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While bitcoin and other financial applications are grabbing headlines, companies in the industrial manufacturing sector are developing innovative commercial solutions based on the technology. There are several use cases and potential benefits of blockchain that are being explored by manufacturers today. Starting from designing, engineering, making or even scaling the products, this technology can revolutionise industrial manufacturing.
We see a lot of debates involving centralised and decentralised exchanges. We also see community members explaining the potential benefits of each type of exchange. But what are the key elements that set both apart? There are a number of dimensions to centralisation, hence the classification of an exchange as either centralised or decentralised is approximate, and often focuses on the issue of control (i.e., political centralisation).
Due to an exponential increase in the introduction of new projects, products, and services in the blockchain space, the blockchain ecosystem has seen an explosion of new entrants. Although this is good for the ecosystem, it can make it difficult for the industry outsiders - and even insiders to keep track of the proliferation of the novel offerings that often span multiple market segments.
Real Estate is one of the sectors that see investments involving large sums of money and is regarded as the most significant investment class in the world. The money that flows in usually sits there for a more extended period. Processes and property registrations are time-consuming and generally well documented, but are still far from sufficient in some countries. Investors see this sector as a relatively non-transparent and illiquid investment as compared to equities and bonds. In this modern-day, transparency depends upon the recorded data and new forms of real estate investment such as crowdfunding and crowd-investing help in gaining liquidity. In this context, the lack of information necessary to facilitate transparency is seen as an increased risk by all investors.
Interest in blockchain’s potential in the public sector can be seen in an increase in experimentation. With blockchain, sectors will witness better security ( enhancement of data integrity, tamper-resistance and consistency between organisations), efficiency gains ( lower costs with reduced processing time) and a greater level of trust in public record-keeping. Blockchain has so far offered a set of incremental innovations that has the potential of making huge economic differences. Radical innovations are yet to be seen in the blockchain space.
On March 26, 2019 a report was published on Coindesk.com revealing that luxury brand conglomerate LVMH, owner of Louis Vuitton, was preparing to launch a blockchain platform, code-named AURA. The platform will be dedicated to prove the authenticity of luxury goods. LVMH in collaboration with ConsenSys and Microsoft, finally launched the platform on May 16. In a press release dated May 16, ConsenSys said that AURA will enable consumers across the product history and proof of authenticity of luxury goods - from raw materials to the point of sale, all the way to second-hand markets.
There exists numbers of usecases of blockchain technology in the automotive sector. Twelve use case groups have been identified and presented in this document. These 12 use case groups are derived from an initial analysis of over 40 use cases researched by Deloitte and were shortlisted and combined to cover the breadth of the automotive market and blockchain applications. With each use cases defined below, we have outlined a range of individual use cases.