As you know, the world of finance shows the greatest interest in blockchain technology. However, the functionality of this distributed registry technology is much broader than the financial services industry and can be used not only in the banking sector but also in a number of other areas – to protect copyright and property rights, simplify cash payments, purchase of goods on the blockchain, for data management, mining and energy, digital identification, electronic voting, games, organizational management, on the Internet of things, the labor market, real estate and other areas.
Especially interesting is the use of blockchain technology in the industrial sector, as here it can solve many problems in the organization of production and sale of products. Supply chains of industrial enterprises are very complex mechanisms with their own nuances that can slow down and complicate many production and logistics processes.
The use of blockchain technology will simplify the process of spare parts replacement and purchase of new equipment for industrial companies, will make it possible to track all stages of delivery and get rid of bureaucracy, exclude the intermediary link from the chain and expand the list of customers, as well as establish direct communication with consumers.
Despite the fact that blockchain is still a relatively new technology which continues to develop, it has great prospects and is able to radically change the conduct of business by industrial companies.
