Blockchain Applications

Tools & Case Studies

MODULE 6
Applications of Blockchain
1. Asset Management
• Asset Management is one of the biggest applications of Blockchain.
•It involves the handling and exchange of different assets that an individual may own such as
fixed income, real estate, equity, mutual funds, commodities, and other alternative investments.
• Normal trading processes in asset management can be very expensive, especially if the trading
involves multiple countries and cross-border payments.
• In such situations, Blockchain can be a big help as it removes the need for intermediaries such
as brokers, custodians, brokers, settlement managers, etc.
•Instead, the blockchain ledge provides a simple and transparent process that removes the
chances of error.
2. Cross-Border Payments
• Blockchain has helped in simplifying these cross-border payments by providing end-to-end
remittance services without any intermediaries.
•There are many remittance companies that offer Blockchain services which can be used to make
international remittances within 24 hours.
3. Healthcare
• Blockchain can have a big impact on healthcare using smart contracts and healthcare is one of
the biggest applications of blockchain.
•These smart contracts mean that a contract is made between 2 parties without needing any
intermediary.
•All the parties involved in the contract know the contract details and the contract is
implemented automatically when the contract conditions are met.
•This can be very useful in healthcare wearing personal health records can be encoded via
Blockchain so they are only accessible to primary healthcare providers with a key.
Five key use cases for blockchain in the development of digital health:
Supply chain transparency
Patient-centric electronic health records
Smart contracts for insurance and supply chain settlements
Medical staff credential verification
IoT security for remote monitoring
4. Cryptocurrency
• One of the most popular applications of Blockchain is in Cryptocurrency.
• One of the many advantages of cryptocurrency using blockchain as it has no geographical
limitations. So crypto coins can be used for transactions all over the world.
•The only important thing to keep in mind is exchange rates and that people may lose some
money in this process.
• this option is much better than regional payment apps.
 5. Birth and Death Certificates
• There are many people in the world who don't have a legitimate birth certificate, especially in
the poorer countries of the world.
• According to UNICEF, one-third of all children under the age of five don't have a birth
certificate. And the problem is similar to death certificates as well.
• However, Blockchain can help in solving this problem by creating a secure repository of birth
and death certificates that are verified and can only be accessed by authorized people.
6. Online Identity Verification
• It is not possible to complete any financial transactions online without online verification and
identification. And this is true for all the possible service providers any user might have in the
financial and banking industry.
• However, blockchain can centralize the online identity verification process so that users only
need to verify their identity once using blockchain and then they can share this identity with
whichever service provider they want.
• Users also have the option to choose their identity verification methods such as user
authentication, facial recognition, etc. Among the several applications of Blockchain, this
application is widely used blockchain application is the entire industry.
7. Internet of Things
• The Internet of Things is a network of interconnected devices that can interact with others and
collect data that can be used for gaining useful insights. Any system of "things" becomes IoT
once it is connected.
•The most common example of IoT is perhaps the Smart Home where all the home appliances
such as lights, thermostats, air conditioners, smoke alarms, etc. can be connected together on a
single platform.
•Blockchain is needed for providing security for this massively distributed system.
• In IoT, the security of the system is only as good as the least secured device which is the weak
link. Here Blockchain can ensure that the data obtained by the IoT devices are secure and only
visible to trusted parties.
8. Copyright and Royalties
• Applications of blockchain have also touched the Creative industry as well.
• Copyright and royalties are a big issue in creative sectors like music, films, etc.
• These are artistic mediums and it doesn't sound like they have any link with Blockchain. But this
technology is quite important in ensuring security and transparency in the creative industries.
• There are many instances where music, films, art, etc. is plagiarized and due credit is not given
to the original artists.
• This can be rectified using Blockchain which has a detailed ledger of artist rights. Blockchain is
also transparent and can provide a secure record of artist royalties and deals with big
production companies.
• The payment of royalties can also be managed using digital currencies like Bitcoin
9. Application of Blockchain in Education
1. Student Records & Academic Credentials
• Blockchain can securely store student transcripts, degrees, and certificates in a tamper-proof
way.
• Eliminates the need for third-party verification by employers or universities.
• Example: Instead of waiting weeks for a university to verify a degree, recruiters can instantly
check the authenticity on a blockchain.
2. Identity & Digital Diplomas
• Students can have a digital identity wallet that contains all their learning credentials.
• Universities can issue digital diplomas that are immutable and verifiable globally.
• Reduces the problem of fake degrees and fraudulent claims.

3. Examination & Assessment Security

• Blockchain can be used to record exam results and assessments securely.
• Ensures transparency in grading and prevents manipulation of marks.
• Smart contracts can automate processes like releasing grades only after certain conditions are
met.
4. Learning Path Tracking (Lifelong Learning)
•
Students today learn not just in schools/universities but also on MOOCs (Coursera, Udemy, edX,
etc.).
• Blockchain can act as a central record of lifelong learning from different institutions.
• Supports personalized learning journeys and skill portfolios.
5. Intellectual Property Protection
• Research papers, projects, and student innovations can be time-stamped on blockchain.
• Provides proof of ownership and protects intellectual property rights.
• Encourages students and researchers to share their work without fear of plagiarism.
6. Financial Management
•Universities can use blockchain for scholarships, grants, and fee payments.
• Cryptocurrencies or stablecoins can be used for cross-border fee transactions, reducing costs.
• Smart contracts can automatically release funds once performance conditions are met.
7. Decentralized Learning Platforms
• Blockchain enables peer-to-peer learning platforms where educators and students interact
directly.
• Smart contracts can handle micro-payments for courses, tutorials, or content.
• Promotes decentralized and open education models.
8. Fraud Prevention
• Fake degrees, forged certificates, and manipulated student records are a big issue worldwide.
• Blockchain provides trust and transparency since data, once recorded, cannot be altered.

Institutions can join a consortium blockchain to validate all issued credentials.

9. Global Collaboration & Student Mobility

• Blockchain makes it easier for students to move between countries and institutions. Their verified
records can be accessed globally without delays.
•Supports international education and exchange programs.
Real-World Examples
• MIT Media Lab: Issues blockchain-based digital diplomas.

• University of Nicosia (Cyprus): First university to accept Bitcoin for fees and issue
blockchain-based certificates.

• Sony Global Education: Uses blockchain to share student progress securely.

In short, Blockchain in education provides secure, transparent, and efficient management of
records, credentials, and learning processes, making education more reliable, global, and
student-centered.
Applications of Blockchain in Supply
Chain Management
(https://www.paltron.com/insights-en/the-role-of-blockchain-in-sup
ply-chain-management-scm)
SCM is an enormous sector and is the main skeleton of every
industry .
Challenges and Limitations of Blockchain in
Supply Chain Management
(https://www.oracle.com/in/blockchain/what-is-blockchain/blockchain-for-supply-chain/)
•Integration with Existing Systems
•Cybersecurity and Data Privacy Concerns
•Scalability Issues
•Legal and Regulatory Uncertainty
 Benefits of Blockchain in Supply Chain
The key blockchain features of Bitcoin align with the basic needs for reliability and integrity in a
supply chain.

1. Consensus
• All the entities in the chain agree that each transaction is valid. For Bitcoin, that means a
transfer of an amount of Bitcoin. For supply chain, it could be:
• A shipment arrived at the warehouse
• A payment was made
• A product passed quality control
2.Provenance

• The entities in the chain know where each asset originated. They also know who owned it
before and at what time.
•For Bitcoin, the asset is money. For supply chain, assets can be anything from iron ore and
wheat to cash, machines, and copyrights.

3.Immutability
• No entity can tamper with an entry in the distributed ledger. It is not possible to erase a Bitcoin
transaction. Only a new Bitcoin transaction can reverse the effect of a previous one.
• Similarly, with blockchain, it would not be possible to falsify a supply-chain payment transaction
or the records of inventory, warehousing conditions, delivery times and dates, and so on.
 Blockchain in Supply Chains: Case
Study
• Consider Tracifier, a German startup providing supply chain traceability solutions.
• Tracifier’s offerings include verification and tracking across the supply chain.
• In particular, the company sought to make it easier to track, trace, and verify food
products—where they originated, when they were produced, and the relevant safety standards
and inspections.
• Tracifier saw a path to this through blockchain technology and integrated Oracle Blockchain into
its supply chain management database.
• The company then launched a transparent and immutable digital ledger that authenticated the
validity of transactions and records. For customers, the blockchain ensures reliable and accessible
data for every step.
• Smart contracts, process automation, and greater transparency helped Tracifier’s customers
reduce food processing costs by up to 40%.
• In addition, Tracifier saw its own operational improvements with greater efficiency, fewer
delays, and reduced costs.
• Blockchain technology is evolving, and its potential applications in supply chain management
are constantly expanding.
 Blockchain and the Energy Industry
• The energy industry traditionally operates using a centralized, legacy system. Large power plants and
grids serve a certain geographic area, and consumers pay utility companies to distribute electricity to
their locations.
• This century-old model is facing multiple challenges, including failing infrastructure, more frequent
climate disasters, and poor communication due to outdated, siloed systems.
• The centralized energy model also puts consumers at a disadvantage because it limits the effective use
of transactive energy.
• In a transactive energy system, power can be generated anywhere, using distributed energy resources
like solar panels, wind-generating units, and battery storage.
• The energy produced can be used locally, or sold to the grid for use elsewhere. With a transactive energy
system, this can happen automatically and seamlessly.
• In a centralized model, trading energy between locations can be slow and cumbersome.
Additionally, traditional power plants often rely on nonrenewable energy sources, like coal or
natural gas.
•Blockchain can help facilitate the transition to a more sustainable, distributed, stable, and
equitable transactive energy system.
• By using a blockchain network, utilities and consumers can facilitate transactions through smart
contracts and fully participate in the energy economy.
 Blockchain Applications in Energy

Use Case #1: Peer-to-Peer Energy Trading

• One of the main benefits of transactive energy is the potential for peer-to-peer energy trading.
• Renewable energy is becoming more popular as consumers want to make sustainable changes.
Consumers can sell their excess energy back to the central power grid, but transactional costs can be
high.
• Using blockchain, consumers can purchase and sell energy among their neighbors, which has a
lower transactional cost.
• Blockchain also supports the creation of virtual micro grids, digital platforms that can operate
autonomously from central utility authorities.
• Consumers can leverage virtual microgrids to manage, validate, record, and settle energy
transactions in real time across distributed energy resources. Under this system, consumers have the
power to produce energy on their own and sell the excess back to their peers on a pay-per-use basis.
Use Case #2: Electricity Data Management

• Blockchain technology can help provide consumers with greater control and efficiency over
their energy resources.
• Instead of relying on applications from energy companies, consumers can use their blockchain
platform to manage their energy usage and resources. Additionally, blockchain provides a
greater level of transparency and security because another user cannot alter transaction
records.
• Blockchain platforms provide access to secure and real-time updates of energy usage data,
helping consumers quickly manage their efficiency.
• Consumers can also configure their smart contracts to meet their transaction thresholds,
helping automate and facilitate valuable energy transactions.
Use Case #3: Wholesale Electricity Distribution

• Wholesale electricity distribution is another exciting use case for blockchain in energy
applications.
• To diversify their businesses, energy companies may want to offer a way for consumers to trade
and purchase energy directly from the grid.
•Companies can facilitate these transactions using blockchain technology and Internet of Things
(IoT) devices.
• IoT devices have sensors that collect certain data points, such as information on performance,
usage, security threats, and more. Using IoT data, companies can continuously monitor the
performance of the grid and identify when excess energy is available. Companies can integrate
IoT devices with their blockchain networks.
• With blockchain technology and smart contracts, companies can automate energy transactions
for wholesale electricity distribution. They can eliminate the need for employees to monitor
and analyze data manually, improving efficiency and streamlining productivity.
Blockchain in Logistics
(https://www.ennomotive.com/blockchain-applications-in-logistics/)
1. Inventory Tracking
2. Improve Freight and Shipping
3. Invoicing and Payments
4. Authenticity Verification
5. Improving Transparency
6. Create Fair Freight Marketplace
7. Dispute Resolution
 Blockchain Tools
• List of blockchain tools organized by category to help you understand the ecosystem better.
1. Platforms,
2. Development tools,
3. Testing,
4. Analytics
1. Blockchain Platforms
These are full-fledged blockchain networks or frameworks used to build and run decentralized applications
(dApps), smart contracts, or distributed ledgers.
Tool/Platform Type Description
Ethereum Public Most widely used for dApps and smart contracts

Hyperledger Fabric Permissioned Enterprise blockchain for private networks

Quorum Permissioned Ethereum-based blockchain for enterprises
Corda Permissioned DLT platform for financial and regulated sectors
Ripple Public Optimized for fast cross-border payments
Stellar Public Focuses on financial services and remittances
Polkadot Public Interoperable blockchain ecosystem

Tezos Public Supports on-chain governance and self-upgrades

Avalanche Public High-performance smart contracts and dApps

Solana Public High-speed blockchain for scalable dApps
 2. Smart Contract Development Tools
Tool Use Description
Tool Use Description
Solidity Solidity
Programming Most common smart
Programming
contract
Most common smartlanguage
contract (Ethereum)
language (Ethereum)
Vyper Vyper Programming Python-like language
Programming for language
Python-like smart contracts
for smart
contracts
End-to-end development environment for
End-to-end development
Truffle Suite Framework
Truffle Suite Framework
environment for Ethereum
Ethereum
Modern Ethereum
Hardhat Framework
development with local testing
Hardhat Framework Modern Ethereum development with local testing
Web-based smart contract
Remix IDE IDE
development and testing
Web-based smartPython-based
contract development
development
for and
Remix IDE IDE
Brownie Framework
testing Ethereum
Framework for building and
Brownie Embark Framework Framework
Python-based development for Ethereum
deploying dApps

Embark Framework Framework for building and deploying dApps

3. Testing and Simulation Tools

Tool Description

Ganache Personal Ethereum blockchain for testing

EthFiddle Online Solidity code testing

Tenderly Real-time smart contract monitoring and debugging

MythX Security analysis for smart contracts

Manticore Symbolic execution tool for security testing

4. Wallets and Key Management Tools
Tool Description

MetaMask Browser extension wallet for Ethereum

Trust Wallet Mobile multi-chain wallet

Ledger Hardware wallet for secure private key storage

Gnosis Safe Multi-signature wallet for Ethereum teams

WalletConnect Protocol to connect wallets with dApps securely

5. Analytics and Monitoring Tools
Tool Description
Etherscan Block explorer for Ethereum
Blockchair Explorer for multiple blockchains
Dune Analytics Custom dashboards and SQL queries on blockchain data
The Graph Indexing protocol for querying blockchain data
Infura API to access Ethereum and IPFS nodes remotely
6. Interoperability and Layer 2 Solutions
Tool Description
Chainlink Decentralized oracles for external data access

Polygon Ethereum-compatible sidechain for scaling

Layer 2 rollup for faster, cheaper Ethereum
Arbitrum
transactions
Optimism Layer 2 scaling solution using optimistic rollups
Framework for building interoperable blockchain
Cosmos SDK
apps
7. Storage and Infrastructure Tools

Tool Description

IPFS Decentralized file storage protocol

Filecoin Blockchain-based incentive layer for IPFS

Arweave Permanent decentralized storage

Pinata IPFS pinning and file management service

8.Utilities

Tool Description

OpenZeppelin Reusable smart contract libraries and security audits

Alchemy Developer platform for Web3 infrastructure

Moralis Backend-as-a-service for dApps

QuickNode Blockchain API access and analytics

Forta Real-time threat detection for smart contracts

Different Blockchain Platforms
1. Ethereum:
• Ethereum is one of the most well-known blockchain platforms, known for pioneering smart
contracts and decentralized applications (DApps).
• It uses a Proof of Stake (POS) consensus mechanism (transitioning from Proof of Work) to
validate transactions and is highly programmable, allowing developers to create a wide range of
DApps.
• Ethereum's native cryptocurrency is Ether (ETH), and it has a strong developer community,
making it a popular choice for decentralized finance (DeFi) projects, NFTs (Non-Fungible
Tokens), and more
2.Binance Smart Chain (BSC):

• Binance Smart Chain is a blockchain platform developed by the Binance cryptocurrency

exchange.
•It offers fast transaction processing and low fees, making it attractive for DeFi projects and
token creation.
• BSC is compatible with the Ethereum Virtual Machine (EVM), meaning many Ethereum-based
DApps can be easily ported to BSC.
• Binance Coin (BNB) is the native cryptocurrency used for transaction fees and governance.
 3.CARDANO

• Cardano is a blockchain platform known for its emphasis on research

and academic rigor.

• It uses a PoS consensus mechanism and is designed to be highly

scalable, secure, and sustainable.

• Cardano separates its layers, allowing for smart contracts on a separate

layer to improve security and flexibility.

• ADA is the native cryptocurrency.

• Cardano aims to provide a platform for financial and social applications

4.Polkadot
• Polkadot is a multi-chain platform designed to facilitate interoperability between different
blockchains.
• It uses a unique relay chain to connect and secure multiple parachains (customizable
blockchains).
• This approach enables cross-chain-communication and the sharing of information and assets.
Polkadot's DOT token is used for governance and bonding
5.Tezos:
• Tezos is a blockchain platform known for its on-chain governance and the ability to upgrade
itself through formal mechanisms.
• It uses a PoS consensus mechanism and focuses on security and formal verification of smart
contracts.
• XTZ is the native cryptocurrency, and Tezos is used for various applications, including DeFi,
digital collectibles, and supply chain solutions.
• These blockchain platforms offer diverse features and cater to different use cases.
6. CORDA
• A distributed ledger made up of mutually distrusting nodes would allow for a single global database that
records the state of deals, obligations and other agreements between institutions and people.
• This would eliminate much of the manual, time consuming effort currently required to keep disparate
ledgers synchronised with each other.
• It would also allow for greater levels of code sharing than is currently typical in the financial and other
industries, reducing transactions costs for everyone.
• Corda, a software implementation which is designed to achieve these goals, and a network to which
Corda nodes deployed by a broad range of operators can be connected to be assured of mutual
interoperability.
• The Corda platform consists of an open source software project, Corda, and a set of standards, network
parameters and associated governance processes, which together define the global Corda Network.
•Collectively, they enable any organization or individual on this open network to transact directly with
any other.
• Uniquely, this architecture is designed to model and automate real-world transactions in a legally
enforceable manner, and do so across an open network on which multiple applications can execute and
seamlessly interoperate.
CORDA
• The real-world asset (RWA) tokenization platform powering financial digitalization.
• Corda is powering the digitalization of assets and currencies connecting global markets.
• Use Corda to build customizable DLT solutions that prioritize security, faster transactions, and
greater control for regulated markets.
• Only Corda offers a permissioned ledger, asset modeling capabilities and a multi-party workflow
engine all in one flexible and scalable platform.
•Corda is the world’s leading open, permissioned distributed application platform powering the
tokenization of assets and currencies in regulated markets.
•R3’s Corda leverages cloud-native technologies for scalable and configurable app deployments.
• Designed for open, trusted and advanced digital economies
• Corda is powering the digitalization of assets and currencies for governments, central banks and
regulated institutions globally.
• Corda’s architecture is purpose-built and informed by feedback from the world’s leading
financial institutions operating at scale. Build multi-party applications on a scalable, modern,
and flexible foundation .
 Features of Corda
• Scale: The network will scale to support billions of transactions daily across industries.
• Longevity : Different versions of Corda will be able to coexist on the same network and applications
will continue to run on later versions.
• Secure :This system will operate under the assumption of an adversarial security environment.
• Stable: The network will evolve carefully, with consensus-critical “network parameters” maintained
through a transparently governed process.
• Interoperable: The platform is designed to allow multiple applications to coexist and interoperate on
the same network; a standardized set of interfaces for contracts are included to maximize
interoperability from a diverse range of providers; the Corda software is implemented on industry
standard tools to maximize deplorability and integration with existing enterprise infrastructures.
Concepts
• A transaction between a group of parties is visible only to them, and to those whose own view
of the ledger in the future may depend on verifying the validity of this transaction.
• State object, which is a digital document which records the existence, content and current
state of an agreement between two or more parties.
• It is intended to be shared only with those who have a legitimate reason to see it.
• To ensure consistency in a global, shared system where not all data is visible to all participants,
we rely heavily on secure cryptographic hashes to identify parties and data, and to link states to
previous versions to provide chains of provenance.
•The ledger is defined as a set of immutable state objects.