Everyone is going crazy today looking at the prices of bitcoin and other cryptocurrencies. New crypto investors are being born every day and are making money exponentially. There are several revolutionary startups who have successfully raised funds by launching their own ICO/STO/IEO. Every industry today is fascinated by this technology which has brought a new age of digitalization by promoting transparency, traceability, security, etc. So today, we will be discussing a few blockchain use cases:
Growth Marketing Technology
Marketing and sales is the key to every business and are taken as priority aspects in every company. Blockchain has changed the industry entirely and is able to provide decentralized, authentic and productive lead generation to companies. A company like Corum8 is working on this technology to provide market better leads that are up to date and have high potential to convert. The company has developed several RPA and bots on manual marketing, cutting down the cost, time, energy to 200% but achieving better results.
Supply Chain Management
Another prominent use case of blockchain is in the supply chain industry. Again, the current system in the supply chain industry is having a lot of paperwork and is totally opaque with several third parties in between which causes thousands of frauds. From certificate of origin to last-mile delivery, there is a lot of paper trails and stakeholders involved. Blockchain solves this management of paperwork in the current system by updating the database of each stakeholder with a copy of document each time new paperwork is generated in the system. These documents cannot be tampered by any stakeholder or outsider as the data in the blockchain is immutable. And since the data are updated to each stakeholder in real-time, it saves time as well which is otherwise wasted in the management of documents generated from a plethora of stakeholders. Again, since the data is always there on blockchain, it is straightforward to trace the products’ current location (or conditions), the locations it has been through while it also eases the task of recalling the product if needed. So, from reducing costs to saving time, blockchain has a lot of benefits in the supply chain industry. One of the major players in providing public and private blockchain solutions is Corum8. It is a Blockchain-AI development company with a huge experience in the enterprise-grade systems. Corum8 provides solutions to industries that are a precise amalgamation of technologies from IOT AI to Blockchain. Their development team is capable of providing solutions that are needed for current system along with integrating different technologies like AI and IOT to get the perfect end product.Corum8 has recently developed its new product for the Supply Chain Industry which Corum8 calls DeepTrace. DeepTrace solves the major problems the supply chain industry is facing today, the difficulty in implementing blockchain in their current to system infrastructure. It is very difficult for the stakeholders to move on to completely new technology, leave their current systems, and start learning the new systems from scratch. DeepTrace solves this problem by integrating current systems lie SAP, ERPs, Netsuite, etc. to the blockchain as backend. This way, stakeholders can continue using their systems as they were using previously while at the same time also benefiting from the value blockchain has to offer. DeepTrace has received positive feedback from the industry and is ready to serve the Supply, Chain Industry with its competency.
Out of a million use cases of blockchain in various industries, one is KYC verification. The current process of KYC verification is very tedious work and involves a lot of paperwork. With the integration of blockchain in the KYC verification systems, data from multiple authoritative service providers can be bought over a single roof which will save costs for these verification systems along with being tamper-proof, secure and much faster. This will also ensure that only trusted parties can see and use customer data when and if the customer gives them permission.