Use Cases for Blockchain Beyond Cryptocurrency
Blog Article Published: 07/31/2019
CSA’s white paper, Documentation of Relevant Distributed Ledger Technology and Blockchain Use Cases v2 is a continuation of the efforts made in v1. The purpose of this publication is to describe relevant use cases beyond cryptocurrency for the application of these technologies.
In the process of outlining several use cases across discrete economic application sectors, we covered multiple industry verticals, as well as some use cases which cover multiple verticals simultaneously. For this document, we considered a use case as relevant when it provides the potential for any of the following:
- disruption of existing business models or processes;
- strong benefits for an organization, such as financial, improvement in speed of transactions, auditability, etc.;
- large and widespread application; and
- concepts that can be applied in real-world scenarios.
From concept to the production environment, we also identified six separate stages of maturity to get a better assessment of how much work has been done within the scope and how much more work remains to be done.
- Proof of concept
- Pilot production
Some of the industry verticals which we identified are finance, supply chain, media/entertainment, and insurance, all of which are ripe for disruption from a technological point of view.
The document also clearly identified the expected benefits from the adoption of DLTs/blockchain in these use cases, type of DLT, use of private vs public blockchain, infrastructure provider-CSP and the type of services (IaaS, PaaS, SaaS). Identification of some other key features in the use case implementations such as Smart Contracts and Distributed Databases have also been outlined.
The working group hopes this document will be a valuable reference to all key stakeholders in the blockchain/DLT ecosystem, as well as contribute to its maturity.