Hype or help: the real benefits of blockchain
There are many blockchain studies, most of which emphasise generic benefits and focus on the financial sector. In addition, many myths are circulating, and there is general uncertainty because blockchain, DLT and Bitcoin are not yet well understood. The problem is to find industry-neutral yet relevant and concrete application possibilities and to present them understandably from a business perspective. Together with partners from various industries (energy, insurance, pharmaceuticals, healthcare, precious metals, ICT, and security solutions), we have created an orientation framework for using blockchain technology. We identified and analysed potential applications in areas like i) self-managed (electronic) identities for secure identification of persons, organisations and objects in the digital space, ii) product tracking to increase product safety and transparency along supply chains, and iii) management of sensitive health data for a higher quality of diagnosis and treatment without compromising data security. Our findings are that in the use cases, the decentralised and distributed architecture creates a more robust and efficient digital infrastructure and reduces concentrations of power and dependencies.
Authors: Jan Bieser & Daniel Fasnacht
Publication: 9 February 2023
Gottlieb Duttweiler Institute, Social and Economic Studies, Zurich