Case Studies of Blockchain Technology | Blockchain Developments USA

2. Discussion Points What is Case Study? What is Blockchain Case Study? Supply Chain Politics Decentralized Currency Financial Technology Healthcare Technology Identity Infrastructures

3. What is a Case Study? In the social sciences and life sciences, a case study is a research method involving an up-close, in-depth, and detailed examination of a subject of study, as well as its related contextual conditions. Case studies can be produced by following a formal research method.

4. What is BlockchainCase Study? Blockchain case studies. Blockchain has the potential to be a disruptive technology across industries, with varying impacts on finance.There are a range of different ways blockchain technologies can be used to generate business benefits, such as improved visibility and near real-time reporting. Presentations are communication tools that can be used as demonstrations, lectures, speeches,reports, and more. Most of the time, they’re presented before an audience.

5. Our Case Studies 3 2 1 Decentralized Currency Supply Chain Politics 5 4 6 Healthcare Technology Financial Technology Identity Infrastructures

6. Supply Chain Problem The supply chain industry has become much more complex. The amount of time taken for a payment between a customer and a vendor, or a manufacturer and a supplier is notably long and tedious. The products once received, are extremely hard to trace back to its supplier which in turn makes it difficult to eliminate defects in food products, consumer goods, industrial equipment or digital offerings. The friction in this supply chain is a major problem since there are a lot of middlemen and this vast chain increases the uncertainty and stops the chain from working as desired. A chain that is just a list of simple transactions turns into a lengthy procedure involving a high number of steps.

7. Supply Chain Solution The blockchain technology is the answer to the number of problems that are listed above. Due to the distribution of the data on the blockchain, it is highly impossible to breach that. The digital ledger is secure because each transaction is linked back to the previous one, making tampering an impossible task. The multiple copies of the same ledger provide the truth for the each and every transactions. The status of the product at each stage of production can be recorded and traced back using blockchain. The tracing would link each product to its initial source and all the middlemen it comes across. It is a software program that carries out the contract and is stored on the blockchain. It will work the way it has been programmed leaving no room for fraud or interference. Blockchain has the power to change the whole supply chain, industries and ecosystems by tracking deadline, avoiding costly delays and the handling of manual paperwork.

8. Problems in Political Systems Elections. Democracies. Politics. It is an open secret that our political systems are imperfect. In fact, one wouldn’t hesitate to call them broken. The current system seems more and more dysfunctional and ineffective as the days pass because of the information that we receive from different sources. With the increasing news of manipulations by the official authorities, in the process of counting votes or passing a law, the trust in the government has reached new lows in the recent times. The recent sessions of the governments in all the leading democracies have been amongst the least productive ones. Certain news about the foreign and non-state actors with real power affecting the elections has shaken the pillars of trust the citizens had in the prevailing system of politics. Majority of the people from all over the world are expressing their dissatisfaction and concern over the direction in which all the democracies are headed.

9. Solution via Blockchain Blockchain technology gives us a viable solution here. With its decentralized, selective and impenetrable storage of data, it also provides a perfect ledger to track the information. With this feature, blockchain has the ability to replace anything where the humans are prone to make mistakes and this is where the governments come to mind. Voting could go digital with no scope of manipulation by any official authorities or foreign agents involved. All would be able to vote online, and it would be put on the blockchain ledgers on each computer in the blockchain. The irreversibility of the transactions would make the votes permanent without any possibility of changing them once cast. Even the election results would be stored on nodes which are distributed over the network which would make it theoretically impossible to temper. This could be used as a standard all over the world for corruption-free elections and in turn, reduce the cost of monitoring the elections.

10. Decentralized Currency Problem The money that we use today is in a centralized system. A centralized currency is the one that is controlled by a central authority. A central authority that can change rules as per their convenience and as they see fit. They could print money as per their need and can have an individual’s account frozen if they wish. The financial and banking systems which issue the currencies have been there for a long, long time and slowly the problems of human nature crept in greed and irresponsibility. There is always a chance of someone creating a counterfeit when it comes to centralized currency. Centralized money can always be manipulated in a way to control the ones in power, to the extent of locking an account or taking away the money if an individual does not behave as per the authority in command of the currency. The centralized currency would work seamlessly if it is managed by people who have good intentions and a clean conscience.

11. Decentralized Currency Solution The above makes us realize that there is a need for a decentralized currency. A currency that is controlled by people and nobody can access someone else’s currency without the holder’s permission. Bitcoin was the first of many blockchain applications to create decentralized currency. It made the idea that transactions could be processed with no need of a middle-party possible. And, it exponentially grew the security, speed, transparency, and permanency of information transfer a possibility. A user of Bitcoin is never forced to use a centralized service. Bitcoin allows its users to withdraw into the neutral field of decentralized banking at any time. The way to judge the legitimacy of centralization is always the ability of users to opt out which is provided by Bitcoin. This is the difference that the world will possibly soon embrace. It will realize the need to turn towards and decentralized currency systems.

12. Financial Technology Problem FinTech could be defined as an industry of technology that is or could be applied to the financial world. It is the technology that will help the companies manage their financial aspects including the business processes and models. FinTech is not new. It has been there for a decade now, acting as the basis for end-to-end processing of the financial transactions. Currently, FinTech uses the Internet via cloud services and stores the all the important information on the servers which are prone to a data breach. The details of a user are held with the bank and an individual has no control over the security of their own information. Authentication methods and secured transmission are the major issues faced by FinTech at the moment. Ensuring the authenticity and identity of the person signing the documents, supervisory controls on the financial markets, transaction control, insurance claiming processes, etc. are some of the issues created due to the oversight of the Financial industry.

13. Financial Technology Solution This is where blockchain comes in to solve all these problems. With the application of blockchain in FinTech, all the data available will be decentralized. All the transactions taking place will be authorized by the miners, making it immutable and unhackable. With the help of the public ledger, all the transactions recorded will be on the chain and validate each and every other transaction, making it reliable and secure. The blockchain technology will discard any third party trying to get a hold of the data and make it a peer-to-peer transaction, giving everyone complete control over their data security. The transparency that an irreversible ledger provides would make financial operations smooth-running. Moreover, the ability to create smart contracts would significantly decrease the possibility of defaulting on payments. This way blockchain would reinvent the way FinTech industry operates making it more secure and stable than before.

14. Healthcare Technology Problem The underlying essence of every business has always been the need to bring a revolutionary change in the lifestyles of human beings. In the field of healthcare, it is no different. In fact, the need to bring an evolutionary change is urgent in the field. High-quality drugs coupled with immediate care and relief is what all the healthcare facilities are looking to provide to all their patrons. Each facility is focused on delivering high-quality care to the clients. But here, in the field of medicine, there is a major flaw when it comes to fulfilling that goal. The providers and payers are the ones who have the authority over the decision making that leads to care-service delivery and the related data. The middlemen dependency on the federal regulations is making it difficult for the healthcare service providers to give patients’ health a top priority.

15. Healthcare Technology Solution This is where blockchain comes into the picture. Using blockchain, you can keep track of all the systems operating under this network because of the distributed ledger. Through this, alteration of records will be impossible and the community will be controlling the data themselves, updating and amending as per their requirement. For a perfect healthcare IT experience, you need the scalability according to the need, disaster reimbursement, data encryption, cryptography technologies and built-in fault immunity which could all be possible with the usage of blockchain technology. Managing the medical data of a medicine as well as that of a patient becomes easier, secure and affordable. Due to the blockchain technology, the patient will himself be in charge of the data and can control who can change or update it. The process of billing and claim management would provide greater auditability and traceability. In the field of medical research, the blockchain would bring a paradigm shift since the storage of timestamp is a major requirement. This way, blockchain would pave the way for enhanced health and timely interception of diseases.

16. Identity Infrastructures Problem The problem of identity theft is an exceedingly common occurrence in countries that have a centralized system for storing identity information of their citizens. The lack of control over people’s own identities has been one of the major issue faced by the governments around the world today. The identity badges, driving licences, social security numbers, bank account details, etc. seem to be hackable and/or replicable. The incidents of data breach are increasing day by day leading to the increase in the data needed for verifying the identity of an individual. The data connected to a person has expanded due to the numerous apps and services available on the web apart from the data needs of banks and government. Today, the personal information is highly susceptible to data breach due to the storage in a centralized database and a solution is needed.

17. Identity Infrastructures Solution The demand for a secure system is the need of the hour. With the advancements in the field of blockchain technology, the word ‘privacy’ might actually mean something apart from just being in a dictionary. Using blockchain technology, you can leverage the irreversibility of information incidents to make permanent records of identity verification that are not stored in any cloud. It will provide a better solution than the current situation where the data is stored on a centralized server and is “owned” by various service providers. Data stored on blockchain will get distributed over the vast network of the mining devices, granting ownership to the individuals. With the usage of public-key cryptography and the decentralization offered by blockchain, the difficulty level of cracking the chain will reach a new high and even the combined power of supercomputers will fail to breach the data of individuals. Now, every user can gain control over their digital identity with quick and secure validation without a centralized authority and make privacy a standard.

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