About your blockchain skepticism…

Whenever I talk or read about blockchain I see a lot of skepticism. Whether it’s because of a cursory understanding of blockchain or because of its connection with shady ICOs in the cryptocurrency space, there is a blockchain backlash going on. Even those who are in the space are burning out on use of the word blockchain. Not to mention those who say that there is no other use for blockchain other than cryptocurrency.

After hearing the term ‘blockchain’ thrown around for the last couple of years, it is easy to get jaded. But here’s the rub, there are other applications for blockchain beyond cryptocurrencies. In fact, here are three real-world examples of industries applying blockchain right now.

Advertising

Toyota says it gets a boost when applying blockchain to digital ad buys
Toyota is accelerating its plans to use blockchain technology to root out fraud when buying digital ads. The automaker…adage.com

Real Estate

US blockchain sales platform Propy reveals first transaction in Europe
A Californian company attempting to establish a global online property sales platform for investors using blockchain…thenegotiator.co.uk

Food Supply Chain

IBM’s Food Blockchain Is Going Live With a Supermarket Giant on Board — CoinDesk
IBM is taking its food-tracking blockchain into production, making it one of the largest enterprise projects to achieve…www.coindesk.com

Walmart asks lettuce suppliers to trace products using blockchain
Walmart unveiled a blockchain-backed traceability system for leafy greens yesterday in a letter to suppliers…www.supplychaindive.com

All three of these examples show how blockchain is being applied to processes wherein many different parties play a role in a drawn-out process. The goal is to use blockchain to create transparency, efficiency, and in the case of food, safety.

So the next time you hear about an industry using blockchain, don’t just roll your eyes and be dismissive. Sure, it shouldn’t be applied to every sector. And who knows, maybe these real-world examples won’t work out. But there are clear potential use cases for blockchain, and so far, I’m not convinced that trying it out is a bad idea.

I am not an engineer (far from it), so if you disagree, I would love to learn why (seriously). Also, in full disclosure, I am currently consulting for Propy (the real estate example above) but not in an engineering capacity.