o The big four accounting firms (Deloitte, Pricewaterhouse Coopers (PwC), Ernst & young

(EY), and KPMG) and many financial institutions have already recognized the importance
of blockchain and thus have launched several projects.

I. SUPPLY CHAIN MANAGEMENT APPLICATIONS

Supply Chain Management- refers to controlling the entire production flow, from acquiring
raw materials to delivering the final product/service at the destination.

Benefits of Blockchain on Supply Chain Management

o holds complete provenance details,
o enhances transparency and accountability in supply chain systems (all suppliers can track
shipments, deliveries, and progress),
o increases trust between suppliers in the chain,
o eliminates middleman auditors (can carry out their own checks and balances at any time),
o effectively and securely helpful to logistics management (smart contracts),
o ensures the genuineness and quality of products (result in reduction in processing times,
management costs, and human errors),
o enables better quality, outcomes, and performance of effective supply chain management
(SCM) processes (improves in facilitating planning, scheduling, coordinating, monitoring,
and validating these activities).

International Business Machine (IBM)- a supply chain consulting services that presently has a
fleet of 1,000 trucks that make over 25,000 deliveries each week on a project combining
blockchain technology with innovative internet of things (IoT) solutions.

IBM Food Trust- blockchain-based food-traceability platform since 2018; modular solution
built on blockchain, benefiting all network participants with a safer, smarter, and more
sustainable food. Nestle, McCormick, and Dole use this IBM food trust in their businesses.

Examples:
o Maersk- a Danish shipping company, is using blockchain to track all its shipments across
the world.
o Provenance- which piloted a traceability project in Indonesia's fishing industry through
mobile phones, blockchain, and smart tagging.

II. HEALTHCARE APPLICATIONS

Electronic Medical Record (EMR)- where patient data and records are digitized and stored;
exposed to patient-privacy violations, outdated data, and incomplete data.

Benefits of Blockchain on Healthcare

o common database of health data and information (doctors, hospitals, patients, and all other
stakeholders can access; doctors can spend less time in doing administrative tasks,
providing more time for patient care, and more research can be shared for new treatments),
o holds the complete medical history for each patient, with multiple granularities of control,
o tamper-resistant means of storing medical history,
 o increased efficiency in providing insurance quotes (minimizing claim and billing fraud),
o precise drug recommendations and drug development (more accessible and ready for
research).

Zhang et al. (2018) identified seven potential blockchain use cases in healthcare:
1. prescription tracking to detect opioid overdose and over-prescription,
2. data sharing to incorporate telemedicine with traditional care,
3. sharing cancer data with providers using patient-authorized access,
4. cancer registry sharing to aggregate observations in cancer cases,
5. patient digital identity management for better patient record matching,
6. personal health records for accessing and controlling complete health history,
7. and health insurance claim adjudication automation to surface error and fraud.

Angeles (2018) discussed in detail three promising healthcare use cases:

1. healthcare data exchange and interoperability,
2. drug supply chain integrity and remote auditing,
3. clinical trials and population health research.

Examples:
o Patientory- a software and service company, offers a blockchain-based application that
securely stores and manages health information in real time, giving patients control of their
own health data.