Blockchain Applications

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By:

Asif Khalid Qureshi

Blockchain Ecosystem
Blockchain Ecosystem

Blockchain Transactions Total Number of

S. No Block Size Block Time Consensus Algorithm
Ecosystem per Block Transactions
1 Bitcoin 1 MB 10 minutes Proof-of-Work ~ 1,500 ~ 300,000/day
2 Ethereum 15.6 kB - 30 MB* ~13 seconds Proof-of-Work (transitioning to Proof-of-Stake) ~ 115 ~ 1.5 million/day
3 Binance Smart Chain 15 kB 3 seconds Proof-of-Staked Authority ~ 1,000 ~ 14 million/day
4 Cardano 8 MB 20 seconds Proof-of-Stake ~ 50 ~ 1 million/day
5 Polkadot 1 MB 6 seconds Nominated Proof-of-Stake ~ 1-10 ~ 10,000-100,000/day
6 Solana 1.6 MB ~ 0.4 seconds Proof-of-History + Proof-of-Stake ~ 3,750 ~ 1.5 million/day
7 Avalanche Variable < 1 second Avalanche consensus ~ 1,000 ~ 1 million/day
8 Algorand 1.5 MB ~ 4.5 seconds Pure Proof-of-Stake ~ 22 ~ 1 million/day
9 Cosmos Variable ~ 6 seconds Tendermint consensus ~ 100 ~ 1 million/day
10 Ripple N/A 3-5 seconds Ripple Protocol Consensus Algorithm ~ 1,000 ~ 1 million/day
Blockchain Architecture
Smart Contracts
• A smart contract is actually a computer program that performs a task
when triggered by the occurrence of a predetermined event.
• Smart contracts live on blockchain
• Nick Szabo, a computer scientist and cryptographer who coined the term
“smart contract,” likens a smart contract to a vending machine.
• In order to trigger the automatic performance of a function, the smart
contract uses “oracles” to receive information from the outside world.
Smart Contracts
Smart Contracts - ORACLE

Connecting smart Communicate real-

contracts to online world information to
data sources, such as the smart
temperature, contract. RFID sensors,
commodity prices, for instance, can detect
and transportation environmental changes
delays that link to blockchain
to trigger a smart Humans act as Different
contract. oracles when humans vote on
they provide the input to
real-world provide to the
information to a oracle
smart contract
Merkle Tree
• A blockchain is a hash-based linked list of
blocks, where each block consists of a
header (Hash Pointer) and transactions
(Data). The transactions are arranged in a
tree-like fashion, known as the Merkle
tree

• The blockchain is a proficient combination

of two hash-based data structures-
• Linked list: This is the structure of the
blockchain itself, which is a linked list
of hash pointers. A regular linked list
consists of nodes.
• Merkle tree: A Merkle tree is a binary
tree formed by hash pointers, and
named after its creator, Ralph Merkle.
Merkle Tree Structure
• In Merkle tree each leaf node is
labeled with the hash value of a
data block and each non-leaf node is
labeled with the hash value of its
child nodes labels
• This is a bottom-to-up type of
construction where the hash values
are flowing from leaf nodes level
(down) to Merkle root level (up)
direction.
Merkle Tree Structure
• Example: Consider a block having 4 transactions- T1, T2, T3, T4. These four
transactions have to be stored in the Merkle tree

H1234 = Hash(H12 + H34)

H12 = Hash(H1 + H2) H34 = Hash(H3 + H4)

H1=Hash(T1) H2=Hash(T2) H3=Hash(T3) H4=Hash(T4)

Merkle Proof
• Example: Consider a block having 16 unique transactions of 4 bit each, Construct a
Markle Tree with width 2, with the proof size 5 i.e Markel
Proof(0111,0110,010,00,1)
Merkle Proof
• Example: Consider a block having 16 unique transactions of 4 bit each, Construct a
Markle Tree with width 4, with the proof size 7 i.e Markel
Proof(0111,0100,0101,0110,00,10,11)
Merkle Proof
• Example: Consider a block having 16 unique transactions of 4 bit each, Construct a
Markle Tree with width 16, with the proof size 16 i.e Markel Proof(0111, 0000,
0001, 0010, 0011, 0100, 0101, 0110, 1000, 1001, 1010, 1011, 1100, 1101, 1110,
1111)
Merkle Proof
Blockchain Technology Use Cases
Blockchain in BANKING & FINANCIAL SERVICES
• Every month, around 400 new blockchain dApps appear in the
finance industry. Blockchain promises to bring transparency,
simplicity, and efficiency to financial transactions.
• The technology can be used for all key services provided by banks,
such as payments, clearance, and settlement systems. One day,
blockchain promises to put crime and fraud to rest in the financial
industry.

• Implementations:
• https://www.credit-suisse.com/
• https://www.jpmorganchase.com/
• https://www.westernunion.com/
• http://www.santander.pr/
Blockchain in INSURANCE
• Blockchain doesn’t bring anything new to the insurance industry.
Instead, insurance companies are adding blockchain to their existing
solutions with the goal of improving operational efficiency, driving
down costs, increasing speed to market, and providing a better
customer experience.
• Immutability and version control properties of blockchain allow using
the technology for cross-border partnerships and transactions. In the
insurance industry, blockchain can be used for various purposes such as
fraud detection, reinsurance, on-demand insurance, microinsurance,
and so on.

• Implementations:
• https://insurwave.com/
• https://guardtime.com/
• https://ryskex.com/
Blockchain in HEALTHCARE
• One of the biggest challenges in the healthcare industry is the use of various
systems that process and store data and the lack of connection across these
platforms. Such systems store and manage sensitive, personal, and
personally identifiable information, which is under a huge risk of hacking. Thus,
building a single system that would share data across all institutions is risky, if
not dangerous.
• That’s where blockchain application development can step in to solve the
problem. Healthcare institutions can share data with other network participants
without compromising security and data integrity thanks to blockchain.

• Implementations:
• https://healthverity.com/
• https://www.synaptic-ai.com/
• https://www.synaptic.health/
• https://hashedhealth.com/
Blockchain in REAL ESTATE

• Buying and selling property is associated with some risks: lack of

transparency, a huge amount of paperwork, fraud, errors in public
records. Blockchain erases the need for paper-based records. Real
estate companies can use blockchain to record, track and transfer
land titles and ensure that all documents are accurate and up to
date.
• Blockchain in real estate also speeds up and secures all transactions.

• Implementations:
• https://realt.co/
• http://www.propy.com/
• https://www.ubitquity.io/
• https://imbrex.io/
Blockchain in RETAIL
• When customers buy something, they rely on the seller’s trust or a marketplace that is
offering the product. However, trust is not always justified. There are still counterfeit
products that land on the shop shelves and unsuspicious customers that buy them.
• Blockchain can be used to decentralize the trust and move it from marketplaces and
other eCommerce websites. Instead, decentralized technology offers to create a direct
connection between buyers and sellers.
• Another possible implementation of blockchain in retails is the protection of counterfeit
and authentication of luxury goods. Thus, customers can be assured that they buy
genuine products with no risks of counterfeiting.
• For example, OpenBazaar provides a platform for selling products directly to customers.

• Implementations:
• http://www.warranteer.com/
• https://www.consensys.net/
• https://www.optbazaar.com/
• https://www.overstock.com/
• https://www.expedia.com/
Blockchain in SUPPLY CHAIN
• Blockchain technology has already found its way into supply chain management.
The technology can be used to trace all the steps of a supply chain and provide
complete transparency, even if multiple supply chain partners are involved.
• For example, restaurants can easily track down the origins of the fish they are
using for their meals from ocean to market. The Pacific Tuna Project uses a
decentralized ledger to manage fishing operations and put a stop to illegal tuna
fishing.
• The same use cases can be applied to other sectors, including agriculture,
automobile, fashion, and so on.

• Implementations:
• https://www.provenance.org/
• https://www.blockverify.io/
• https://skuchain.com/
• https://www.fluentco.com/
• https://www.meetpacific.com/
Blockchain in COPYRIGHT & INTELLECTUAL PROPERTY
• Copyright infringement is one of the most pressing problems in the modern
world. While all the traditional methods fail to provide one hundred percent
protection, blockchain is predicted to change the landscape.
• Blockchain-based IP protection systems can be used to solve licensing
issues and enable direct business relationships between creators and their
fans.
• The decentralized technology is already being actively used in different
industries for intellectual rights protection. We can already see numerous
startups in the arts and music industry.

Implementations:
• https://binded.com/
• https://www.bernstein.io/
• http://myceliaformusic.org/
• https://mesh.xyz/
Blockchain in INTERNET OF THINGS (IOT)

• The Internet of Things is another industry that is benefitting from

blockchain implementation. Samsung and IBM are already working on
their concept called ADEPT.
• A decentralized network will allow IoT devices to communicate with each
other directly without the need for a central controlling unit. Thus,
software updates, bug fixing, and energy usage monitoring will be
performed automatically and go unnoticed by users.

Implementations:
• https://adeptnet.org.uk/
• https://arctouch.com/
• https://gridplus.io/
• https://www.chronicled.com/
Blockchain in GAMING
• The gaming industry has successfully turned from leisure to a
serious sport. There are gaming tournaments, high cash prizes and
even a black market.
• Blockchain can solve a number of legacy problems in the gaming
industry.
• For example, users can own their digital characters with all the
assets and skills, and blockchain will protect them from theft.
• Rewards can be paid with digital tokens, which then can be
exchanged for cryptocurrency or fiat money.
• One of the most famous examples of blockchain games is
CryptoKitties which went viral and brought developers millions of
dollars.
Implementations:
• https://www.cryptokitties.co/
• https://dappradar.com/ethereum/games/etherrockets
• https://fomo3d.net/
Blockchain in Social Media
• It was not long ago when social media platforms had engulfed
humans from all directions. However, owing to certain violations
including personal data breaches and minimal compensations for
users, these platforms are starting to lose their popularity. It won’t
be wrong to quote that ‘social media is losing its edge’.
• The technology ameliorates social media platforms to a whole
new level. Blockchain can be used to move foundational social
media to an entirely different level. The technology has the power
to reinvent the very nature of how content and information are
privately distributed and managed in a monetized manner.

Implementations:
• https://starbase.co/
• https://www.acornasia.com/
• https://steem.com/
Blockchain in Cyber Security
• As organizations are getting more dependent on the Internet and technologies for
generating revenue streams and articulating business models, the scope of hackers
to exploit businesses has risen exponentially.
• With their distributed ledger technology, blockchains can essentially enhance cyber
defense. Blockchain platforms can prevent fraudulent activities via consensus
mechanisms and detect data tampering depending on the underlying
characteristics of operational resilience, data
encryption, auditability, transparency, and immutability.
• Being distributed, blockchains do not facilitate a central point of failure and,
thereby, provide more security as opposed to the available database-driven
transactional structures.

Implementations:
• https://guardtime.com/
• https://gatecoin.com/
• https://ripple.com/
• https://www.blockcypher.com/
Blockchain in AI
• Often referenced together as accounting technology disruptors, AI on top of
blockchains can be potentially one of the most powerful and dangerous technologies
that were ever ideated. If we were to decentralize AI, AI algorithms could
become Decentralized Autonomous Organizations (DAO).
• DAOs are organizations that can operate autonomously and in a decentralized way
through smart contracts, without having a central party pulling the strings and
making decisions. When conducted optimally, an AI DAO could take over development
at some point by learning through data to optimize itself much more effectively than
could be done through human designs.
• Together blockchains and AI, or what we can denote as a ‘decentralized AI’, can
drive new possibilities in the realms of data protection, data
monetization, and smart algorithms.

Implementations:
• https://www.savedroid.com/
• https://www.enigma.co/
• https://datum.org/
• https://ai-blockchain.com/
Blockchain in GOVERNMENT
• While blockchains are gradually eliminating the need for centralized government
institutions, it is most likely that the competition between governments and
cryptocurrencies will reach its epitome in the years to come.
• However, governments are aware of the possibilities that blockchains can unsheathe
and therefore are in continuous pursuit to implement the offerings
of blockchains to improve and revamp operational processes.
• Many governments have tended to use blockchains for a variety of reasons.
Countries like Venezuela and Russia are incorporating their own national
cryptocurrencies to drive a sense of transparency and curb corruption. Also,
blockchains can be used to design immutable voting systems where forgery and
fraud will be ruled out as myths. Additionally, identity management and tax
management can also be improved using blockchains.

Implementations:
• https://www.savedroid.com/
• https://www.enigma.co/
• https://datum.org/
• https://ai-blockchain.com/
10 POPULAR APPS USING BLOCKCHAIN

• https://www.shopify.com/
• https://trustwallet.com/
• https://burstiq.com/
• https://www.burst.com/
• http://www.warranteer.com/
• https://compywire.com/
• https://voatz.com/
• https://www.brave.com/
• https://www.propy.com/
• https://realt.co/
Thanks