Blockchain Benefits by Industry
Government - Blockchain technology has the potential to build trust with citizens by allowing participating parties to see and verify data.
Financial Services - With blockchain, settlements become user-optimised, which will save a significant amount of time and money, for both parties involved, as transactions settle instantly.
Insurance - Blockchain technology will help reduce fraud, as one of technology’s best features is its unique ability to validate authenticty, ownership, and provisioning of goods, as well as the authenticity of documents.
Real Estate - Real estate properties can be tokenized creating a liquid market, plus any two parties can easily operate directly with one another, reducing intermediaries.
Arts - The benefit of blockchain immutability will make difficult to forge, alter or change the provenance of a piece of art once listed on the blockchain. It will also create digital galleries plus liquid markets to trade art pieces.
Supply Chain - The technology promotes trust and transparency in the supply chain. It can create a formal registry to tag products and monitor their course in different points of the supply chain by confirming receipts and automatically releasing payments.