How Blockchain Technology Is Making the planet Better

Blockchain technology might help immensely in banks, insurance, health insurance and pharmaceutical industry, supply chain of many sectors (agribusiness, luxury, international trade, distribution, wines, aeronautics, and automobile), music industry, energy, and real estate. Blockchains have the potential to displace most of the centralized "trusted third parties" including banking trades, notaries, land registry, etc. by distributed computer systems.

1. Medicines / Pharmacy

Blockchain technology may be used to improve drug integrity. If drugs can be clearly identified and tracked from production to consumption, it could save up to 1 million lives each year. Because DHL is already working with Accenture to determine a track-and-trace serialization system predicated on blockchain technology.

"At the moment, you can find already a lot more than 7 billion unique pharmaceutical serial numbers in the system. In addition, the machine can now handle a lot more than 1,500 transactions per second," said Scott Allison, DHL's President, Healthcare.

Allison have not only the capacity of the system in mind. For instance, track-and-trace serialization should keep your charges down, increase security and confidence, and eliminate error-prone data movement. The technology can truly add additional verified information to the element, which cannot be manipulated. The validation is carried out by all participants.

"THE SYSTEM NOT MERELY MEETS THE GLOBAL SERIALIZATION REQUIREMENTS, IT EVEN SURPASSES THEM," Says Allison

2. Fashion / Fashion

The CGS project allows consumers to track the entire lifecycle of a garment. This includes companies from the fashion, apparel and consumer goods sectors to interact. With this particular solution, consumers no longer need to rely blindly on the value in sustainability fashion. Blockchain technology allows tracking of sustainability and conformity of the garment

3. Cross-border payments

In developing and underdeveloped countries, usage of capital for small food producers is often a big problem. Binkabi is really a cross-border agricultural trading platform that's breaking new ground with the aid of a block bridge solution from Sweet bridge. Thus, a system for fair commodity trading is to be developed.

A blockchain banking solution has recently been announced by IBM. This is designed to make international payments faster and more cost-effective.

4. Food safety

In your community of food safety, IBM is working with food manufacturers Dole, Nestlï¿½, and Walmart. Thus, the data of breeders, suppliers, processors, traders, retailers not only to all parties involved but additionally to the supervisory authorities and individuals are available. So every transaction can be traced and all information regarding the food can be looked at. With all members of the meals system having access to the blockchain, contaminated food could be quickly removed from the production and offer chain before it reaches the shelf.

THE PLANET Wildlife Fund (WWF) "tracks" fish and seafood using blockchain technology. In this project, the technology should help in the fight against illegal fishing. However, full traceability of fish and seafood can be of interest to fish wholesalers and fish retailers, because they desire to prevent their products or brands from being associated with illegal activities.

"CONSUMERS ARE ALSO INCREASINGLY SLANDERING FOR FULLY TRACEABLE FISH AND SEAFOOD THAT AREN'T FROM ILLEGAL FISHING," says Bubba Cook, WWF's Western Central Pacific Tuna Program Manager.

5. Humanitarian Crises

Blockchain technology is not just utilized by companies. The United Nations currently uses blockchain technology in 16 areas, including:

ï¿½ World Food Program (Refugee Aid)

ï¿½ Office for the Coordination of Humanitarian Affairs (donor financing, safeguarding, and tabs on supply chains)

In addition, it is becoming investigated how blockchain technology may be used to tackle current problems, such as child trafficking, according to Mahrinah von Schlegel, Managing Director of Nonprofit Embassy 2.0.

As part of the public-private partnership ID2020, Microsoft and Accenture have announced a partnership. The target is to give 1.1 billion people a legal form of identity and identification using blockchain technology.

6. Jewelry

In collaboration with Everledger, the jewelry company Brilliant Earth intends to use blockchain technology to accurately track the origins of diamonds along with other gems. This ensures that only conflict-free stones are processed.

One of the better examples of blockchain technology is Feelium. Feelium supplies a tokenized platform that will allow contractual transactions to become simpler and more secure.The Feelium platform includes a few unique features such as a centralized blockchain platform in lieu of a decentralized platform, private key retrieval, and cloud storage. Feelium aims to be always a one-stop trading platform that can be used by anyone, in B2B and B2C scenarios.