Traceability – Our Top 6 Legitimate Uses for Distributed Ledger Technology
6. Real Estate, Land & Auto Title Transfers
Whether you’re buying or selling land, a house, or a car, you’ll need to transfer or receive a title.
Using Blockchain (a distributed ledger technology aka DLT) you would have the capabilities to store titles on the chosen network which could include critical information of the property, giving the parties involved an immutable history and crystal-clear picture of legal ownership.
By eliminating the need for paper titles, the DLT would essentially eliminate fraudulent sales, money laundering & paper trail confusion.
5. Digital Voting
After the 2016 election it has become extremely apparent that governments need a sure way to eliminate voter fraud.
Distributed Ledger Technologies can offer the ability to vote digitally, but would be transparent enough that any regulators would be able to see if the results were tampered with on the network. It combines the ease of digital voting with the immutability (i.e., unchanging nature) of a DLT to make your vote truly count.
4. Digital Identification
Over a billion people do not have government issued id’s in impoverished countries worldwide. This limits their ability to do any form of banking, buy real estate, own a business or other transaction that require identification.
Technologies such as Blockchain could completely change the landscape and offer the ability to control their digital identities opening doors to opportunities that they do not currently have access to.
3. Loyalty Rewards Programs
Trustless distributed ledger technologies, allow loyalty reward program providers, administrators, system managers, customers, etc. to intersect and interact in one system without intermediaries and without compromising privacy or competitiveness.
For loyalty rewards program providers, we believe that a DLT has the potential to
streamline execution and administration of their
programs with near-real-time transparency, resulting in cost savings that can be realized in the medium term.
2. Monitor Supply Chains
Pinpointing inefficiencies in a supply chain can be difficult and very time consuming when you do not have an effective process management system.
The Blockchain comes in handy when monitoring the supply chain throughout the entire process. By removing paper based trails, the Blockchain identifies the bottlenecks within the chain and allows for process improvement, which in turn reduces waste and expensive inefficiencies.
1. Trustless Business Process Management
Just as pinpointing inefficiencies in a supply chain is important, having the ability to trace processes across multiple industries is critical. The diagram is a visual representation of ineffective communication vs a very simplified CorTek TAAS BOT using bi-directional interaction that becomes immutable in the distributed ledger chain.
Government, health care, farm to table, cannabis quality & compliance, environmental, oil & gas, hydro, forestry and other industries require an immutable data chain that provides permissioned access to information that was not previously possible across multiple roles and groups or agencies.
Imagine a Trustless Business Process Automated System that allowed multiple agencies or groups a way to interact and move through a process timeline securely with efficiency, not using emails and non-secure paths of communication. This immutable system would allow the agencies to share the “public” information and retain privacy for the “private” information held within the collaborating agencies.
A large project such as a pipeline or hydro project has many agents or groups working towards a common goal. You have indigenous communities, environmental studies, contractors, regulators, government, stakeholders etc all with a role to play. Much of the information on the project for each group is private but for the data that needs to be shared among the various groups, it can be shared with a distributed ledger automated process manager like the CorTek TAAS.
CorTek TAAS uses a swimlane process that connects the various groups together at the appropriate intersections throughout the process.
Our team at CorTek, boasts over 70 years of experience between them. We have an incredible amount of accumulated experience in programming structures, economic development, professional project management, dev ops and business development.
If you would like more information or to discuss how our Traceability as a Service Platform could benefit your business, shoot us a message today and we will get back to you within 48 hours.