13 Blockchain Non-Financial Use Cases and Business Opportunities

This article will bring you to the list of the blockchain non-financial use cases and business opportunities. Insider Monkey has recently published an interesting article about it. The first time someone thought of a cryptographically-secured chain of blocks was back in 1991. In 2008, someone (or someones, as it is believed a group may have been involved) hiding behind the name of Satoshi Nakamoto implemented the notion into Bitcoin, serving as a public ledger for all transactions. Bitcoin became the first cryptocurrency in the world and the first currency that didn’t need a trusted authority to overlook everything, or even a central server.

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Now without a further ado let’s see what Insider Monkey has investigated for us. We have picked three blockchain non-financial use cases and business opportunities from their list.

The first one is Social networking. Sure, you may feel like we have enough social networks, especially with Facebook leisurely bragging about its 2 billion daily users, but that may not be quite so. The future, many believe, is with decentralized social networks, where user data can’t be stored or controlled by any particular company, thus providing users with a heightened level of privacy. Such social networks are already in the works, such as Datt, or Synereo. The second opportunity is IoT. There are so many Internet of Things devices now, that something needs to be done. There are quite a few IoT sectors that need fixing where blockchain could add value. For instance, one that is logical and easy to tell is the tracking of the location of goods as they are shipped. Another would be, for instance, for health-related devices. The data these devices collect is particularly sensitive, so blockchain would ensure the information stays private and that any data exchange is encrypted. At last, but not least we should checkSupply chain.  Keeping a strict ledger that cannot be altered and cannot be lost of every transaction is perfect for any business that needs to keep track of goods as they move from one supplier to the other. The blockchain can be used to create new entries for every good that comes in on a ship, for instance, and then keep track of where it ends up, how it ends up there and more. There are already several companies using blockchain for their supply management.

For any further useful information, read Insider Monkey’s article about 13 blockchain non-financial use cases and business opportunities.

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