Blockchain Gets Real Across Industries - InformationWeek

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7/22/2021
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Blockchain Gets Real Across Industries

Blockchain use cases are exploding across industries because these days trust is 'a thing.' Here are 11 examples.
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Credit: Pixabay
Credit: Pixabay

Bitcoin arguably put blockchain technology on the map for the general public. Of course, without blockchain technology, Bitcoin wouldn't exist.

Few remember the early "digital cash" initiatives that emerged not long after the debut of the World Wide Web. Back then, the fatal flaw was operating outside the established financial ecosystems. Blockchain, because it provides permanent, immutable records of transactions, was apparently the missing piece.

While many organizations have launched blockchain initiatives, multinational professional services network KPMG is now approaching it differently.

"Blockchain is now at a point where it's just part of the overall technology stack and that's how we're approaching it," said Tegan Keele, managing director of enterprise innovation at KPMG.

Up until about a month ago, Keele's team was branded as "the blockchain team." Part of that team focuses on crypto asset services that are about making blockchain useful for large financial services companies and helping crypto-native companies understand regulatory control Know Your Customer (KYC) transaction monitoring. Keele's focus is climate monitoring -- specifically, climate accounting that enables companies to prove their emissions footprint and their progress toward Net Zero and other climate-related goals.

"There are starting to be FCC rumblings about climate disclosures [and] other countries are looking at regulations as well. All of that is sort of pointing to the direction of we better have climate data," said Keele. "The real driver is making things more efficient, more reliable, auditable, ready -- all those kinds of things. It's probably matured to the point where it's probably being used in a lot more places than we really know about."

Following are some other examples of where blockchain is being implemented.

 

Lisa Morgan is a freelance writer who covers big data and BI for InformationWeek. She has contributed articles, reports, and other types of content to various publications and sites ranging from SD Times to the Economist Intelligent Unit. Frequent areas of coverage include ... View Full Bio

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