What began as the basis of cryptocurrencies such as Bitcoin, blockchain technology essentially a virtual ledger capable of recording and verifying a high volume of digital transactions is now spreading across a wave of industries.
1. HUMAN RESOURCE - Chronobank is one blockchain project aimed at disrupting the HR/recruitment industry, with a specific focus on improving short-term recruitment for on-demand jobs . The startup aims to use blockchain to make it easier for individuals to find work on the fly and be rewarded for their labor through a decentralized framework via cryptocurrency, without the involvement of traditional financial institutions.
2. BUSINESS AND CORPORATE GOVERNANCE - The benefits of using blockchain for smart contracts and verifiable transactions can also be applied toward making business accounting more transparent. The app provides an administrative system for organizations to ensure smart contracts are executed according to rules encoded on the blockchain . Aragon is going even further, using blockchain to disintermediate the creation and maintenance of companies and other organizational structures. Believing that decentralized organizations can solve the world’s worst problems, Aragon is developing tools to help companies use blockchain to manage their entire global workforce.
3. CREDIT HISTORIES - Lenders minimize the risk posed by loans or lines of credit to small businesses by evaluating their histories using business credit reports. This can make business owners feel like credit bureaus have all the power over loan terms, even though the credit bureau may be assessing outdated or inaccurate information to determine their reports. Lumeno.us normalizes semi-structured financial data using a proprietary application of collaborative tagging and advanced analytics.
4. 3D PRINTING AND MANUFACTURING - 3D printing and additive manufacturing are highly technology-driven processes, whereby the digital files involved can be easily transmitted with the click of a mouse. Using blockchain to support these evolving infrastructures can eliminate security vulnerabilities, protect intellectual property from theft, and streamline project management, ultimately helping the 3D printing and additive manufacturing sectors to grow and scale.
5. CROWDFUNDING - The crowdfunding industry emerged to disintermediate capital formation by giving backers or individual investors the ability to directly fund creators and entrepreneurs, providing a natural alignment with blockchain capabilities. For example, the movie BRAID became the first major feature film to be financed through a token crowdsale on the Ethereum blockchain through its $1.7M campaign on Weifund. Initial Coin Offerings , in which companies sell cryptocurrency-backed tokens in their companies in the same manner as a publicly-traded company sells stock, are another example of blockchain-powered crowdfunding.
6. COMMODITY – BACKED CURRENCY - Some real-world currencies are backed by underlying physical commodities that have intrinsic value, akin to the now-scrapped gold standard.
7. LIBRARIES - December 2017, San José State University’s School of Information received a $100K grant from the Institute of Museum and Library Services to fund a year-long project exploring the potential of blockchain technology for information services. So far, the potential uses for blockchain in libraries include helping libraries expand their services by building an enhanced metadata archive, developing a protocol for supporting community-based collections, and facilitating more effective management of digital rights.
8. PUBLISHING - Blockchain could have multiple applications in the publishing industry, from breaking into the industry to rights management to piracy. Readers can Purchase the books from the platform using Authorship Tokens , an Ethereum-based cryptocurrency, and writers get 90% of royalties in ATS. PageMajik is a workflow management system designed to streamline the publishing process. The system provides a secure, centralized catalog of all files, which can be easily accessed by teams of writers, editors, and publishers.
9. FISHING - Blockchain-based systems could help make the industry more Sustainable, eco-friendly, and legally compliant. Registering types and quantities of fishing nets on a blockchain would allow authorities to track whether boats return to port with the number of nets they left with. Blockchain can also be used to identify and track the fish themselves. In 2018, WWF partnered with ConsenSys and SeaQuest Fiji to implement a blockchain system that verifies where, when, and how tuna fish was caught.
10. PHOTOGRAPHY - In our digital world where image theft is often a two-click process, photographers can have a difficult time getting paid royalties for their work.
At CES 2018, Kodak unveiled its plan to launch its own cryptocurrency, KODAKCoin, to ensure that photographers are paid appropriately for usage. KODAKCoin is backed up by a blockchain ledger and image rights platform called KODAKOne, which allows photographers to securely register new and old work.
Reference : https://www.cbinsights.com/research/industries-disrupted-blockchain/
