7 Major Blockchain Use Cases Explained by an Expert

  • Mark van Rijmenam, a best-selling author and blockchain blogger, has pointed out seven major use cases for enterprise distributed ledger technology (DLT).
  • Rijmenam wrote that Maersk, BP, Shell, UPS, and other giant multinational firms are currently working on developing blockchain-based systems to help streamline their business processes.

Mark van Rijmenam, an experienced speaker on topics related to artificial intelligence (AI), big data, and distributed ledger technology (DLT), recently published a blog post that mentions seven use cases for enterprise blockchains.

1. TradeLens

The A.P. Moller–Maersk Group, a Denmark-based conglomerate focusing on transport, logistics, and energy sectors, developed its first blockchain proof-of-concept in March of 2017, Rijmenam noted. 

While working in collaboration with the Dutch customs department and US Homeland Security, Maersk explored different ways to remotely access cargo data in order to expedite routine customs procedures.

TradeLens, a blockchain-based global supply chain platform developed by Maersk and IBM, has now grown to include 92 different entities - 20 of which are large ports and several customs authorities, Rijmenam wrote.

Notably, the TradeLens platform has now managed 154 million shipping events and is reportedly expanding at 1 million shipping events every 24 hours. As explained by Rijmenam, who is a Phd candidate at the University of Technology, Sydney, each participant on the TradeLens network operates their own node.

This type of blockchain-enabled supply chain management system “enables participants to cut out as many as five middlemen per transaction”, Rijmenam noted. 

2. British Airways

Another use case for blockchain, developed by British Airways, is for tracking and recording flight arrival and departure information. Key findings from British Airways’ pilot program were that permissioned blockchains require proper governance, and they must adhere to industry standards such as adopting adequate security measures.

As explained by Rijmenam in his blog, “the performance, resilience and scalability of a private blockchain can be a useful tool to improve the air transport industry.”

3. UPS

Other large organizations like UPS are working on a pilot that utilizes DLT to autonomously route shipments via several logistic services - while also completing transactions between stakeholders in a quick and cost-effective manner.

4. Walmart

As covered by CryptoGlobe, giant multinational retail corporation, Walmart, recently announced that by September 2019, all its food item suppliers would be required to upload data to IBM’s proprietary blockchain-based Food Trust platform. The main goal of this initiative is ensure food safety, as Rijmenam also mentioned in his blog.

5. BP And Shell

The co-author of ‘Blockchain: Transforming Your Business and Our World' further noted that giant oil companies such as Shell and British Petroleum (BP) are working together to develop a DLT-based platform for trading commodities.

As most companies aim to achieve by using blockchain, BP and Shell are looking to “reduce the administrative burden” of managing the oil trading process while also “making transactions immutable, verifiable and traceable”, Rijmenam wrote.

6. TravelPort

TravelPort, a UK-based and New York Stock Exchange (NYSE) listed provider of distribution and payment solutions for the travel industry, has partnered with IBM “to more efficiently manage the different tours and activities offered through cruise ports or large hotel chains.”

7. Save The Children

At present, a charity called “Save the Children” is also working on a proof-of-concept for a blockchain-powered “humanitarian passport” which could potentially allow the organization to perform quick background checks on volunteers before deploying them - instead of using the traditional system that currently takes a very long time.

Unknown Fund Investing $75 Million in Bitcoin for the Development of Anonymity

  • Unknown Fund has pledged to donate and invest $75 million in bitcoin to promote the development of anonymity.
  • The fund will prioritize projects that protect personal data, including crypto and blockchain. 

An anonymous organization by the name of the Unknown Fund has pledged to donate and invest $75 million in bitcoin for the further development of privacy-focused projects. 

According to the press release published Nov. 13, Unknown Fund has announced an intention to invest and donate $75 million in BTC to “startups which directly or indirectly support the idea of anonymity.” The release claims the fund will give preference to projects focused on the protection of personal data, tools for anonymity, cryptocurrency and blockchain. 

An anonymous spokesperson for the fund said, 

We are you, we are your sons and daughters, brothers and sisters, friends and colleagues. Our ranks consist of representatives of many countries and nationalities, united by a virtual comradely spirit and the belief that we are fighting for the good of many, and not for the benefit of some. Anonymous is the voice of those who believe in truth, freedom and the right to self-expression.

The release claims the fund is comprised of “ordinary, anonymous people” from different countries who first met through collaborating on the forum 4chan. The group calls the protection of personal data “one of the main challenges for modern man” and claims that data collection has already been used as a powerful tool for manipulation. 

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