Looking to understand how blockchain might help your company? We focus on helping companies leverage Blockchain and related technologies to effectively benefit their business. We also can provide insights to your industry and the shifts required for you to remain competitive during the coming blockchain economy. Whether it is Hyperledger, one of its variations, Ethereum, or another technology, Disruptify builds teams that are the right fit for your organization. Using an agile approach in collaboration with your team, we partner to develop an innovative solution to accomplish your goals.
When the average person hears the word ‘blockchain’, they probably think ‘Bitcoin’, and so it’s no surprise that we have Banking listed first. Blockchain provides a secure way to store banking records and a faster, cheaper way of transferring money through the decentralization provided by blockchain. In the coming blockchain economy, each customer can own his own ‘vault’ that no one else can access it. Currently, banks are experimenting with clearing and settlement, trade finance, identity, and syndicated loans.
Insurance as an industry is primed for integration of blockchain technology. Using the distributed ledger’s unique verification ability, insurance companies could independently verify data within contracts to facilitate a smoother process at every stage of the game. Additional benefits would include automation, lower costs to consumer, fraud detection, and risk prevention.
If you’ve ever bought or sold a home, you know how much paperwork is involved. But blockchain systems could be used to simplify the process and eliminate escrow altogether. Smart contracts could be designed that only execute when certain conditions are met, including funding. This will reduce commission fees and increase the security of documents. There are already disruptive projects underway for these and other areas of Real Estate.
Voting systems aside, blockchain technologies could be used to help reduce high costs and corruption in government agencies. Welfare, disability, and many other benefits could be more easily verified and distributed, eliminating fraud and waste. Smart contracts could ensure that government funds are only released when certain conditions are met whether to contractors or foreign governments in the form of aid.
Unlike the days of paper records, or even today when digital health records can be created and stored in a myriad of different systems, your health records could be singular, complete, and travel with you from birth to death, regardless of how many times you change doctors or insurance systems. In addition, blockchain can provide immediate access to all information during an emergency. Major disruption is underway in this area.
While many industries have been reluctant to dive into blockchain the coming “programmable economy” coming over the next 5-10 years will force most industries to adopt new ways of doing business or risk going the way of Blockbuster Video, Sears, or Kodak.