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There are a hell lot of Blockchain Use Cases we can discuss right now but let’s carry them for the future episodes. Here are the three key practical use cases we are going to talk today:
- The first use case we are going to discuss is in Government record keeping.
- The second use case we are going to discuss is in supply chain management.
- The third use case we are going to discuss is in the healthcare industry.
So let’s start with Government record keeping which is applicable to the private businesses as well.
Blockchain can be used efficiently in immutable record keeping, document verification & data validation. So blockchain can record the digest of each of the produced document or data objects on the server side in the Blockchain and later on, allow anyone to verify the integrity of that same document or data object by comparing the digest of the existing document with the recorded digest. If both the digest does not match it means that the current document has been modified or tampered. This can be done with the highest confidence that it has been modified.
You must be thinking this can be easily done with centralized technologies like MySQL etc. But the answer is NO. That’s not practically possible unless you trust the MySQL, database admin. For example, admin can easily modify the document & also modify the recorded digest leading the tampered document accepted as an authentic and unmodified document. But that’s not possible if Blockchain is being used in place of MySQL.
In the same way, Blockchain can be used to verify the Driving license authenticity, land records integrity, etc. on the go.
Let’s talk about the second use case, in the supply chain. So in supply chain management systems, a lot of requirements come to track the inventory of the raw material or the warehouse in such a way that the records are tallied in real time all over the branches or offices. Please note that this must be done without anyone keeping their local copy of the records. This seems to be an easy problem to solve, but it isn’t. Here Blockchain can help by representing the assets as a blockchain assets/token which can be tracked from branch to branch without any extra efforts. The branches need to generate the assets as soon as they purchase the inventory & burn the assets on Blockchain as soon as they are being consumed without updating the other branches. All branches will be automatically updated without any additional steps.
Now for the third use cases, There are two biggest use cases in Health record management. First one is health record keeping where the hospitals can have an immutable centralized yet distributed health record management systems. The second use case will be the test report verification without the use of any trusted third party or hospital staff.
Here the reports digest printed on the report/barcode can be used to match it with whatever is recorded in Blockchain to ensure the authenticity of the reports. Here you don’t have to trust the hospital staff to ensure the reports are authentic. Let’s say if a judge wants to verify a medical report without trusting the hospital staff, this is possible with Blockchain. Because even hospital staff can give you the wrong answers but this technology will not.
That’s it, guys. That’s all for this episode. If you have any comment or want some professional help, please reach out to us on [email protected]
See you all in next episode.