By Ashish Mehta, Co-chair, CSA Blockchain/Distributed Ledger Working Group
CSA’s newest white paper, Beyond Cryptocurrency: Nine Relevant Blockchain and Distributed Ledger Technology (DLT) Use Cases, aims to identify wider use cases for both technologies beyond just cryptocurrency, an area with which both technologies currently have the widest association.
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 the purpose of this document, we considered a use case as relevant when it provides 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 production environment, we also identified six separate stages of maturity—concept, proof of concept, prototype, pilot, pilot production, and production—to get a better assessment of how much work has been done within the scope and how much more work remains to be done.
Some of the industry verticals which we identified are traditional industries, such as shipping, airline ticketing, insurance, banking, supply chain, and real estate, all of which are ripe for disruption from a technological point of view.
We also clearly identified the expected benefits from 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.
Future iterations of this document will provide updates on these use cases, depending on the level of progress seen over time. We hope this document will be a valuable reference to all key stakeholders in the blockchain/DLT ecosystem, as well as contribute to its maturity.
The success of the Beyond Cryptocurrency: Nine Relevant Blockchain and Distributed Ledger Technology Use Cases is the result of the dedicated professionals within the Blockchain/Distributed Ledger Working Group and would not have been possible without the expertise, focus, and collaboration of the following working group members:
- Nadia Diakun
- Raul Documet
- Vishal Dubey
- Akshay Hundia
- Sabri Khemissa
- Nishanth Kumar Pathi
- Michael Roza
Download Beyond Cryptocurrency now.