5 Noteworthy Examples Of Using Blockchain
Blockchain technology has recently celebrated its 10th anniversary. Perhaps even Satoshi Nakamoto didn't fully realize how significant the blockchain revolution would be. Yet, the last few years have shown the universality of the technology he introduced in 2008. It's true that not all businesses need blockchain, but it is indispensable in many areas. Today we won't talk about the financial sector and cryptocurrency. We are going to take a look at interesting examples of using blockchain. All of them are created to make data storage transparent and reliable.
Remarkable cases of blockchain implementation
De Beers diamond supplies
100 years ago, it was De Beers that set a trend for diamonds. So it's not surprising that it was the first jewelry company that started using blockchain to track supplies of the gemstones. In order to demonstrate the pilot project called Tracr, the hundred of high-quality diamonds was tracked from their mines to retailers.
De Beers presented the project in 2018. The jewelry company Kimberley Diamond that uses blockchain for diamond certification, the Hong Kong retailer Chow Tai Fook, and the Russian group of diamond mining companies Alrosa followed this example later.
Everledger and wine tracking
Everledger is a global solution provider and a specialist in blockchain technology. One of its projects is Chai Wine Vault. It was launched jointly with the well-known sommelier Maureen Downey to track the origin of expensive wines. The blockchain-based project is used to prevent counterfeit wine trading, which currency amounts to 20% of the whole alcohol industry.
By the way, Everledger is also known as a developer of a blockchain system for tracking diamonds. It was developed in 2017 and received the name of Diamond Time-Lapse. The platform already contains information on more than two million diamonds.
Singapore Airlines crypto wallet
Singapore Airlines decided to use blockchain to encourage loyal customers. The company has created the KrisPay cryptocurrency wallet that allows to accumulate bonus miles and use them as crypto money to pay for services provided by airline partners. This is a convenient alternative for those who fly a lot but don't want to use accumulated miles at the airport. KrisPay is available as a mobile application for iOS and Android.
DHL, Accenture and Pharmaceuticals
The large consulting company Accenture together with DHL have developed a blockchain platform to prevent fraud in the pharmaceutical industry. Blockchain works on the proof-of-concept principle and is used to register and track the supply of drugs. This is not the only project by Accenture. The company has taken a full advantage of the blockchain revolution and implemented blockchain into logistics, aviation and IT industries.
Mine rocks on the BHP Billiton blockchain
The BHP Billiton company, one of the mining industry leaders, transferred the registration of mineral data to blockchain. The company uses the Ethereum platform to record information about mined minerals and track their further movement. Previously, this information was processed manually. Using blockchain allowed to optimize workflows and strengthen control over logistics processes. The project is named BlockApps.