Blockchain For Different Industries

Blockchain, a future-vision technology, works in the distributed environment and on the highly-secured platform with a huge amount of information across the network. Blockchain service providers that connect the world of crypto. And, as we know, with improved technologies- industries & business across the worlds also get affected! Following the trend and popularity of Blockchain, our experts have also started to offer blockchain services such as testing, technology advisory, development services and other related services across different industries and some of them are:

Real Estate Industry

Banking Industry

Healthcare Industry

Legal Industry

Retail industry

Insurance Industry

As our team has worked and delivered a good number of blockchain driven & cryptocurrency based projects across different verticals, we can give you a clear vision of how blockchain can impact different industries.

• Real Estate Industry: If you have ever bought or sold a property then you might be aware of the paperwork involved in such procedures. Blockchain is able to store all the documents & transaction records securely in a virtually hack-proof ledger where all the data or records will be encrypted. To add more transparency, you can take advantage of the smart contracts that will release the fund without any manual intervention but, only if the conditions are met.

• Banking Industry: Blockchain is a secure platform. Finance means transaction and transaction always need security. Blockchain is a platform that can store transaction records securely and speed up the transaction process but at a cheaper rate. Cross-border payments and trading, global remittance, peer-to-peer(P2P) transactions, corporate trade & settlements, commercial insurance management- Blockchain can provide the solution in each of these fields.

If you want transparency, security, faster clearing & settlement and save money or reduce cost in your finance company- then Brainvire will build that web-platform for you using Blockchain that will definitely suffice the present as well as future needs!

• Healthcare Industry: Blockchain increases privacy and interoperability of the patient’s electronic medical records and maintains regulatory compliance. It allows patients and organization to share sensitive data across networks without compromising security & integrity. Blockchain technology helps the patients to get effective treatments and the organizations also get an opportunity to deliver cost-effective treatment. Not only this, but Blockchain also maintains the trust between the patients & healthcare providers by securely storing the medical records which can be accessed only by the authorized people. Right from the patient enrollment to initiating claims- Blockchain can cover all the aspects of clinical trials in a cost-effective manner and help people related to the healthcare industry by providing a reliable solution.
• Legal Industry: We already mentioned the term ‘smart contracts‘ for real estate industry but that one is useful for the legal industry too because this type of contracts can be made between relevant parties as it minimizes lawyer involvement. In fact, Blockchain protects your intellectual properties such as images, videos, symbols etc so that nobody can use your properties without your permission. Moreover, a digital ledger is really useful in case if a lawyer wants to preserve any crucial evidence and that will remove the need for testimony!

• Retail Industry: Cryptocurrency is volatile but you just can’t ignore the advantages of Blockchain just for this reason. Blockchain allows a customer to track a product in the supermarket. Blockchain technology provides a complete transparency between the retailers and consumers and this, in turn, increase the level of trust between the customer & retailer. Besides this, retailers can also set up authentication or verification of products at every touchpoint, track the temperature of a container during shipping and ensure the safety of the food supply chain. The real estate asset management system concerns itself with reduced risks and promoting valuable improvements.

• Insurance Industry: ‘Smart Contract’ again comes here. So what is the use of smart contracts in insurance? Let’s have a look here.
• Death benefits: A smart contract can be made between the insurer & the insured person where the beneficiary will get the death benefits upon the death of the policyholder.

• Notification to the insurer: If a smart contract is connected with the death registry, then the insurer will get notified once the person is dead. Once the verification is done, depending on the policy claims can be initiated and claim settlement can be completed without any hassle.

Be it a microinsurance, reinsurance recoveries, travel & life insurance or record

keeping- Blockchain has the solution for everything!

Prominent Use-Cases of Blockchain

Using modern SHA-256 bit hashing algorithm, our professional team has developed a blockchain based consent application-‘Consentsy‘. Consentsy, an innovative & helpful consent app is actually a digital contract that can secure a relation between two parties. The primary objective of this modern and unique yet smart video application was to store the video recording of consent and allow the parties to make smarter decisions about intimacy in their relationship and store it securely in the database as well as in the blockchain server so that in case, if any party raise any objection in near future, then the contract can be used as an evidence. Apart from this, our team also developed a smart notary system that records a conversation which can be retrieved anywhere from the world and can be presented as a proof in case of legal matters.

As I have mentioned before, above-mentioned industries are among some of the key industries where blockchain can have an impact. Blockchain is for everybody who wants security and transparency in business and like any other reputable organization, Brainvire also understands your business. With innovative concepts and insights, Brainvire recently created a high-performance blockchain mining solution web platform powered by Blockchain for a reputed firm based in the USA that is involved in cryptocurrency trading. The purpose of the project was to make a connection or a bridge between the traders and verifiers. The client appreciated our effort of building this web platform because it fulfills the purpose of client – earning a good revenue without actually setting up high cost and heavy-duty equipment at the office.

If you have any such requirement drop a mail at info@brainvire.com and together we will explore how blockchain network renovates your business!