Top 10 Blockchain Use Cases To Inspire You

Blockchain is one of the most trending buzzwords in business circles today. But most business decision-makers relate blockchain only with crypto. And if that isn't what they are looking for, they just drop the idea of leveraging blockchain altogether.

Blockchains' potential, however, is not limited to crypto alone. So here are 30+ practical use cases of blockchain to inspire you.

Let's get started. 

What Is Blockchain?

Before we get to blockchain's use cases, let's quickly revisit what blockchain is. It is an immutable and shared ledger that allows recording business transactions and tracking assets (tangible or intangible).

Top 10 Real-life Use Cases Of Blockchain

1. Smart contracts that can be enforced in real-time. Commonly used in healthcare, real estate, and government agencies.

2. Integration with IoT to bolster security and avoid the possibility of data breaches.

3. Lightning-fast money transfers in real-time. There is already widespread adoption of this use case in the BFSI sector as it saves time as well as transaction charges levied by banks/financial institutions. 

4. Personal identity security via self-sovereign identity (SSI). Existing Web 2.0 technologies are unable to deploy SSI to individuals, but with blockchain, individuals can get greater control over their IDs and digital identities. 

5. Use in the logistics and supply chain sector to effectively track inventory across multiple locations. This avoids siloing of information and greater transparency and control.

6. Digital media companies can leverage blockchain for greater security and control over data and intellectual property, This will ensure data privacy compliance, better customer loyalty, and stakeholder satisfaction. 

7. Educational institutions can leverage blockchain to integrate seamless document storage and control systems.

8. The medical fraternity can leverage blockchain technology for data processing. From data security to controlling who alters medical records, the medical implications of blockchain can be potential lifesavers. 

9. The entertainment industry can make the best use of blockchain either for record-keeping or with NFTs, which are again, a niche with booming potential. 

10. Even the real estate sector can use blockchain to maintain records of sales, purchases, and rent in a decentralized ledger. 

While the use cases of blockchain are many, one of the key roadblocks that companies face is finding the right team for foraying into the world of blockchain. The solution is to look for experts in disruptive blockchain technology and engage with them from the ground up.

So now that you have some inspiration to start using blockchain for your business, just partner with the right blockchain experts and get your project off the ground.