Blockchain technology applied to the industry is no longer a promise. The base of Bitcoin and other cryptocurrencies have already been adopted by some companies for their novelty to protect data in a transparent and secure way through a decentralized structure. While the biggest limitation of blockchain is scalability, a whole number of innovative and exciting solutions are currently in the works to enable blockchain technology to reach massive levels.
In fact, Bitcoin is a success story of the application of the blockchain for the transfer of assets (cryptocurrencies). But it may apply to other functions, especially the following.
Banks were the first sector to achieve real and concrete gains in the use of blockchain. The application is simple and objective: to guarantee security in transactions of all types, from payments to bank transfers. With no centralized intermediaries involved, banks reduce costs, perform procedures more quickly, and ensure security in data exchange. Dealing with customer information is of extreme responsibility, and the blockchain provides the support that institutions needed. Given this, the fintech managed to take advantage of this technology and grew in the market, competing fiercely with large and traditional financial institutions.
The industry of health care is incredibly complex, composed of many actors along the supply chain of health services. Major drug and medical device manufacturers are using blockchain technology for better access to personal patient data for personalized therapy. They see the technology as a very effective means in terms of traceability (origin and transport), improved quality control, and guarantees against counterfeiting.
Hospitals, physicians, and insurers are collaborating in health-focused blockchain consortia to accelerate the creation of highly secure, easy-to-access portable electronic health records (EHRs). Besides, companies are already using blockchains to seize business opportunities in the area of ??regulatory compliance and clinical trial registrations.
In logistics, the main use of blockchain is to gain agility and productivity. This is a segment that needs to deal with bureaucracy all the time, especially in the dispatch of goods. In practice, decentralization represents the least dependence on people and systems that authorize the sending of goods, which greatly increases the time of the processes.
In the logistics sector, in addition to the need to streamline its operation, there is also a concern with company data. Information on the value of cargo and expenses involved in the payment of freight can lead to fraud attempts and other types of crime. The blockchain guarantees the encryption of this data, maintaining total security of logistical activities.
Blockchain also provides important support to the pharmaceutical industry at different times in the activities of this segment. The main one is, without a doubt, in the integration and alignment of information with doctors, hospitals, and health insurance companies. The exchange of information needs to be secure, agile, and reliable, without the risk of loss of important data.
With the use of this technology, industries are able to communicate with these different elements of the medical field, ensuring the proper distribution of medicines and guaranteeing the integrity of those who will consume the product.
Today, seeing the future of the industry away from blockchain is practically impossible. The technology provides significant gains and that, strategically, are able to optimize different routines and procedures, always with its main base in security.
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