Block Chain Applications - Part I

 Here are the outline of several industries that can significantly benefit from the integration of blockchain technology. Here’s a summary of the key points discussed[1]. Along with one example application listed for getting hands-on. 

- **IoT (Internet of Things)**: Combining blockchain with IoT can overcome fundamental limitations, making IoT systems more secure, transparent, and decentralized. Examples like IBM Watson IoT blockchain and IBM Blue Horizon showcase practical applications and experimentation with blockchain-based IoT networks. Gujarat Narmada Valley Fertilisers & Chemicals (GNFC) is one of the largest fertilizer manufacturing companies in India, with products sold all across the country. Owing to its scale and pan-India presence, GNFC operates over a large and complex supply chain. A proof of concept is developed with the GNFC using the IoT and blockchain [2].
  

Figure 1. GNFC block chain based business workflow

- **Government Sector**: Blockchain can improve transparency, security, and efficiency in various government processes, including homeland security, identification systems, and benefit disbursements. There is a National block chain framwork development and installed as portal NBFLite[1] [3].

- **Finance Sector**: While the finance industry is keen to explore blockchain, there are still hurdles to overcome before fully production-ready blockchain-based financial systems can be implemented and more in Part II(yet to come)

Reference

1. Bashir, Imran. (2020). Mastering Blockchain 3rd Edition.
2. Blockchain the India Strategy 
3. Government launches Vishvasya-Blockchain Technology Stack
4. NBF Lite a CDACC platform