Blockchain Use Cases and Applications by Industry
Blockchain Use Cases and Applications by Industry
Major sectors are presently deploying Ethereum blockchain solutions to address recurrent industry problems. ConsenSys has built industry solutions for capital markets, asset management, payments, global trade, and more.
The management of tangible, intangible, and complex assets is rapidly becoming more efficient with the integration of blockchain technology.
Assets such as real estate – often constricted by liquidity and investment size – can be tokenized, divided, and distributed with minimal operational friction, management cost, and security concerns. Asset managers and novel investors alike can unlock opportunities with emerging liquidity and transfer dynamics.
In recent decades, capital market infrastructure has been subjected to complicated layers of rules, red tape, and liability. The associated risk incurs high operational costs, and hinders companies by hurting the bottom line and potential customers by raising the bar of entry. Blockchain technology can optimize the backend cost of operations through a secure, permissioned, immutable, and single shared source of truth among capital market stakeholders.
DeFi for Institutions and Crypto Enterprises
Decentralized finance (DeFi) unlocks untold amounts of economic opportunity for financial institutions, crypto enterprises, exchanges, and funds. They seek to engage and capitalize on opportunities created by this new economic system. ConsenSys offers several software solutions to facilitate entry and participation in DeFi.
Global Trade and Commerce
The impact of blockchain technology on international trade finance has spurred many companies and consortiums to update their outdated technology. Major trading companies around the world are recognizing the transformative impact of Ethereum blockchain technology in operating global supply chains, managing trade finance, and unlocking new business models. Beyond ushering in the era of digitization, blockchain enables the tokenization of existing documents, letters of credit, and more.
Payments and Money
Blockchain technology enables entirely new ways of managing money and facilitating payments with ease. From remittances to microloans and more, blockchain technology is ushering in a more efficient and secure global payment infrastructure. Trillions of dollars in untapped value is waiting to be unlocked through financial empowerment and operational efficiency.
Leverage blockchain to unlock the opportunities created by real estate digital assets. Work with ConsenSys to forge new business models, enhance the underlying operations of real estate, reduce costs, minimize data silos and increase transparency.
How Does Blockchain Benefit Enterprises Across Industries?
Leading financial institutions, governments, and conglomerates are already seeing the benefits of blockchain-based solutions for use cases as wide-ranging as digital asset creation and post-trade settlement. The Ethereum blockchain’s battle-tested architecture and unrivaled programmability enables enterprises to build secure and customizable business networks and applications at scale.
- Automatic execution. Streamline business processes through programmable transactions and real-time clearing and settlement.
- Advanced security. Mitigate risk with tamper-proof data coordination and granular security controls.
- Trusted business networks. Quickly deploy permissioned networks with shared business logic and customizable governance.
- Digital asset management. Rapidly create and manage digital assets and instruments.
- Production grade. Manage a compliant blockchain platform at scale with zero downtime.
What are the Use Cases and Applications of Blockchain Technology?
Blockchain technology’s innovative characteristics include decentralization, transparency, immutability, and automation. These elements can be applied to various industries, creating a multitude of use cases. Here are some of the most pertinent blockchain use cases:
Capital MarketsBlockchain technology has fundamentally changed the way financial institutions are exchanging value and building market infrastructure. Here’s a closer look at how this new technology is transforming capital markets and the specific benefits for a wide range of market participants.
Central Bank Digital Currencies CBDCCBDCs offer 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)Millions across the globe are using the Ethereum blockchain to build and participate in a new economic system that is setting new standards for financial access, opportunity, and trust. Here’s your complete guide to the exciting new world of DeFi.
Digital IdentityA 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 ensures protection against theft, assures companies storing customer information, and provides individuals greater sovereignty over their data.
Energy and SustainabilityOil and gas companies suffer from siloed infrastructures and several issues concerning transparency, efficiency, and optimization. Enterprise-grade blockchain solutions can significantly increase process efficiencies and reduce costs associated with oil and gas operations and distribution.
FinanceFinancial 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.
Real-World Blockchain Case Studies
Now that you've explored the most important use cases and industry applications of Ethereum blockchain technology, read our real-world case studies.