Blockchain Adoption Across Various Industries

Blockchain technology is revolutionizing various industries around the world. Distributed ledger technology has become the main factor behind this innovation. At first, this technology did not receive the respect it does now. In the following, we’ll take a look at what industries are doing to embrace this new technological movement.
Diamonds
Almost 20 years ago, the United Nations passed a General Assembly Resolution which enacted the Kimberley Process Certification Scheme (KPCS). This was done to help cut the sale of “blood diamonds” and promote ethical practice. Blood diamonds are diamonds that are mined in conflict areas that fund various insurgency groups as well as illicit activities. To back up the KPCS, an Australian visionary founded Everledger, which is an example of distributed ledger technology backed by the IBM blockchain. This ledger is used to trace and track the movements of diamonds across the world.
Food
Global supply chains could definitely use a boost from blockchain tech. Recently, there has been a push by the mainstream public in consuming ethically-sourced goods. More data is needed now than ever before. To examine these issues and provide solutions, global companies are looking at solutions rooted in blockchain technology. For example, last month, Walmart China announced they would start utilizing a supply chain program called the “Walmart China Blockchain Traceability Platform”. This application was built on the Thor blockchain platform.
This program will allow customers of Walmart China to look at detailed data relating to a specific item. They can do so by simply scanning the product’s barcode with the app on their smartphone.
Art
Surprisingly, the art world has embraced blockchain. Although a more traditional industry, art galleries, and curators, found that blockchain offers crowdfunding opportunities that could be of many benefits to the industry. Art galleries can even sell tokens that represent fractional ownership of specific pieces of art.
To read more about blockchain’s adoption in various industries, check out the original here.