Before Reading This Newsletter…
In this article, which is an extension of Blockchain Use Cases (Part #1) and now we are going to dig further into Blockchain and try to understand what are the actual use-cases of Blockchain in various business verticals.
Before reading this newsletter, I would suggest you first read the below articles (if you have not already), added a while ago in Amit Unboxed -
Few Project Use Cases I Have Been Working On and Connected With
Manage Civil Identity On Blockchain
Blockchain for Government. This project grants a digital, decentralized, sovereign identity to each of its citizens. This identity enables citizens to partake in government-related activities like getting verified by city officials, casting votes, and accessing government services.
Bringing Commodity Trade Finance On Blockchain
Blockchain for Commodity Trade Finance. This project is a blockchain-based open platform optimizing financing processes and accelerating industry operations with digitized transactions and a trusted source of documents to reduce fraud.
The project acts as a single source of truth, allowing traders, carriers, banks, and other authorized participants to securely transact in a highly efficient, digitized way, resulting in industry-wide simplification of operations and standardized documentation.
Credential Management For Government And Enterprise
Security and identity are complex and ever-evolving issues for enterprise and government systems alike. Blockchain-based solutions are providing exceptional utility in solving issues of identity and digital systems.
This project provides a private, enterprise chain developed specifically for the government. It features the ability to assign different levels of access to authorized users, ensuring independent validation of transactions and operations that establish full security and accountability while complying with relevant privacy standards.
The project enables citizens, residents, and businesses to participate and manage their data, creating a secure system that will streamline government-citizen interaction, while securing information against hacking and fraud.
Bringing Healthcare And Life Sciences To Blockchain
Blockchain technology can help healthcare experts and the overall healthcare industry to improve performance, patient data transparency, tracking, and accountability, as well as reduce costs. This project is a combination of various products/solutions is tailored to address various healthcare applications, including the following:
Secure management of electronic health records (EHRs)
Patient consent management
Drug traceability
Data security in clinical trials
Incentivization through micropayments
Real Estate Tokenization On Blockchain
This POC (Proof of Concept) project demonstrates the ability of blockchain technology to increase transparency and cut costs in real estate.
The project entailed the creation of a digital token representing ownership of a specific property. Owners are able to decide the number of tokens or shares of a virtual property, and the offer price.
“ABC tokens” (name changed) will be generated on the blockchain representing shares of a property and will be used throughout the lifecycle of that property. The process takes 8 steps:
1. Property owners request ABC Tokens that represent their real-world asset ownership. The tokens are a digital twin of the traditional title deed, including similar data of ownership, etc.
2. Property owners log in via a digital wallet, e.g. MetaMask account (a bridge to the Ethereum blockchain), and verify their identity.
3. This verification process prompts Admin to then transfer the ABC Token to the user’s appointed wallet.
4. Property owners at this point are able to create security tokens linked to their ABC Token on the platform.
5. The owners can decide the number of security tokens or fractionalization, the price of the tokens, the total offering amount, and other specifications.
6. With these details finalized, owners are then able to launch, manage and trade their security tokens digital marketplace
7. Registered users of the application can:
Manage their property portfolios
View available security token offerings
Access asset data
Engage in asset trading
8. Regulators have access to view high-level token data including real-time pricing and capitalization, as well as all ongoing on-chain activities, including when trades take place.
Media & Entertainment On Blockchain
Peer-to-peer sales and content distribution
Streamlined royalty payments
Usage-based billing models
Real Estate Investment Management On Blockchain
The client wants to promote trust, transparency, and efficiency for real estate investors by tokenizing ownership of their luxury hotel chain.
With asset tokenization, the client aims to enable greater participation in real estate investment by decreasing the costs associated with investor registration, investor onboarding, and subscription operation. The long-term vision is to reduce minimum investor subscription amounts from USD 100,000 to USD 1. With the reduced costs and increased digital functionality of blockchain, the client seeks to attract a wider and more diverse pool of investors to real estate asset investments.
To efficiently manage investment in the hotel building in compliance with regulatory requirements, clients needed to control who could invest, and define the shares owned and transaction rules.
In contrast to the traditional approach of managing compliance requirements, investor eligibility and share issuance as dissociated manual processes, the project uses smart contracts to describe the real estate asset, define its compliance requirements, validate the investor Know-Your-Customer (KYC) profile, and issue corresponding fund shares to each verified investor.
The usual burden on clients to research investors’ eligibility and risk profile was alleviated by inviting potential investors to create accounts, fill in a KYC compliance form and upload all required documents to the platform. These documents were then processed off the Ethereum chain by the client, the issuer. Those eligible to purchase tokens to invest in the fund were then whitelisted, validating their credentials within the platform.
Leveraging the precision and automation capabilities of Ethereum, the solution allowed eligible investors to define the nature and number of shares they would purchase, make the payment via wire transfer and receive the shares upon payment validation. Behind the scenes, this involved the issuer authorizing the transfer of tokens to whitelisted investors through a certificate signed using its private key.
Upon completion, investors received a receipt of the sale detailing its characteristics (i.e. issuers, investors, number of tokens bought), and a link to the transaction on the Ethereum blockchain.
Blockchain Use Cases in Sports and eSports?
Develop blockchain-based identities that give users benefits in exchange for providing insightful and actionable data to organizations.
Incentivization and rewards for fan interactions – create better cross-partner loyalty programs that motivate fans to perform certain actions or buy certain goods.
Verification of memorabilia authenticity to reduce fraud and counterfeit items.
Design and production of the next generation of collectibles using the digital infrastructure.
Creation of markets for gaming collectibles (i.e skins) trading as well as improvement in the tradeability of digital goods, skins, and in-game items.
Capability for athletes to fund their own training in exchange for future income, loyalty programs, or other rewards.
Tokenized sports or esports teams increase the liquidity of sports teams by enabling more investors to purchase shares or parts of organizations.
Track Carbon Credits On Blockchain
In corporate carbon trading, blockchain technology can record and transfer information flow reliability, realize point-to-point transactions between suppliers and demanders to achieve “decentralization”, and help to reduce the entry threshold for the carbon trading market.
This project makes use of tokenization techniques to track and manage the carbon credits.
If you want to share anything or have any suggestions/questions, please leave them in the comments!
That’s it for today :-)
I hope each of you has a great start to your day. I’ll talk to everyone tomorrow.
— Amit
If you are not a subscriber of Amit Unboxed, join 4,000+ others who read my personal writings & opinions about tech, startups, humans, blockchain & crypto each morning.
Amit Unboxed Supporters
These companies/people make this newsletter and podcast possible, so go check them out and thank them for their support!
Pineapple Group - A Web3 company focused on tech product development. They also provide end-to-end techno-functional consultancy for startups.
Glasban - Your technology growth partner providing software development from conception to delivery - helping you to simplify, strengthen and transform your business.
Versatalia Labs - A next-gen technology product development company working in Computer Vision, AI, ML, Advance Analytics and Blockchain.
Team Dhanashree - Renowned public figure - actor, dancer, choreographer, model and creative movement therapist. She is my inspiration and motivation too :-)
I am a technology enthusiast, entrepreneur & creative thinker, who enjoys crafting Tech Products to make a real difference.
Follow me to find what’s more in the bucket:
Pingocard | Twitter | LinkedIn | Instagram | Facebook
You are receiving this interesting content because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren’t finding this valuable.
Please note that all the content in this newsletter is only for educational purposes. You are advised to do your own research!