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Blockchain use cases have expanded well beyond cryptocurrencies over the past few years, with multiple industries adopting the technology across a wide range of sectors including healthcare, logistics, and financial services.
The hype has many reasons behind it. Blockchain is decentralized and transparent, increasing the capacity of the entire network and opening the window to solutions that require significant computational power. More importantly, users will be able to manage assets, including data, without relying on third parties.
As blockchain evolves, companies around the world are working to find the best ways to implement the technology in various applications. Cointelegraph reached out to a project disrupting the industry and bringing blockchain closer to people’s everyday lives for further insight.
Healthcare on blockchain
Medical records have long been considered the domain of clinicians and medical organizations around the world. In 2020, a database containing sensitive information such as his ID from the government and the tax identification numbers of more than 115,000 of his people who applied for a COVID-19 distribution permit was made public in Argentina.
This incident prompted ShelterZoom to develop solutions to protect patient medical data from such cyber breaches in the future. The company created a smart document SaaS provider and partnered with private hospitals to give patients complete ownership and control over their medical records.
ShelterZoom CEO Zhao Cheng-Shorland told Cointelegraph, “Each patient record is tokenized, which means each online record has a private key attached to it.” .
Via blockchain-based plugin extensions or mobile apps, users can access the medical records dashboard and perform all necessary operations at any time. Patients can also track email attachments and revoke access regardless of whether the recipient has opened the email. A senior official explained:
“By moving record management to the blockchain ecosystem, healthcare providers and patients will have instant access to medical records, rather than waiting for paper records to be delivered or faxed.”
As a result of the partnership, more than 300,000 patients are currently accessing the Web3 application, with plans to extend the service to other healthcare providers in Argentina.
Data ownership
In the decades since the advent of the Internet, data has become a valuable resource. Historically, users have given their personal information to her websites and services for free, but there is no financial gain when those companies sell their personal information to third parties. . But with Web3, users are once again in control of their data and can decide whether or not to monetize it for their own benefit.
Dimo is a decentralized transportation data protocol that allows users to create verified vehicle data records. Owners can privately share this information with the application, allowing them to negotiate better premium rates and financing rates. Referrals and participation in the network will be rewarded with native his DIMO tokens.
Related: What is Blockchain Technology? how does that work?
CoinFund CIO Alex Felix, one of DIMO’s investors, told Cointelegraph:
“Whether it is NFTs or games, we expect that the more blockchain technology is used outside of trading and speculation, the more broadly consumers will understand the value of this technology. We want to get to a place where we choose cryptography without thinking about it, and that comes from focusing on the best use cases.”
Felix believes projects focused on first-party data will replace advertising cookies and underpin personalization. “Web3 will allow users to monetize their data, and consumers will benefit substantially from this fundamental innovation made possible by blockchain technology.
Luxury turns to blockchain
The Aura Blockchain Consortium was founded to enable luxury brand customers to verify the authenticity of their products. For example, through its partnership with Aura, Prada enables clients to track their recycled gold jewelry and diamonds, ensuring their authenticity and transparency at every stage of their production.
Other members of the consortium include LVMH brands such as Louis Vuitton and Christian Dior. The group offers customers a diamond certificate powered by Aura that preserves each stone’s characteristics, provenance and journey.
Traceability, especially as it relates to diamonds, has long been a challenge for the jewelry industry, which strives to sell only conflict-free diamonds.
Aura is based on the Ethereum blockchain and uses Microsoft Azure. The project’s traceability smart contract and blockchain infrastructure was developed by Consensys. Other funding members also include Mercedes-Benz and Cartier.
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