Blockchain technology is a great tool for banks, insurance, healthcare, pharmaceutical industry, supply chain in many sectors. Blockchains can replace many of the central "trusted third parties", including banks, notaries, land registries, and so on distributed computer systems.
Here are some sectors where blockchain is used:
1. Pharmacy: Blockchain technology and medicines can be used for drug integrity improvement. It could save as many as one million lives annually if drugs can be identified clearly and tracked from production to consumption. DHL already works with Accenture to create a track-and-trace serialization system using blockchain technology. To know briefly about blockchain technology you can visit https://www.supercolony.net/.
2. Fashion: CGS allows consumers to track every step of a garment's life cycle. This allows companies from all three sectors of fashion, apparel, and consumer goods to collaborate. This solution allows consumers to no longer rely on sustainability fashion's value blindly. Blockchain technology allows for the tracking of sustainability and conformity.
3. Payments across borders: Access to capital is often a problem for small food producers in developing and underdeveloped nations. A cross-border agricultural trading platform is pioneering new ground thanks to a Sweet bridge block bridge solution. A fair trading system is being developed.
4. Food safety: IBM has partnered with Dole, Nestle, and Walmart to improve food safety. The data of all the parties involved, including the processors, suppliers, traders, and retailers, is available to all. This includes supervisory authorities as well as consumers.
All transactions can be tracked and all information can be viewed about the food. The blockchain allows all food industry members to quickly remove contaminated food from its supply and production chains before it reaches the shelves.