A blockchain is a decentralized distributed digital ledger that is used to record transactions across many computers so that any involved record cannot be altered retroactively, without the alteration of all subsequent blocks.

But how does it look like in the real world? What are the fields that it can revolutionize? We collected some examples to show how diverse this technology is and why is it important to continuously look for and implement innovations and new technologies.

Healthcare

Healthcare is the sector where this technology could have the biggest effect on our lives. Storage of healthcare records and clinical data is one field where the sector could use blockchain technology. It improves the access to medical records, helps cutting costs by helping healthcare providers determine how much a patient’s care will cost them when bundled with multiple organizations. Tracking medicine trade and clinical trials is another way how it helps to make the job of healthcare providers easier.

Legal Industry

This field is one of the most sensitive ones when talking about data security. By providing safe databases it can also improve the operations involved in this industry and eliminate the need for long legal processes in most domains. Safe data, smart contacts and regulation, transparent documentation, easier corporate filing – these are only a few of the features where blockchain technology could make life easier for decision makers and all affected parties.

Real Estate

Blockchain technology can streamline the real estate ecosystem by allowing people to securely and efficiently share data and money. We all know the horror-stories of homebuyers, but soon these will remain stories and not up-to-date cases. While providing transparent transfers and smart contracts it can prevent deed and title fraud. By decentralizing listing services it will eliminate the issue of the lack of communication between the members and create a secure, unified record and terms of use.

Energy Sector

Since renewable energy means a headway to the future, its regulation is a daily topic on the decision makers table. Unlike non-renewable energy, solar and wind energy can be directly provided from producers to consumers. Peer-to peer energy means that there is no need for an intermediate authority and the new technology enables financing investment in green energy projects along with the trade of sustainable power at scale.

Innomine Group supports blockchain startups

Innomine Group is a leading innovation management and funding expert company, with a solid track record in the field of innovation and international projects. Innomine focuses on international, highly complex startup, scaleup, SME and corporate research and innovation projects and offers its innovation, public funds and communication expertise to best represent the interest of its clients. It is specialized in publicly financed innovation programmes, primarily in the high-tech sector and has a cross-disciplinary and cross-national team of professionally qualified consultants, with research and consultancy expertise in management, technology and European funding.

Being part of the Blockchers project, Innomine created a wide network in the field of blockchain in the CEE region and provides innovation and H2020 consultancy to help SMEs access EU funds and develop their businesses. Innomine connected with European startup Hubs and blockchain associations to help the regional SMEs widen their network and provide them relevant news about the opportunities in the sector and help them along the way.