Blockchain Application Use Cases¶
This section describes how blockchain can be used. These are real applications developed in-house by KompiTech, some of which are being run in production on the KompiTech Blockchain Platform.
Multiple parties - if your blockchain networks in your application will not involve or interact with multiple organizations do not use blockchain.
Imagine IT service provider having customers to which services are provided and suppliers from which services are being bought.
There are 2 common issues for IT service providers that blockchain can resolve:
No transparency for the customer - supplier reports a certain amount of work that customers might not be able to verify on their side.
Customer refuses to pay - smart contract holds how a service will be handled. If a service is delivered and the SLA is met, then the customer should pay according to the smart contract. But what if the customer refuses to pay for some reason? Then you have a proof of evidence in blockchain, where the history of all services provided is recorded and can be used to resolve any conflict with a customer.
The product amount inconsistencies that come with consignment inventory can lead to huge financial loss and possibly even fraud in the HealthCare or automotive industry.
With blockchain the following issue can be mitigated:
Amount of products or conditions - blockchain can trace the products and locate the party responsible for financial loss.
To ensure fraudless elections, a government could implement a transparent voting system and by using a decentralized blockchain network, allowing its citizens to send cryptographically signed votes.