engagement becomes a big part of people management — and blockchain could play a role.
Colleagues can send recognition to one another in the form of tokens, which can be used in a company marketplace on different goods and services. The benefits of using blockchain for smart contracts and verifiable transactions can also be applied toward making business accounting more transparent. Boards can also use the app for shareholder voting by proxy and collaborative proposal management.
The company sees blockchain as a tool to welcome more employees and contractors from developing countries into North American and European businesses. This can make business owners feel like credit bureaus have all the power over loan terms, even though the credit bureau may be assessing outdated or inaccurate information to determine their reports.
In doing so, they hope to lower the costs of 3D printing custom items using airline parts as a case study on their website and automate more aspects of production and transactions. Startups such as OpenLedger make that possible. As projects reach target funding, money is transferred to a secure escrow wallet that unlocks funds gradually. Backers can see how the money they invested is being spent and can provide input about the direction of the project, e. Some real-world currencies are backed by underlying physical commodities that have intrinsic value, and for a long time the US Dollar had an equivalent in gold.
And Vladimir Putin has commisioned his team to make a blockchain-based version of the russian currency rouble.
Many saw it as a ruse for both countries to circumvent US sanctions. However, it could be the beginning of nation-backed cryptocurrencies that are tied to commodities, especially for resource-rich countries. Another project called BananaCoin offers tokens that can be bought with Ethereum or Bitcoin and the price is tied to the price of 1 kilogram of bananas on the international market.
In a commodity-backed spin on crowdfunding, tokenholders would indirectly be supporting an organic banana farm in Laos that plans to export to China, where bananas are in high demand. They will work with the ALA on a book project involving case studies of how blockchain is affecting libraries and what they project will be accomplished in the future.
Blockchain could have multiple applications in the publishing industry, from breaking into the industry to rights management to piracy.
Currently, the industry is controlled by a small group of publishers, which makes it difficult for new and unrecognized writers to break in. They can work with translators — who are also paid in ATS — to publish their work in multiple languages. Authors own the copyright to their work, so they have the freedom to publish and distribute it elsewhere. Publishers can also use the Authorship platform to discover writers and print their books. The system provides a secure, centralized catalog of all files, which can be easily accessed by teams of writers, editors, and publishers.
PageMajik is in the process of adding blockchain technology to the next version of its workflow system. Fishing is also one of the largest industries in the world using forced labor, according to the Wall Street Journal. Blockchain-based systems could help make the industry more sustainable, eco-friendly, and legally compliant.
Registering types and quantities of fishing nets on a blockchain would allow authorities to track whether boats return to port with the number of nets they left with. Blockchain can also be used to identify and track the fish themselves. In our digital world where image theft is often a two-click process, photographers can have a difficult time getting paid royalties for their work. It gives welfare recipients instant access to their benefits — which are paid in cryptocurrency — through its app.
Recipients can create their own digital jam jars for rent, utilities, etc.
Blockchain could help dramatically reduce the cost of video traffic by decentralizing video encoding, storage, and content distribution. This could disrupt Netflix, YouTube, and other players in the video distribution ecosystem.
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The decentralized network provides cloud video infrastructure — encoding, storage, and distribution — in the form of a peer-to-peer algorithmic market. It runs on a new blockchain where clients spend VideoCoins to rent these services. Livepeer is another decentralized network that allows users to share live video directly with their peers. Users can earn Livepeer Tokens by performing video transcoding. Online gaming continues to see expansive growth and is now considered a competitive sport, with coveted titles to win, major cash prizes, and even a black market.
Through blockchain, digital tokens can be securely exchanged for cryptocurrency without third-party investment. This means they can earn rewards more quickly, then exchange them through one decentralized source. These opportunities are already popping up. As a decentralized ledger that records, stores, and tracks data, blockchain provides a way to monitor the food supply chain and trace contamination issues to their root.
So long as each party agrees, blockchain serves as an accountability platform that can help cut down on food recalls, mislabeled products, and confusion over where an issue arose.
Members can scan a QR code on a batch or bottle of wine to trace it from vine to glass. Think of the data that goes into booking a flight: names, birthdays, credit card numbers, immigration details, destinations, and sometimes even hotel or rental car information, depending on how flights are booked. Transforming a material ticket into a digital token provides a new layer of security. Using a smart contract as part of the ticket token can help airlines control the sale and use of tickets to provide verified experiences for customers.
It can also be used to create more accurate logs of aircraft maintenance, prevent overbooking, and more. Singapore Airlines recently started using KrisPay, a digital wallet built on a blockchain that securely turns miles into cryptocurrency that can be used with merchant partners.
This program rewards frequent fliers instantly and lets them securely use their points on a variety of purchases, not just additional flights.
In agriculture, a blockchain record establishes a level of trust between merchants who otherwise might not have experience with one another. It allows the market to expand and encourages healthy competition between sellers.
One company, AgriDigital, is already using blockchain technology to digitize the buying, selling, and storing of grain, with plans to add other commodities. It makes managing relationships, from farmers to stock traders, centralized and secure. Decentralization makes gambling more universally accessible and reliably balances costs for online casinos. Plus, it enables anonymity, which is important for many gamblers.
Sites that require too much documentation and verification hinder people from playing, and could be seen as good targets for hackers.
For instance, research can be published earlier, without scientists worrying about their intellectual property. Blockchain can also enforce safer drug production. If errors are made, they can be caught and traced to the source. The Blockchain in Transit Alliance BiTA has already been formed to develop industry standards and educate its network of members.
It can help track contamination in food, for example, by tracking a truck that carries ingredients and noting if safe storage conditions were maintained during any delays. But for a decentralized ledger to work in this industry, there needs to be buy-in from every side: small and large businesses, last-mile shippers, and mega trucking companies.
Many companies are popping up to incentivize recycling. The Plastic Bank offers money or digital tokens in exchange for used plastic, and is working with IBM to expand its recycling solution globally. Recereum is a more localized platform that allows communities to reward people who properly sort their recycling with coins. After legalization of marijuana in Canada, and growing support for legalization across the US, the cannabis industry is reaping big investments in tech and research.
Blockchain technology could provide a record of product movement from farm to dispensary, helping to boost safety and regulatory compliance. Beyond supply chains, Mile High Labs is also interested in using the ledger technology for regulation and compliance. IBM has also proposed blockchain technology as a way for governments to control the source and sale of cannabis.
As the banking industry continues to adapt to cryptocurrencies and blockchain technology, accountants are beginning to follow suit. Layering in blockchain technology could make it easier to keep track of this sensitive data as it is processed by accounting firms. Data tracking enabled by blockchain technology may also help to automate certain accounting services using AI, which could reduce human error and instances of fraud.
Construction is a highly regulated industry which employs a wide variety of tradespeople for often complex projects. Even the US Postal Service is looking into implementing blockchain to improve operations and service. Financial institutions also have to contend with adversarial nation-state groups.