Blockchain Training in Anna Nagar

Industries currently availing of blockchain technology

Aside from the previously mentioned P2P currency systems, blockchain technology is put into practice very rarely. Currently, the majority of blockchain projects are still in their pilot phase or exist only as a concept which has not yet been put into practice. Nevertheless, new approaches to blockchain applications are constantly generated in almost every sector where economic aspects are the primary cause for concern.

Art and music Industry

• The potential of blockchain technology is evident especially in cases where music and art industries necessitate the implementation of copyrights. A blockchain network allowing artists both to register intellectual property (such as artworks or technological inventions) in a publicly accessible database and define its terms of use would simply make mediating authorities such as labels, agencies, and national copyright collectives obsolete.
• In the past few years, the digitalization of music has injected a lot of tension. A piece of music, from the moment it is recorded up until it is sold, encompasses a complex network of participating entities.
• It is often the case that various individuals or stakeholders are in possession of rights to the same song. Compositors create music, to which authors write corresponding lyrics. Artists then interpret the song for themselves, while labels organize the production line and take over any commercial responsibilities including marketing, promotion, and distribution.
• All these services are included within the copyrights and all participants receive proportionate amounts of revenue earned from the sale of CDs, downloads, or streams.
• Addresses artists, photographers, and designers who would like to secure copyrights for their digital works. The platform gives creative individuals the chance to register compositions and award usage rights to their respective owners. With the aid of user history, it is possible to trace every step of a registered work and how it has been used in practice.

Media industry

• When blockchain-oriented technologies establish themselves firmly within the media industry, companies actively using them will have to prepare for radical structural changes. This is primarily related to media corporations and their roleas central content distributors.
• License tradingbetween producers and their corresponding consumers is yet another area of application for blockchain technologies. There are already many companies availing of blockchain-based solutions in order to step up their contacts with TV stations, online portals, or providers of video-on-demand services.

Fashion and design industry

• Blockchains and fashion? Not a problem. The industry concentrates predominantly on securing brand licenses.
• Blockchain has been first applied to a chip, which provides luxury products with a unique ID number. Products necessitating protection against falsifications are therefore registered within respective blockchains by means of such chips.
• The majority of luxury brands use QR codes for the identification process of their branded products.

Health sector

• Each year, faulty administrative systems cause billions of dollars to be lost in healthcare costs. Thousands of patients die as a result of such flawed systems. Blockchain technology could make favorable contributions facilitating the management of health records. 
• Beat, yet another start-up worth mentioning, has devoted its efforts to a much different aspect of the health industry, as it combines fragmented data from the sports and health sectors to facilitate performance measurements for athletes. Here, a blockchain is employed to act as a data pool.

Insurance industry

• Axa, one of the biggest insurance companies on the market, has recently implemented a new policy entitled Fizzy, which is based on an Ethereum blockchain. Those who would like to avail of the cover offered by travel insurance(most cover against unexpected flight delays) do not have to do anything other than register themselves.
• The aim here is to form a more transparent picture of the contracts for date and claims processing by means of various blockchains.

Financing

• In terms of financial services, intermediaries such as banks, external payment services, and stock markets react adequately to the threats of blockchain technology by adapting to the situation on the market.
• Continued research interest presents the sector in question with blockchain solutions, which enable making transactions in a more efficient manner and thereby reduce costs.
• If there is one company which recognized the potential of blockchain technology for the financial market very early on, it’s certainly Visa. By means of the blockchain-based online platform Visa B2B Connect, the credit card company aims to make direct cross-border payments between companies safer, more efficient, and more transparent. Visa’s main market rival, MasterCard, also plans on using blockchain technology in the future.

Fundraising

• Fundraising for start-upscan also be processed by means of blockchains and cryptocurrencies. This platform facilitates and speeds up the process of classic venture capital (VC) fundraising methods.
• Founders of start-ups, which are not based on blockchains or Bitcoin systems, are becoming increasingly interested in enabling financing by means of such technological variations.

Social projects

• An example of a social project based on blockchain technology is that of the World Food Program (WFP) organized by the UN. The private blockchain are the various blockchain-based platforms that create virtual environments for direct interactions between content creators and consumers. From a list of journalistic productions, users of the platform can choose whatever they find interesting and pay corresponding text authors directly by means of a blockchain via so-called “CVL tokens” – the official cryptocurrency of the content hub.
• Blockchains are also alternative forms of mediating authorities in the advertising industry, with online advertisingseen as the sector with most potential for the implementation of blockchain technologies. Blockchain-based advertisement networks that enable bookings to be made directly with publishers are able to reduce the need of intermediaries and develop the advertisement market into a more transparent sector.
• Each refugee is tagged and receives a limited budget for food. The identification of each one of them and their respective budget is made possible by means of a retinal scan in the shop area of the camp. The cryptocurrency used in the process is Ethereum, with each purchase free of any extra charge and directed through blockchain-based accounts.