Blockchain

Customer Identification: Using digital identity markers such as fingerprints or retina scans based on blockchain for identification instead of documents reduces check-in times and queues at airports without the risk of frauds

Loyalty Programs: Blockchain can help eliminate the hassle of redeeming loyalty points from different providers by storing the points in a single digital wallet. This allows customers to access and redeem all of their airline, hotel and travel company loyalty points from a centralized location

Inventory Tracking: Use of blockchain allows multiple parties to access a single database in which all transactions are recorded and time-stamped. This enhances transparency, prevents thefts, improves regulatory compliance, reduces paperwork and lessens costs significantly

Invoicing and Payments based on blockchain-led smart contracts simplify payments while ensuring transparency and security. Smart contracts automatically implement the terms and conditions between different stakeholders and track the transactions between them at every touchpoint

Underwriting using blockchain can help automate and shorten the process, reducing the cost of operations as external data can be included to decrease the risk liability. Blockchain brings transparency and improves trust by enabling shared visibility in complex multinational programs

Fraud Detection: Using a distributed ledger helps validate the authenticity of customers, policies, and claims by providing complete historical records to help identify fraudulent claims or duplicate transactions

Underwriting using blockchain can help automate and shorten the process, reducing the cost of operations as external data can be included to decrease the risk liability. Blockchain brings transparency and improves trust by enabling shared visibility in complex multinational programs

Fraud Detection: Using a distributed ledger helps validate the authenticity of customers, policies, claims by providing complete historical records to help identify fraudulent claims or duplicate transactions

Digital Ledgers can be created using blockchain to record patient information with conditional access for different stakeholders. Each interaction with the patient's data is recorded on the ledger as a time-stamped transaction

Drug Traceability is enabled through blockchain by tagging and tracking drugs at each stage of the medical supply chain. All of this information is recorded on the blockchain to assure authenticity and tackle the menace of counterfeit drugs

Supply Chain Management using blockchain benefits from a single unified source of data and a transparent trail for all the vendors involved. It helps companies trace problems with a specific product or component thereby increasing the quality of services and decreasing the cost of maintenance

Maintenance Tracking using blockchain by suppliers and component manufacturers is done by tagging their products and tracing the product’s service and maintenance history

Grid Management based on blockchain makes existing processes more efficient by automatically diagnosing network emergencies / issues and reconfiguring them to avoid any recurrences

Peer-to-Peer Energy Trading through a decentralized system using blockchain reduces overall energy costs and improves flexibility in sourcing power

Payment Reconciliation : Blockchain enables payment reconciliation among multiple entities within or outside an organization involving strategic suppliers, along with periodic settlement and net-off of all pending transactions. This eliminates hours of audit and reconciliation effort, enhances reconciliation speed and accuracy, and introduces complete transparency in the settlement process

Contract - Purchase Order - Invoice Tracking: Blockchain can be used for the tracking and monitoring of the document life cycle starting from contracts to managed services agreement to purchase orders and invoices, with auto invoice matching and settlement. This ensures end-to-end traceability of the process thereby improving operational efficiencies while enhancing auditability and compliance

The blockchain-based risk syndication solution is a decentralized, single version of truth offering complete transparency and auditability to customers, brokers and insurance carriers

It enables digitization of the end-to-end policy creation process resulting in reduced cycle time to an estimated <10days from the current cycle time of >30days and faster policy roll-out thus enhancing the customer experience

Blockchain reduces selective carrier preference based on human judgement and instead focuses on the logical selection of carriers by the broker

Blockchain offers digitized consensus-based syndication resulting in data consistency to overcome disputes and increase cooperation among the parties involved

Easy and timely disbursal of premium to carriers along with improved cash flow and reduction in overdue debt resulting in reduced probabilitiy of disputes