How Blockchain Technology Is Making the World Better?

by Waqar A. Business man/SEO Expert

Blockchain technology in banks, insurance, health, and pharmaceutical industry, supply chain of many sectors (agribusiness, luxury, international trade, distribution, alcohol, and automobile), music industry, energy, and real estate Can help Blockchains are capable of transforming most central "trusted third parties", including banking trades, notaries, land registries, etc., through distributed computer systems.

1. Medicine / Pharmacy.

Blockchain technology can be used to improve drug integrity. If the drug can be identified and traced from production to consumption, it could save a million lives each year. Because DHL is already working with Accenture to establish a track and trace serialization system based on blockchain technology.

"Currently, the system already has more than 7 billion unique pharmaceutical serial numbers. In addition, the system can now handle more than 1,500 transactions per second," said Scott Ellison, DHL's president of healthcare. ۔

Allison has not only the potential of the system in mind. For example, track and trace serialization should reduce costs, increase security and reliability, and eliminate erroneous data movement. The technology element may include additional verified information, which cannot  manipulated. All participants do verification.

"The system doesn't just meet the needs of global serialization," says Allison

2. Fashion / Fashion.

The CGS project allows users to track the entire garment lifecycle. It allows companies in the fashion, apparel and consumer goods sectors to work together. With this solution, consumers do not have to turn a blind eye to value in sustainable fashion. Blockchain technology allows for durability and compatibility of clothing.

3. Cross-border payment.

In developing and developing countries, access to capital is often a major issue for small food producers. Bankabi is a cross-border agribusiness platform that is breaking new ground with the help of block bridge solutions from Sweet Bridge. Thus, a system for fair trade is to be developed.

IBM recently announced a blockchain banking solution. It aims to make international payments faster and more cost-effective.

4. Food safety

In the field of food safety, IBM is working with food manufacturers Dole, Nestle and Walmart. Thus, data of breeders, suppliers, processors, traders, and retailers is available to all parties involved and to supervisory authorities and consumers. So every transaction can be traced and all the information about the food can be seen. With access to the blockchain for all members of the food system, contaminated food can be quickly removed from the production and supply chain before it reaches the shelf.

The World Wildlife Fund (WWF) "tracks" fish and seafood using blockchain technology. In this project, technology should help in the fight against illegal fishing. However, full trace of fish and seafood is also of interest to fish wholesalers and fish retailers, as they want to prevent their products or brands from engaging in illegal activities.

"Consumers gossip a lot about completely renewable fish and seafood," says Boba Cook, WWF's Western Central Pacific Tuna Program Manager.

5. Human Crisis.

Companies do not just use blockchain technology. The United Nations currently uses blockchain technology in 16 areas, including:

World Food Program (Refugee Aid)

Office for Humanitarian Affairs

In addition, there are currently investigations into whether blockchain technology can be used to address current issues, such as child trafficking, according to Mehrina Van Schlegel, managing director of the nonprofit Embassy 2.0. ۔

As part of the public-private partnership ID2020, Microsoft and Accenture have announced a partnership. The goal is to legalize the identification and identification of 1.1 billion people using blockchain technology.

6. Jewelry.

In partnership with Everlager, jewelry company Brilliant Earth intends to use blockchain technology to accurately track the authenticity of diamonds and other jewelry. Ensures that only conflict-free stones are dealt with.

Feelium is one of the best examples of blockchain technology. Filim offers a tokenized platform that makes contract transactions easier and more secure. The film platform has unique features such as centralized blockchain, decentralized, private key retrieval, and cloud storage. Filim aims to be a one-stop trading platform that anyone can use in B2B and B2C scenarios.

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About Waqar A. Advanced   Business man/SEO Expert

86 connections, 0 recommendations, 250 honor points.
Joined APSense since, October 30th, 2018, From Adelaide, Australia.

Created on Aug 13th 2021 07:36. Viewed 163 times.


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