Outstanding Blockchain industries

Outstanding Blockchain industries

Engineering
Allan Porras
Allan Porras Feb 7 2020 • 2 min read
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Hey guys! Welcome back to a new episode on The 4Geeks Podcast. Today we are talking about Blockchain, and it can be used to disrupt some industries.

Banking, Supply Chain, Security, Insurance, Crowdfunding, Government, Health, Online Music and Real Estates are some industries that we talked about on this episode.

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Pro Tip: Looking for a nearshore blockchain partner? Work with our Latin America-based in-house engineers, following Agile, DevOps and Lean methodologies.

Hosts: Allan Porras and Sergio Monge.

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Banking:

  • Citi Coin, from Citi Bank. (“equivalent to bitcoin”).
  • HSBC has made what it claims is the world’s first commercial trade-finance transaction using blockchain.

Supply chain:

  • Supply chain is more complex than before.
  • Difficult for customers or buyers to truly know the value of products.
  • All process with IoT gaining transparency

Security:

Blockchain-based systems don’t have a single place to attack due to the technology’s basic principles, where each block is immutable and cryptographic.

Each block has previous hash references (composed from the data)
Proof-of-work (latency) and proof-of-stake(based on percentage)

Insurance:

Fraud: $40B a year in loses for fraud, paperwork process increase fraud. Eliminate double booking, ownership and reduce premium division.
Health insurance: records secured and shared between.

Charity:

  • Crowdfunding (Kickstarter, IndieGogo). Most of the time we don’t know where the money is.

Government:

National Identity Management Systems
More transparency to manage citizen’s data.
Tax and Internal Revenue Monitoring
Voting
Dubai and Estonia

Healthcare

* Share your own data
* Portable around the world.

Online Music:

* Listen directly from artists
* April 2017 — Spotify acquires blockchain startup Mediachain to solve music’s attribution problem … Mediachain is an startup based on NYC (“they will work on developing better technology for connecting artists and other rights holders with the tracks hosted on Spotify’s service.”)

Real Estate:

* Title records
* Transparency on property improvements
* Easy to mapping available properties to buy, real time updated.
* Possibility to gain younger investors (equity fund).

About 4Geeks

Founded in 2012 by Allan Porras, 4Geeks is a global revenue growth firm for Fortune 500, Global 2000 and fast-growing SMBs. Provides product development and B2B growth marketing services, to clients in multiples industries including eCommerce, Retail, Healthtech, Banking & Fintech, Startups & B2B SaaS, Marketing and Real Estate.

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