Blockchain technology. It’s only good for trading cryptocurrency, right? Actually, it can do more than you might think.
It is actually possible to put identity documents on the blockchain. Blockchain technology allows people to exercise agency over their own information. In traditional systems, people do not have control over their own information, or know how it is being distributed.
This also allows those without access to traditional ID systems to have formal proof of ID. Many people in developing countries do not have access to identity systems, or cannot afford to get identity documents. According to the World Bank, around one billion people worldwide cannot prove their identities.
Blockchain ID would allow for anybody to have a form of ID, no matter what, as long as they had access to a computer or phone. This also helps to discourage fraud.
Fuel tracking and management systems are out there. Many of them require new hardware. But what if blockchain could make it easy?
Fleet management and mining companies struggle with fuel fraud and accurate fuel reporting. Blockchain provides a decentralised method of tracking, accumulating fuel card data and bowser data into one central place. At Blockhead, we’ll be launching something fuel-related soon, so stay tuned.
Real estate and blockchain. They don’t exactly seem like they should go together.
Yet blockchain technology could provide the biggest opportunity for real estate in a long time. As Deloitte outlines, blockchain technology can provide:
- Improved property search
- Pre-lease due diligence through ‘smart identities’
- Smart contract lease agreements
- Automated payments
- Real-time data analysis
This is because blockchain is, ultimately, permanent and decentralised – making it perfect for securing data in real estate and allowing for comprehensive auditing of new leasers or buyers. Real estate communication inherently requires a strong degree of trust, evaluation and detail. Blockchain makes this process significantly easier.
Blockchain and healthcare are, again, not something that we might think go together – but in fact, blockchain technology is ideal for the healthcare sector.
A myriad of opportunities exist, including:
- Analysing and evaluating clinical data
- Tracking patients’ health through wearable technology and blockchain
- Can be combined with other technology such as AI and data automation to create secure forecasting
Blockchain could bring on-demand care into the healthcare industry and allow patients’ health to be tracked instantly when they cannot communicate themselves.