Blockchain Use Cases and Applications by Industry

How will blockchain impact the industries of finance, identity, supply chain management, and more? Learn how major sectors are presently deploying Ethereum blockchain solutions to solve recurrent industry problems.

What are the Use Cases and Applications of Blockchain Technology?

Blockchain technology’s core characteristics include decentralization, transparency, immutability, and automation. These elements can be applied to various industries, creating a multitude of use cases. Here are what we believe to be the most pertinent blockchain use cases for enterprises, institutions, and governments.

  • Capital Markets
    For capital markets, blockchain unlocks easier, cheaper, and faster access to capital. It reduces the barriers to issuance and enables peer-to-peer trading, faster and more transparent settlement and clearing, reduced costs, decreased counterparty risks, and streamlined auditing and compliance.
  • Central Bank Digital Currencies CBDC
    CBDCs are a digital form of central bank money that offers central banks unique advantages at the retail and wholesale levels, including increased financial access for individual customers and a more efficient infrastructure for interbank settlements.
  • Decentralized Finance (DeFi)
    Decentralized finance—DeFi—refers to the shift from traditional, centralized financial systems to peer-to-peer finance enabled by decentralized technologies built on Ethereum. Millions are building and participating in this new economic system that is setting new standards for financial access, opportunity, and trust.
  • Digital Identity
    A blockchain-based digital identity system provides a unified, interoperable, and tamper-proof infrastructure with key benefits to enterprises, users, and IoT management systems. The solution protects against theft and provides individuals greater sovereignty over their data.
  • Energy and Sustainability
    Oil and gas companies suffer from siloed infrastructures and a lack of transparency, efficiency, and optimization. Enterprise-grade blockchain solutions can significantly increase process efficiencies and reduce costs associated with oil and gas operations and distribution.
  • Finance
    Financial services struggle with archaic operational processes, slow payment settlements, limited transparency, and security vulnerabilities. Blockchain enhances the efficient digitization of financial instruments, which increases liquidity, lowers cost of capital, and reduces counterparty risk.

Blockchain Solutions by ConsenSys

The adoption and deployment of Ethereum blockchain solutions by financial institutions, crypto-enterprises, and world governments is in full swing. The ConsenSys product suite leverages blockchain to address long-standing industry problems across traditional finance, decentralized finance, commerce, and trade. Find out how.