Exploring other applications of DLT
![Where is blockchain being used outside of finance and supply chains? A hand holding a smartphone. The background is a city with lines joining the buildings indicating network connection.](https://ugc.futurelearn.com/uploads/images/ca/32/ca32d710-c311-41c6-8adf-75a796bed83c.jpg)
We’ve just explored a small number of blockchain’s use cases. Blockchain could have a tremendous, transformational and disruptive impact for many industries and sectors. Not only providing a new digital infrastructure, but also leading to brand new business models.
As long as there is a need to share information between multiple stakeholders where trust is an issue, blockchain can be used. Several novel use cases applying blockchain technology in various sectors are presented below. Remember: these just represent a snapshot of projects that are in development!
Loyalty programmes
Loyalty programmes are used in airlines, finance, hospitality and retail sectors to name a few. One issue with different loyalty schemes is that consumers are unable to use rewards across different companies and organisations. This is because of the use of disparate and segmented systems by different loyalty scheme providers. This limits cross-marketing and potential revenue and growth opportunities. Blockchain technology can enable different providers to establish trust in the collection and sharing of rewards between multiple stakeholders. An example of an implemented project like this is Singapore Airlines and their Kriss Flyer loyalty programme, where points from flying with Singapore Airlines can be spent with other organisations and vice versa.
Insurance
Insurance companies often have many different stakeholders involved to effectively run their operations. Multi-party operations are at the core of the insurance industry. Stakeholders range from brokers and agents to underwriters, providers and customers. Consider the following example of car insurance:
A customer may use a broker to purchase their insurance. Their car details need to be checked against DVLA records, the driver’s details and identity need to be confirmed, their credit rating needs to be verified, and payment needs to be taken. If they claim, then multiple external parties may need to be brought into the claims process.
Advertisement settlement
Government
Healthcare
Trade Finance
Your own situation
Have any of the above use cases impacted you? Are any of them relevant to your business sector? Can you find other examples to share with your fellow learners?
References
1. Nielsen R. Half of online campaigns fail to reach target audience. 15 December 2016. MarketingWeek. Available from: marketingweek.com.
2. Burgi M. What’s Being Done to Rein In $7 Billion in Ad Fraud. 21 February 2016. Adweek. Available from: adweek.com.
Introduction to Blockchain Technology and Applications
![](https://ugc.futurelearn.com/uploads/images/91/25/promo_small_9125fbce-d8a4-4437-8954-4041efb1e2a3.jpg)
Introduction to Blockchain Technology and Applications
![](https://ugc.futurelearn.com/uploads/images/91/25/promo_small_9125fbce-d8a4-4437-8954-4041efb1e2a3.jpg)
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