Blockchain & IoT Use Cases Across Industries To Help You Understand Blockchain Better
3 min read
Blockchain is being hailed the “next-big-thing’ that will help in the seamless integration of Artificial Intelligence (AI) and Internet of Things (IoT) devices with the Cloud that computes data. Building these devices on Blockchain will empower the exchange of information, transaction details, personal data and other types of data transfers and analytics between the cloud and IoT devices secure, transparent, immutable, efficient with reduced costs and owned by all (decentralized). According to IDC, 20% of all IoT deployments will enable blockchain based solutions by 2019.
Such a seamless integration presents myriad solutions to current problems plaguing various verticals like Supply Chain and Logistics, Automotive Industry, Smart homes and Pharmacy Industry bringing about innovative transformations in individual industries.
By studying some of the use-cases floating about for Blockchain integrated IoT systems it is possible to see the extent of the transformational ability of these revolutionizing technologies.
- Supply chain & logistics – A global supply chain involves multiple locations and many stakeholders – manufacturers, suppliers, packaging, and shipment. Through the supply chain, the product moves around with every value addition leaving a trail of purchase invoices and payments. Because of the large scale nature of the supply chain and its involved logistics, delays in deliveries are a common problem. With IoT enabled vehicles, tracking the movement from one stakeholder to another becomes convenient. By including the cloud of IoT ecosystem on Blockchain, the data – purchase invoices and payments become traceable and reliable, real-time vehicle tracking with IoT sensors give crisp details about the exact location of the shipments, having them on a blockchain network make the data transparent to all involved and builds trust.
- Automotive industry – Automotive industry is at the forefront of adopting IoT ecosystems. IoT in the automotive industry has enabled driverless cars, smart cars with diagnostic modules that enable to read vehicles impending failure. Combining blockchain and IoT helps resolve macro-level issues with vehicular movement and can disrupt automated fuel payment, autonomous cars, smart parking, and automated traffic control. IoT sensors on Blockchain can help resolve parking issues, by sharing vacant spots data shared through IoT sensors and assessed through a secure Blockchain network. Even payments can be made in a similar fashion.
- Smart Homes – IoT devices are enabling home security systems to be managed remotely through a smartphone. But there is a hitch with centralized cloud systems employed by IoT, devices lack the security standards and ownership of information. This problem can be overcome by bringing the IoT cloud and all exchanged information – personal and sensitive data like biometrics, voice recognition, face recognition security codes on to the Blockchain network to make them secure and untamperable, building more trust on smart security systems
- Pharmacy Industry – Counterfeit and fake medicines are quite prevalent and increasing in the Pharmaceutical industry. It is the responsibility of Pharmacy company for developing, manufacturing and distributing drugs and thereby tracking the movements of shipments entire logistics until it reaches its endpoint can get cumbersome and this creates loopholes that are used to get fake medicines into the market.
Moving the entire supply chain of the Pharmacy industry to Blockchain network can improve traceability, data reliability and easily accessible to all those involved for accurate information.
Use-cases are considered the best tool for learning blockchain and if you are keen to upskill to Blockchain and be part of this technological revolution; there are many Blockchain courses that are available in the market. Some these Blockchain training institutes provide online ‘only’ courses which can be convenient at first but they do falter at significant aspects of upskilling to Blockchain. Why a hybrid model of learning is best suited for Blockchain Training Program?
EMURGO Academy provides a flexible weekend only Blockchain training program called WorkPro. Apart from the global advantage of EMURGO Academy, they delve into real-time use cases and live projects that are currently being worked on in the Industry.
If you are on the lookout for a niche blockchain training program that is driven by the industry. Then EMURGO Academy is the right choice for you.
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