Blockchain, blockchain everywhere – and maybe this is where the road gets racy.
The use cases have been multiplying across any number of private and public use cases. And in the latest edition of the blockchain tracker, the auto industry gets some mileage. Research shows that the transparency and immutability that have become hallmarks of the distributed ledger system have lent themselves well to this vertical. One firm has estimated that the automotive blockchain space will be worth as much as $1.6 billion in just a few years.
Several parts of the supply chain could benefit – and speaking of supply chains, might the process from farm to table also get a boost? The agriculture arena may get a bit of transformation, too, with food safety enhanced through some tracking initiatives.
The blockchain has also gotten some buzz in the financial services realm. In China, one bank has successfully floated a securities issuance. The worth of that offering may impress you – see who and how much here. By the way, the transaction has its own B2B niche, tied to invoicing, which in turn may give a nod to further uses for blockchain, well beyond the traditional linkings with cryptocurrencies.
This week was and is not all about established players, though. What would blockchain be without a startup or two, maybe with a famous name in the mix? Thus, a certain Apple stalwart – no doubt you know who – has touted the potential of the blockchain, with an explanation that “our approach is not like a new currency, or something phony where an event will make it go up in value.”
Beyond some marquee names, some patent news came this past week, too, with an eye on security – in a vertical that could do well to have security in an age of breaches. Click here for the details.