Nowadays, it is unlikely that there is still someone who has not yet heard about the blockchain. People who are somehow familiar with this technology, understanding its innovativeness, evaluate it from the point of view for the potential application in various fields of economy.
Along with industry and business processes in which the blockchain looks organic and really endows the previous designs with new useful properties, there are many areas of our life in which the need for decentralization is not yet obvious since the lack of new competitive advantages after the introduction of blockchain technology.
Nevertheless, the situation on the market at the moment is that developers find a justified application of decentralization for solving new tasks.
In this review, we give examples of the most effective use of blockchain technology to achieve the existing goals. Accordingly, if you do not find the material here that is suitable for solving your particular problem, it does not mean that we do not have it. Most likely, our team specialists have already thought about this matter, only they simply did not implement it yet.
Not cryptocurrency alone
The only thing keeping the cryptocurrency from a massive invasion into our life is its uncertain status, which does not allow large, venture investors, to start the game in this market. Nevertheless, crypto-projects are not all about cryptocurrencies. Blockchain and smart contracts find their application in many new areas of business, not associated with tokens.
The urgent problem of any charitable foundation is the collection of funds for the implementation of its activities. And the more philanthropists and patrons of art know about the work of the foundation, the easier it is to help them, therefore, the more successful the work will be. The use of blockchain technology here is truly justified, as it makes donations not only convenient, but also anonymous, if necessary.
What is our life? A game!
Another obvious space to successfully use the blockchain technology is gaming, which already has turned into a business environment. And since we are talking about economics and about commodities, albeit virtual though possessing a certain value, it is difficult to imagine a better tool for managing this system than cryptocurrencies. In turn, the presence of an effective channel for attracting fiat money from the real world at times increases the economic efficiency of any virtual world.
Unclear logistics and reconsideration of values
It would seem that in logistics and asset management, the use of blockchain technology in any scenario will be not needed. However, this opinion is wrong. With a more careful study of the concepts of logistics and assets, decentralization seems to be quite promising. If we accept assets for resources that are expected to bring economic benefits, and logistics for the management of these resources, then it turns out that tokenization (use of digital identifiers) of resources promises a qualitative leap in the issue of managing them and realizing the potential in them.
The ICO revolution can be considered as a happening that already took place. The number of currently existing tokens is estimated in thousands and more of them still appear on the market. One or even several new ICOs are launched daily. The revolution became possible due to the positive response of investors to this tool, much simpler and more convenient than the previous IPO. To date, through ICO financing, both start-ups and successful enterprises raise funds. And, of course, no initial placement of tokens is made without the use of blockchain technology.
Another area in which the use of blockchain technology justifies itself by 100 percent is the distribution of limited resources. It can be anything – from tickets for events to pieces of land. The release and subsequent use of tokens, on the one hand, helps avoid double spending, and on the other hand, provides full control over the revenues.
Loyalty in exchange for tokens
The use of blockchain technology in various kinds of loyalty programs is limited, by and large, only by one’s fantasy. In the simplest form, it can be an incentive token for purchases, participation in promotions, etc. In the future, tokens can be taken in offsetting the price of newly acquired goods or obtaining any bonus services. You can generally create a mobile application for the purchase of goods and services exclusively for tokens, and, at prices lower than in the fiat currency, which in turn will ensure a stable exchange demand for cryptocurrency.
The use of blockchain technology is promising in any sphere related to the expression of will. And the larger and more distributed the group of voters, the more obvious are the advantages of the blockchain. From a technical point of view, the implementation of blockchain-based voting is simple, if not primitive. A voting token is emitted and a smart contract is composed in which the conditions necessary for making a decision are laid down.
Smart contract is better than a simple contract
It is an old dream of the overwhelming majority of representatives of the business community to eliminate the human factor in the observance of conditions of commercial transactions, and smart contracts create the best technological base for this. Even the simplest examples of smart contracts guarantee the inviolability of the fulfillment of the conditions prescribed in them.
For gambling world
In the near future, blockchain will surely be used in the world of excitement. Everything related to the bets, odds and algorithms for calculating winnings in betting on sports, can be implemented via a smart contract and therefore, the conditions will be guaranteed, regardless of the desire or unwillingness of the bookmaker office.