Blockchain: 5 concrete (and revolutionary) applications

The blockchain: you have certainly heard of it. Since last year, the technology derived from bitcoin, created in 2009, has burst into the already well-stocked landscape of innovations considered to be the most promising, alongside artificial intelligence and the Internet of Things. However, its applications are still rather vague…

The blockchain (“chain of blocks”, in French) is a technology that makes it possible to store digital data at minimal cost, in a decentralized and secure way.

To see more clearly, we have therefore chosen to present several use cases, representative of the different possibilities offered by this technology. The easiest way to understand the blockchain is indeed to start from concrete examples.

And as a reminder, the blockchain responds to logics similar to those of the Internet. In the same way that we use Google or Facebook today, without necessarily thinking about the underlying “TCP/IP” protocol, tomorrow we will be able to use blockchain-based services without necessarily being aware of using this technology.

Here is what blockchain services would look like:

1- A global platform for almost instantaneous and very low-cost money transfers

Today, the international money transfer market represents more than 400 billion dollars per year. However, nearly 10% of commissions are charged by exchange platforms in certain regions of the globe.

The blockchain is a much cheaper alternative (only a few cents are taken from each transaction) and faster (from a few seconds to 1 hour, against sometimes several days for transfers abroad), via the exchange of cryptocurrencies, convertible into traditional currencies.

The challenge today is to build a simple user experience and gain user trust.

2- A reliable and transparent method making online voting possible

The “Nous Citoyens” party in France recently used blockchain to guarantee the security and transparency of online votes for one of its internal elections. The blockchain indeed offers a secure voting tool whose result, transparent, can be verified by all, and communicated very quickly after the end of the vote.

Neither the vote administrator nor other individuals can modify the vote after the fact. This solution could be particularly interesting for countries or political parties subject to problems of fraud and difficult counting of votes.

3- A way to be automatically compensated in the event of a flight delay

Some services like Etherisc.com develop automated blockchain-based travel insurance systems. Thanks to these services, passengers can be automatically compensated in the event of a flight delay, without having to fill in any forms.

The principle: to use “smart contracts”, that is to say autonomous programs which automatically execute conditions defined in advance, registered on the blockchain. An algorithm then makes the link between the “smart contract” and the real world by connecting to airport databases.

The blockchain here makes it possible to create the confidence necessary to automate the declarative phases, without having to resort to a third party.

4- A technology improving the transparency and efficiency of the music sector

The blockchain could be used to create a global, secure and transparent database of musical copyrights, which is currently lacking despite several attempts by players in the sector. Overall, it could bring transparency to the sometimes opaque value chain of music industry stakeholders.

Another possible use, permitted by “smart contracts”: the (almost) instantaneous payment of royalties to rights holders as soon as a title is broadcast or purchased, in accordance with conditions defined beforehand (x% for the composer, x% for the performer, x% for the label…).

5- A way to fight fake drugs

Today, between 10% and 30% of the medicines supplied in developing countries are “false medicines”, which poses considerable health problems. The World Health Organization thus estimates that 700,000 deaths per year are caused by counterfeit medicines.

The blockchain could serve as a universal database guaranteeing the traceability and authenticity of medicines. It would thus allow pharmaceutical companies, regulators and even individuals to use the same database, without a single company or institution owning it.


To know more :

French Blockchaina reference in blockchain training and support, and Learn Assembly, a specialist in MOOCs and digital pedagogy, have joined forces to design a dedicated corporate MOOC. More info on moocblockchain.com

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Blockchain: 5 concrete (and revolutionary) applications


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