Potential Use Cases

[fdevaulx]

• Voting
  • https://patents.google.com/patent/US20200258338A1/en

Resources

• https://eprint.iacr.org/2017/375.pdf
• https://www.researchgate.net/figure/Flow-diagram-for-deciding-when-to-use-blockchain-in-an-IoT-application_fig2_325494976

[tiannau]

Four questions to ask to determine if Blockchain is appropriate for an enterprise solution

1. Are there multiple groups that need to establish/instantiate trust
2. Are there multiple parties sharing or updating the same data
3. Is there a requirement for verification
4. Can intermediaries be removed and reduce cost and complexity

Common business patterns

• Eliminates intermediaries increasing efficiency and speed • Simplifies operations by reducing cost and time related to reconciliations and disputes. • Potentially enables new business models increasing revenue and savings

[afomi]

re: flowcharts

• https://eprint.iacr.org/2017/375.pdf
• https://www.researchgate.net/figure/Flow-diagram-for-deciding-when-to-use-blockchain-in-an-IoT-application_fig2_325494976

[afomi]

capabilities

• third-party attestation using a timestamp server
• user login / authentication
• user tokens / authorization
• digital property / asset tokenization
• micro/nano payments HTTP 402
• after-the-fact reconciliation / auditability
• a global event bus
• triple entry accounting
• AI training data legality & accountability
• escrow

[afomi]

ChatGPT 4 responded:

1. Financial Services:

   • Cryptocurrencies and Digital Payments: Facilitating fast, secure, and low-cost transactions without the need for traditional banking systems.
   • Decentralized Finance (DeFi): Offering financial instruments without the need for intermediaries, including lending platforms, yield farming, and decentralized exchanges.
   • Cross-border Payments: Simplifying and reducing the cost of sending money across borders.

2. Supply Chain Management:

   • Provenance Tracking: Ensuring the authenticity of products by tracking their journey from origin to consumer.
   • Counterfeit Prevention: Helping to prevent the distribution of counterfeit goods.
   • Real-time Visibility: Providing all stakeholders with real-time visibility into the supply chain.

3. Identity Verification:

   • Digital Identities: Enabling individuals to control their personal information and share their identity securely online.
   • KYC (Know Your Customer) and AML (Anti-Money Laundering): Streamlining the process for compliance with regulatory requirements.

4. Voting Systems:

   • Secure Voting: Offering a secure, transparent, and tamper-proof system for elections, reducing the potential for fraud and increasing trust in the electoral process.

5. Healthcare:

   • Patient Records: Securely storing and sharing patient records between institutions to improve the quality of care.
   • Drug Traceability: Tracking the production, distribution, and sale of pharmaceuticals to ensure safety and compliance.

6. Intellectual Property Protection and Royalties:

   • Content Management: Managing copyrights and ensuring creators are fairly compensated for the use of their work.
   • Royalty Distribution: Automating the distribution of royalties to artists, writers, and musicians.

7. Smart Contracts:

   • Automated Agreements: Enabling the execution of contracts automatically when certain conditions are met, without the need for intermediaries.
   • Decentralized Autonomous Organizations (DAOs): Facilitating the operation of a company or organization without a centralized authority.

8. Gaming and Virtual Goods:

   • Ownership of In-Game Assets: Allowing players to truly own, buy, sell, and trade their in-game assets across different games and platforms.
   • Decentralized Gaming Platforms: Creating games that operate on a blockchain, providing transparency and fairness.

9. Real Estate:

   • Property Ownership and Transfers: Streamlining the process of buying and selling real estate by securely recording property ownership and transactions.

10. Education and Credentialing:

    • Verifiable Credentials: Issuing verifiable digital credentials, such as diplomas and certificates, reducing fraud and simplifying the verification process.