What do we do with Blockchain?
What can blockchain do for me?
Blockchain provides mainly immutability for information records shared between different actors. In addition we have auditability on the information, as well as security, due to the fact that the network is decentralized. As a consequence, Blockchain networks offer trust without the dependency on a third party
Areas of expertise
Traceability applied to this sector is a problem that can be solved by applying Blockchain to record actions at all points of the supply chain that affect certain products or food. Checking the origin and traceability of a product generates confidence in the face of the final consumer, who is increasingly aware of the origin and quality of what they buy
This sector has many problems that affect record storage and certification that certain events have occurred and cannot be changed. Examples of this could be the following:
- - Signing of contracts between individuals
- - Transfer of shares within a company
- - Minutes generated in a company's board of directors
- - A judgment of a judge.
- - Notifications to individuals.
- - Processing of files.
- - A title to property.
- - Voting and results.
Blockchain is a technology that facilitates secure transaction networks without intermediaries. The financial sector has been the first to be impacted by the application of crypto-currency. Blockchain will completely commoditize the means of payment. In the medium term no fees will be charged for payment or exchange. Some of the available use cases:
- - Real time transactions without intermediaries and with low cost.
- - Financial products based on stable coins; loans, deposits; (DAI, Compound)
- - Implementation of secure multi-signature escrows.
- - Wallet custody.
- - Tokenization of real assets to provide liquidity/cash flow to markets.
- - Management of investment mechanisms in Crypto markets
Due to the great impact on the financial sector and the integration with new generation fintech applications, the next sector in the market is insurance. Currently native Blockchain insurance companies are being generated such as:
- - Nexus mutual
- - Etherisc
- - CDx
This sector has a similar applicability to the food sector. The problems that are solved with this technology are focused on the traceability of processes or goods
An example would be the aggregate traceability of automotive parts.
Additionally, the immutable shared register between process chains of different companies, or companies that are under the same group, makes that the integration frictions are reduced and provides a safe and reliable global vision of processes
There are different Blockchain projects that can be easily integrated with sensor solutions (IoT) to work together in plants that already work with intelligent systems; MES evolution or what is commonly called 'Industry 4.0'. This reduces the human error that may occur when entering data into the system