Blockchain Use Cases and Applications by Industry (2024)

For capital markets, blockchain unlocks easier, cheaper, and faster access to capital. It reduces the barriers to issuance and enables peer-to-peer trading, faster and more transparent settlement and clearing, reduced costs, decreased counterparty risks, and streamlined auditing and compliance.

CBDCs are a digital form of central bank money that offers central banks unique advantages at the retail and wholesale levels, including increased financial access for individual customers and a more efficient infrastructure for interbank settlements.

Decentralized finance—DeFi—refers to the shift from traditional, centralized financial systems to peer-to-peer finance enabled by decentralized technologies built on Ethereum. Millions are building and participating in this new economic system that is setting new standards for financial access, opportunity, and trust.

A blockchain-based digital identity system provides a unified, interoperable, and tamper-proof infrastructure with key benefits to enterprises, users, and IoT management systems. The solution protects against theft and provides individuals greater sovereignty over their data.

Oil and gas companies suffer from siloed infrastructures and a lack of transparency, efficiency, and optimization. Enterprise-grade blockchain solutions can significantly increase process efficiencies and reduce costs associated with oil and gas operations and distribution.

Financial services struggle with archaic operational processes, slow payment settlements, limited transparency, and security vulnerabilities. Blockchain enhances the efficient digitization of financial instruments, which increases liquidity, lowers cost of capital, and reduces counterparty risk.

Major trading companies and consortiums are recognizing the transformative impact of blockchain in operating global supply chains, managing trade finance, and unlocking new business models. Consensys’ blockchain products offer secure digitization, enabling the tokenization of existing documents, letters of credit, and more.

Ethereum blockchain technology allows governments to build trust, improve accountability and responsiveness, increase efficiency, reduce costs, and create high-performing government functions with more secure, agile, and cost-effective structures.

Blockchain-based healthcare solutions will enable faster, more efficient, and more secure medical data management and medical supply tracking. This could significantly improve patient care, facilitate the advancement to medical discoveries, and ensure the authenticity of drugs circulating global markets.

Insurance claims are prone to fraud and claim assessments can extend long periods of time. Blockchain can securely streamline data verification, claims processing, and disbursem*nt, reducing processing time significantly.

An institutional-grade blockchain solution can address the estimated 9.8% loss in total productivity that manual operations costs a law firm every year by providing accessibility, transparency, cost savings, speed, efficiency, and data integrity.

Piracy, fraud, and intellectual property theft of digital items cost the entertainment industry an estimated $71 billion annually. Blockchain technology can track the life cycle of any content, which has the potential to protect digital content, and facilitate the distribution of authentic digital collectibles.

Enterprise Ethereum enables the digitization of assets and financial instruments. This enhances fractionalization of ownership, expanded access to global markets, increased liquidity, and democratized access to real estate investment opportunities.

The retail fashion and luxury industry rapidly changes with the demands of consumers. Blockchain stands to address long-standing industry challenges by improving data management tools, enhancing supply chain operations, and reducing the risk of counterfeit and grey markets.

Ethereum enabled smart contracts can streamline existing esports operations, provide new revenue models, and enhance fan engagement with enhanced loyalty programs and incentives.

Existing global supply chains are inefficient, poorly tracked, and oftentimes exploitative. Blockchain can facilitate accurate asset tracking, enhanced licensing of services, products, and software, and transparency into the provenance of consumer goods, from sourcing to the point of consumption.

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