Blockchain in action: 5 interesting examples 

Blockchain in action: 5 interesting examples 

We look at five areas where blockchain projects are showing tangible progress, including supply chain, real estate, and healthcare

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July 02, 2018
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4. Real estate and property law

Price of Devbridge Group points to a fascinating test, conducted by the Cook County, Illinois, Recorder of Deeds, of how blockchain could be used to track and manage property titles.

Among the CCRD’s conclusions in its final report on the project: As in other blockchain applications, there are both significant potential and also some parallel challenges – but the latter may be reasons to continue to press forward with potential wider adoption: 

“Though blockchain can make transacting real estate simpler, safer, more accurate and easier to understand, there are challenges facing its adoption. In many cases, these challenges are the very reasons why such a new structure should be adopted, and thus can also be looked at as opportunities.”

Further reading (curated articles from other websites):

5. Healthcare

From a vertical industry perspective, healthcare is lately approaching the kind of blockchain buzz reserved for financial services. Consider the massive shift to electronic health records as an indicator of what kind of impact blockchain could have in the industry. Again, trust is a significant requirement here.

“In the healthcare industry, blockchain technology is being utilized for medical records by establishing a secure distributed medical records system, strengthening security and privacy,” Schatsky of Deloitte says.

“In healthcare, some of the major topics are repeatable prescriptions, sharing medical records, and payments,” says Marta Piekarska, director of ecosystem at Hyperledger. She points to companies like hashed health or Medicalchain as examples in this category.

As Beth Israel Deaconess Medical Center CIO John Halamka detailed in an HBR article, his colleagues have tested blockchain’s viability to track and handle medication data. 

Further reading (curated articles from other websites):

Learning moments

So, no, as Price says, you probably shouldn’t pursue a blockchain project just because you can. But the real-world examples above indicate that we’re probably not too far from a few “golden egg” moments – applications that show tangible business value, of the sort that drive wider adoption. In the meantime, there’s a lot of opportunity for testing and learning.

Read also: How to tell when moving to blockchain is a bad idea

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