Most people picture Bitcoin, Ethereum, and everything in between when they hear the word “blockchain.” However, behind the glitzy words, blockchain is a technology that has silently become one of the core pillars for businesses and governments across the globe.
Blockchain technology is reinventing business operations, from digitizing supply chain workflows to securing employee records – often without much public attention. As someone who has worked in tech startups and public sector consulting, I have observed in my lifetime how blockchain is revolutionizing the systems that I believed were immutable.
Let’s now discuss three of the most important and authentic examples of the utilization of blockchain and their relevance today.
Supply Chains: Verification from Port to Shelf
Blockchain-based global supply chains have seen some of the earliest and most advanced implementations of this technology. TradeLens is a blockchain-based logistics platform created by Maersk and IBM. They now connect over 300 companies in 600 ports.
I remember doing some consulting work for a textile exporter in Jaipur. He had a problem with shipment delays and misplaced paperwork. Integrating a blockchain-based tracking system solved their customs clearance bottleneck and improved delivery precision.
With blockchain, every stakeholder can access the transparent ledger, so all manufacturers and retailers have the same information, which minimizes contradicting information and inefficiencies.
Employee Monitoring and Records
It is becoming common for recruitment companies to verify candidate credentials and securely store employee records using blockchain technology. This might not seem like a straightforward application, but human resource management is sensitive to employee data.
Along with blockchain technology, Controlio improves security with its employee tracker tool detailing application and website usage. Data reported by Controlio can be stored on blockchain, ensuring access is protected to authorized personnel and records cannot be altered.
Comprehensive employee monitoring is also available on Insightful, and all these tools, when enhanced with blockchain technology, allow productivity to be measured securely while respecting privacy.
I worked with a technology company that sought guidance on monitoring remote employees. Using blockchain-integrated monitoring systems increased productivity and trust among teams.
Digital Identity: Empowering the People and Improving Service Delivery
An example of transformative use of blockchain technology is digital identity systems. The country of Estonia, for example, has executed a blockchain national ID system, which enables citizens to access services securely and efficiently.
These systems enable individuals to have self-sovereign identities—digital IDs that transition with them from one jurisdiction to another and are controlled by the individual as opposed to a centralized authority. It minimizes data leaks as there is less dependence on centralized databases.
In India, where Aadhaar has already digitized identity for over a billion people, blockchain integration could offer stronger security and control over managing identities. Picture a scenario where your DigiID no longer merely represents a digitized number but a secured blockchain-verified credential that you, not the government, control.
Conclusion: The Quiet Transformative Impact Blockchain Technology
People’s focus is usually directed to cryptocurrencies, but it is the technology behind it—blockchain—that is significantly impacting industries’ and governments’ operations. Be it securing supply chain operations, safeguarding employees’ data, or empowering citizens with digital identities, blockchain technology is transforming operations under the radar.
In the future, adopting blockchain technology outside of cryptocurrencies can provide us with new, secure, efficient, and transparent systems. Whether you are a business executive, a government representative, or simply an interested member of the public, you should notice the impact that blockchain is having on our reality—usually out of sight.