Blockchain in business

[zpopdream]

I believe in great use of blockchain in such business areas as transportation, payments (of all kinds, from banking to concerts tickets) and in the spheres that requite transparent and secure data

[eliteeservices]

There are lots of examples, but probably the most significant is how Blockchain is set to revolutionize finance.  It may take 10 years, or more - but one day all financial transactions will be on some form of Blockchain or another.  That's not a bold statement it's just a practical matter.  That is not to say that Blockchains will not be centralized, and controlled by governments & CB, but a technical 'upgrade' of the financial system.  IBM has 20 + central bank clients, that means soon we will have the Crypto Pound, Crypto Dollar, et al. http://bloc10.com/ibm-is-finally-getting-serious-about-cryptocurrency/

This saves money in transaction fees, reduces fraud, and ultimately is a boost for the economy because more money is spent on economic purpose rather than fulfilling banking needs.

[joktel]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

Blockchain technically can be applied into every business which wants transparency in their operations.For real life instances,you can take ripple into consideration along with a few other coins set to change the way banking works.If you're looking for something where blockchain is being implemented and a business is actively using it,you need to wait a couple of more years maybe.

I don't think Ripple is a good example in this case where we are talking about the blockchain's Transparency and immutability.  Please check the Ripple architecture and xCurrent's solution which is the Ripple’s star solution for banks.
To my view the transactions are Centralized and reversible.
Hope some blockchain Gurus over here can explain better...
 

[TrumpD]

Some quotes here first for context:

"A blockchain is a shared database with a provable, auditable and verifiable record of all changes." ~ source: http://www.bbc.com/news/world-africa-43640885

Now in every business there has to be track records, history of transactions, flow of money and assets etc. Blockchain makes this information easy and available not only to your business but also to other stakeholders as this information is stored on the net. It would take time for blockchain to be implemented to different aspect of business, but the easiest would have to do with financial accounting, transactions and records - maybe that is why cryptocurrency was a major hit out of the blockchain technology. In business, blockchain makes it easier for trust to be gained, and if customers or investors can trust your business records, your business will grow.

[muhin]

We're using blockchain at our winery in Argentina, costaflores.com
allows us to have many benefits, for example, tracking of the products we add to the vineyard, weather and soil info, etc. All of this allows for anyone worldwide to check what's been added to the wine, and what hasn't.
Also, we can track through the production chain the different steps that the wine passes trough until it arrives to the final customer, (which trucks, distribution centers, etc)

[hurry_hore]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

There are lot of samples as mentioned in previous replies, I want to add other example of blockchain application into business. Here they are:
1. Medical: for doctor consultation with free by using crypto token, handling big data of medic to be utilized by researcher, pharmacy industries, and other agencies.
2. Transportation: Car sharing by used blockchain and smart contract to facilitate peer to peer car rental.
3. Payment system
4. etc

[kimochidesh]

Businesses can use smart contracts to bypass regulations and lower the costs for a subset of our most common financial transactions. And the best is that the contracts are unbreakable. For example, Companies like Slock, which is an Ethereum-enabled internet-of-things platform, uses this application to allow customer to rent bicycles where they can unlock a smart lock after both parties agreed on the terms of the contract. Another advantage is cloud storage which significantly reduces the cost to store data for companies and personal users.

[carlfebz2]

Some quotes here first for context:

"A blockchain is a shared database with a provable, auditable and verifiable record of all changes." ~ source: http://www.bbc.com/news/world-africa-43640885

Now in every business there has to be track records, history of transactions, flow of money and assets etc. Blockchain makes this information easy and available not only to your business but also to other stakeholders as this information is stored on the net. It would take time for blockchain to be implemented to different aspect of business, but the easiest would have to do with financial accounting, transactions and records - maybe that is why cryptocurrency was a major hit out of the blockchain technology. In business, blockchain makes it easier for trust to be gained, and if customers or investors can trust your business records, your business will grow.

Transparency- This is what i like if Blockchain would be applied into business yet not only making transactions even more faster and cheaper but also it do shows all without any hidden tx which is a great thing.Ive seen some businesses do already accepting this technology and adopt into its capabilities but seeing it rampantly would still require times for total adoptation of such very good tech. Banking sector is one of the things will majorly affect by this thing since they do involve on financial transactions then this thing would really suit in.

[xda-developer]

At the moment, smart contracts do not have legal force in many countries and this is a problem for applying smart contracts in business. If individuals can use the settlements in the cryptocurrency. That for the business is important accounting and other points that are established by law.

[shield132]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

Somehow a lot of people have this question but in reality there are a lot of blockchain based projects. For example I can tell you that Georgia (with the help of Bitfury) released project of registerinf land titles on the blockchain. It gives us possibility to remain everything secure. They are going to expand this together too.

[desmodiAN]

atomic spaws = spwap 1 asset for another without trusting a single middle man

TUSD = US Dollar as a blockchain backed asset

Identity Management = search microsoft identity blockchain

Secure Decentralized Domain Names = search ethereum dns
EthDNS is composed of two pieces: an Ethereum Name Service (ENS) resolver and a nameserver. The former allows DNS information to be stored and accessed on the blockchain and the latter allows that information to be accessed in the same way as equivalent DNS information held on traditional name servers.

and many more

[intellicorepress]

At the moment, smart contracts do not have legal force in many countries and this is a problem for applying smart contracts in business.

Yes, it is. But fortunately, more and more jurisdictions are addressing the legal status of smart contracts - for example, several US states.

[hurry_hore]

Also such giants like IBM are implementing blockchain in the projects they work with - in logistics, healthcare, finance.
You can google how they actually use it and for what reasons

Are they implementing blockchain by releasing the tokens into the community or they just implementing blockchain without releasing the token? I think the company like IBM shall know blockchain as the relation is very close, no wonder for them.

[Sharjeel.97]

CloudFish developed a security platform that enables companies and individual users to secure their assets stored in the cloud using blockchain technology. it use machine learning algorithms to automate threat detection and control before it becomes a risk to the security of users’ assets.

[drumamat]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

Many computer processes in business require the implementation of blockchain. They can be used to control the supply of goods or create a transparent base for investment, or create banking system

[Jenni5]

The blockchain has turned up as the latest alternative to traditional currency and the way transactions were carried out earlier. Blockchain has evolved as a distributed ledger that works towards maintaining all kinds of financial transactions across the borders. Blockchain powered Fintech solutions by Coinnup offers a host of services to people interested to invest in cryptocurrencies like-

Smart Contracts

Under smart contracts, applications run as programmed without any fear from censorship, downtime, and fraud or interference from any third party.

Cloud Storage
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Making Payments

With the help of a platform like Coinnup, that is available across a mobile platform, it becomes very convenient to carry out transactions using crypto. You can use cryptocurrencies for buying groceries or paying any kind of utility bills.

These are just a few of the features that you will find from Coinnup. For a detailed insight visit- https://ico.coinnup.com/.

[richshopgh]

Block chain has seen a success in internet of things,finance, health and gaming. These fields have added an additional layer of development to it usage and increase financial flow with cryptocurrency.

[Doctor_jay]

With the recent amount of ICOs and cryptocurrencies you'd think that blockchain is for everyday consumers and investors only. However business-to-business use cases are more relevant and beneficial.   

Here are some recent examples of business usecases for blockchain.Companies like IBM are pioneering the way, but silently and without hype. So are the banks. 

I know people have mentioned 'transparency' and 'immutability'. But that doesn't mean much. What blockchain does is this: reduces uncertainty. If you have uncertainty, blockchain will do a great job of reducing it.It creates trust and effeciency. Simple.

[dongoofy]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

Blockchain technically can be applied into every business which wants transparency in their operations.For real life instances,you can take ripple into consideration along with a few other coins set to change the way banking works.If you're looking for something where blockchain is being implemented and a business is actively using it,you need to wait a couple of more years maybe.

I agree to this. And I think it will be much earlier than we expected. A lot of high net worth individuals are very skeptical and wary of this but due to the cost efficiency and the effectiveness of the system of Bitcoin, it would be foolish not to take advantage of it and figure out a way how we can adapt it to our today's financial and economic structure.

[yodomaster]

blockchain is enhancing the transparency for the world business, like how it exchange resources and copyrights more efficiently in the world now. Definitely bringing our world better.