How Blockchain Technology is beneficial for different industries

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How is Blockchain Technology bene??cial for 8
di??erent industries?

• The demand for blockchain technology is shoot up
  and It has different advantages in each type of
  industry. We all know that Blockchain Technology
  improves security and prevents frauds and
  provides transparency. It became the need of the
  hour today. We listed the benekts of blockchain
  technology for 8 different industries -
• Benekts of Blockchain Technology in Automotive
  Industry
• Benekts of Blockchain Technology in Banking
  Industry
• Benekts of Blockchain Technology in Government
  Industry

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1. Benekts of Blockchain Technology in Healthcare
   Industry
2. Benekts of Blockchain Technology in Retail
   Industry
3. Benekts of Blockchain Technology in Media
   Entertainment Industry
4. Benekts of Blockchain Technology in Gaming
   Industry
5. Benekts of Blockchain Technology in Travel
   Industry

How Blockchain Technology is benefcial for
Automotive Industry/Benefts of Blockchain
Technology in Automotive Industry
The blockchain will have a positive impact on
efkciency, safety and processes from the
production phase until after delivery. Through
manufacturing monitoring, the blockchain can
guarantee that the parts used come from
authorised sources. This will also monitor
market components, vehicle recalls, history of
services, warranties, pay as you drive (PAYD),
carbon emissions, black
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• boxes, etc.Likewise, it can enhance vehicle
  performance certikcation, facilitate ethical
  scrapping, facilitate automatic payments between
  all parties, and track non-PII (personally
  identikable information) vehicle data through
  sensors that will help analyze trafkc patterns
  and accidents.
• Data that helps in vehicle manufacturing,
  maintenance, transportation, insurance, accident
  prevention, trafkc regulation, etc.
• Benefts of Blockchain technology in the
  automotive industry -
• Insurance to verify and secure vehicle mileages
• Carsharing
• Payments from a buyer to a seller without any
  intermediaries.
• Drivers information
• Tracking Location
• Check the source of materials used in the
  production of a car.
• Vehicle Recalls and History
• Autonomous Vehicles
• Servicing - With a simple scan of a QR code
  servicing history stored on the blockchain

How Blockchain Technology is benefcial for
Banking Industry / Benefts of Blockchain
Technology in Banking Industry
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• In the sector of loan lending and credit,
  Blockchain has changed the banking industry by
  removing the need for regulatory bodies. Thus,
  borrowing money and paying lower interest rates
  is safer for people. Trade knance has been
  substituted by blockchain. The result has been
  transparency, greater safety, and conkdence
  among trading parties.
• The banking sector has acted as a catalyst for a
  variety of economic and kscal activities,
  including commerce, loans and borrowings, and
  operations, for hundreds of years. Nevertheless,
  this longevity has stalled as the industry has
  slowed over time to accommodate the fast-changing
  realities of the digital era.
• Under blockchain, the industry has undergone
  major changes over the past few years. The use
  of blockchain has changed the banking industry on
  a variety of fronts. This has had implications
  for payments, settlement systems, fundraising,
  security management, lending and trade knance.
• Blockchain creates a decentralization that allows
  banks to more easily concentrate on activities
  beyond tracking payment transactions.
• Benefts of Blockchain technology in the banking
  industry -
• Reduce costs
• Strong security
• Instant Payments Cash Transfers
• Electronic currency
• Minimize errors

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How Blockchain Technology is benefcial for
Government Industry / Benefts of Blockchain
Technology in Government Industry
As a blockchain is more secure and gives
transparency, it helps the government to
simplify the processes of voting, tax, and more.
The many benekts of decentralised government lie
in enhancing the efkciency of government bodies
in their way of doing business and their loyalty
to the public. Government based blockchain using
a digital environment can secure data, simplify
processes, saves from risk of fraud when building
conkdence/loyalty. Based on a government wide
blockchain model, individuals, companies and
governments share resources in a crypto-secure
distributed repository. This design removes a
single point of failure and inherently protects
the sensitive information of citizens and
government. Benefts of Blockchain technology in
the Government
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• Industry-
• Securely store government and business data
• Reduce time-consuming strategies.
• Minimize excessive prices for managing rights
• Reduce risks of corruption and abuse
• Augmentation accepts as true to the authorities.
• The delivery of the disbursement ledger may be
  used to sustain a range of government and public
  programs/plans, consisting of virtual money,
  property registration, identity control, health
  care, tax business registration.

How Blockchain Technology is benefcial for
Healthcare Industry / Benefts of Blockchain
Technology in Healthcare Industry
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• Health information powered by blockchain could
  also unlock the real cost of interoperability.
  Fully blockchain-based systems have the ability
  to remove the frictions and costs of modern
  intermediaries.
• Blockchain applications can accurately identify
  critical and even dangerous errors in the
  medical keld. Blockchain networks are used in
  health systems to store and share patient data
  through hospitals, diagnostic labs,
  pharmaceutical companies and physical
  departments. Thus, it can improve the efkciency,
  security, and transparency of sharing medical
  data in the healthcare system.
• The promise of blockchain has a signikcant impact
  on those involved in the health care ecosystem.
  Leveraging this technology has the potential to
  link fragmented systems to generate information
  and further evaluate the value of care. Over the
  long term, a national EMR blockchain network
  could improve efkciency and foster better
  patient outcomes.
• Benefts of Blockchain in the Healthcare industry
  -
• Secure Patient Data
• Management of Medical Supply Chain
• Simple Longitudinal Patient folders
• Payments using Cryptocurrency
• Decentralisation of medical storage
• Enhanced EMR systems
• Improved clinical trial recruitment

How Blockchain Technology is benefcial for
Retail Industry / Benefts of Blockchain
Technology in Retail Industry
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• Retailers have faced many challenges during the
  pandemic, including keeping products on shelves,
  moving supply chains, opening stores, and
  keeping staff safe. While the world is prudently
  heads towards re-opening, retail sales are
  increasing. Now is the perfect time for the
  retail sector to use blockchain to address all
  their needs.
• Blockchain will alter the way of doing business
  in the retail industry and other industries,
  because it can open huge opportunities for the
  retail industry. Small and large businesses can
  benekt from the conkdence, transparency, and
  efkciency of blockchain transactions that support
  the retail sector.
• Benefts of Blockchain technology in the retail
  industry -
• Maintaining product quality Tackling fraud
• Managing consumer data
• Improving loyalty programs
• Tracking inventory
• Enforcing labor rights along supply chains
  worldwide
• Automating back-ofkce administration
• More effective payment systems

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• Exploring blockchain applications

How Blockchain Technology is benefcial for Media
and Entertainment Industry / Benefts of
Blockchain Technology in Media and Entertainment
Industry
Blockchain technology will provide signikcant
benekts to the media and entertainment (ME)
industry. Key attributes of the shared ledger
approach of blockchain technology provide many
benekts over the media supply chain like speed,
efkciency, conkdence, and safety in the
transaction processing. When parameters are
often subject to collusive behaviour then
blockchain provides clarity to this. This
breakthrough offers equitable settlement to the
stakeholders and makes it possible to
signikcantly innovate and novel business models.
This is especially important when it comes to the
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• distribution, consumption and payment of media
  content and advertising.
• Blockchain can also help reduce advertising scam
  like robot clicks and copyright infringement.
  The Media and Entertainment companies that are
  starting to build with blockchain, it is possible
  for them to outperform from their competitors.
• Benefts of Blockchain technology in the media and
  entertainment industry -
• Eliminating Media Intermediates.
• Security of media information and speed.
• Clearly dekned terms and conditions for
  royalties.
• Payment for broadcasting and subscription fees.
• Elimination of Gatekeepers

How Blockchain Technology is benefcial for
Gaming Industry / Benefts of Blockchain
Technology in Gaming Industry
11

• The versatility of Blockchain has also made it
  effective in the gaming industry. The gaming
  industry has made great strides since its humble
  beginnings.The gaming industry has always been a
  controversial area because of problems like high
  fees, Unsecured data, and fraudulent activity
  associated with it. Blockchain technology is a
  panacea for these problems. Many companies have
  already begun with blockchain technology to
  establish trust in players.
• What Blockchain Technology provides to gamers?
• Allows to customise gaming items
• Allows to develop characters
• It Can be transferred to other players and
  exchanged.
• While playing independently players may possess
  the assets.
• Many of us have played Super Mario, Contra on
  16-bit gaming systems. If you remember then you
  know how this once simple industry has evolved
  into a treasure trove of emotionally charged,
  engaging virtual reality games.
• Blockchain games utilise the same technology as
  cryptocurrency and Bitcoin, to create ownership
  of real merchandise. This is considered a
  blessing for gamers who are often stuck with
  elements in the game.
• Benefts of Blockchain technology in the gaming
  industry -
• Make payment processing proktable.
• Minimize fraud activity.
• Safety of storage.
• More control of the game economy.
• Reduce the price of playthings.

How Blockchain Technology is benefcial for
12
Travel Industry / Benefts of Blockchain
Technology in Travel Industry
The travel industry shares information with each
other, which means each travel company depends
on another travel company. Blockchain Technology
can conveniently access and store valuable
information. It also ensures the security of the
travel company's knancial operations. Multiple
sectors are included in travel industry i.e.
Transportation, lodging, Food and beverages and
entertainment. All these industries are thriving
in themselves, and there are many possibilities
to apply blockchain technology to all and
Industry participants will benekt from lower
costs. The real advantage will take travellers
because blockchain enables a more secure and
trustworthy way to travel. Benefts of Blockchain
technology in the Travel industry -
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• Tracking stuff
• Identity Services
• Customer Loyalty Scheme
• Seamless, secure and traceable payments.
• Manage digital inventory more transparently
  without overbooking.
• Conclusion
• Without a doubt, we can say that blockchain
  technology has massive power in shaping all
  sorts of industries. It creates a wide range of
  transparent and sustainable digital
  opportunities. The demand for Blockchain
  Technology is increasing. Get in touch with us
  to build a blockchain solution for your business
  and embark on your journey.

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