Examples of Industries Successfully Using the Blockchain Technology

20 January 2019 | Weronika Masternak | blockchain development

Can your company use the Blockchain technology? Learn about the industries that benefit from the advantages of this solution – such as transparency and decentralisation – and find numerous business applications for it.

From the article you will learn:

  • what is the Blockchain technology;
  • what algorithms and methods does Blockchain use;
  • which industries use the technology based on chains of blocks;
  • which companies should implement Blockchain-based solutions.

In 2009, the world went crazy for Bitcoin, that is the first decentralised digital currency. Since then, it solves the problem of transferring money between different public accounts, without the need for additional bodies or a central server. All transactions are public and stored in a distributed database. This project has inspired other industries; companies are more and more willing to use the Blockchain technology, and chains of blocks are widely used by them.

Information storing and data up-to-dateness

Blockchain is a solution with minimal risk. This technology is distributed and decentralised. Blockchain ensures privacy and data safety; it is a faster and cheaper solution than the average centralised system. The data is not stored in any location – it is copied and updated on many different devices connected to each other, forming a kind of network. The processed data is public and verifiable at any time.

Digital resources security and digital identity

In order to make sure that the transaction is legal and comes from a trusted source, Blockchain uses cryptographic methods and algorithms. The identity of every person who uses solutions based on the Blockchain technology is hidden behind random characters. Through cryptography, you can quickly prove that the given resources belong to a specific person. Each user automatically becomes the owner of a private key, thanks to which only they can create digital signatures.

Industries using the Blockchain technology

These several technological advantages mentioned above make more and more companies from various economy sectors interested in implementing Blockchain-based solutions into their structures.

Blockchain and law

Contracts are ideally suited for legal tasks, as they can replace the existing instruments of proxy creation. Smart contracts are based on creating a code that contains principles and other information necessary for its implementation. Automatic execution of this code in a Blockchain-based network is guaranteed only when the defined conditions are met. The code is executed independently of the interested parties, so it can replace the intermediary (e.g. a lawyer) in a legal process. In addition, the majority of the procedures associated, for example, with valuation of real estate, can also be automated and become more objective. At the current development stage of the Blockchain technology it is possible to create advanced and multi-stage contracts covering the entire process, from submitting the application to closing the transaction.

Blockchain and banking

As has already been mentioned before, Blockchain is a transparent, distributed and decentralised technology, what currently causes the largest banks to use this technology to reduce the costs and time of international transactions. Blockchain creates a new digital reality in the world of payments, and banking institutions already benefit from the advantages of the Blockchain and its infrastructure, among others – to make transactions, optimise the costs related to trading in securities, international transfers and auditing.

The technology reduces the possibility of making an error by an individual user, and in addition – when such an error occurs, it can be located much faster. Financial institutions or banks no longer have to worry about creating backup copies of their documents – Blockchain allows you to save information in blocks that are not edited or deleted. In addition, when any interference with the structure of the blocks occurs, it is easy to identify the perpetrator. All transactions carried out using this technology are made in real time, without any intermediaries, while maintaining a greater process integrity. Interestingly, some financial institutions take into account the creation of their own asset-backed digital currencies (cryptocurrencies). The designed tokens will allow for faster and more convenient execution of transactions, and ensure users' security.

Blockchain and power industry

The majority of Blockchain's research or pilot projects in the field of power industry concentrate on creating a peer-to-peer market for providing electricity, as well as settling transactions and micropayments. The electricity market is trying to reduce the total costs of purchasing electricity by removing external agents or additional partners. The blockchain technology offers such possibilities; it allows you to conclude energy sales transactions in a short time and in a direct way, without the need for a central representative. Moreover, Blockchain enables clients to purchase electricity directly, using a ”peer to peer” approach. This approach bypasses central servers and other institutions that oversee the purchase, while ensuring that all hosts in the network have the same rights. Micropayment services also help to minimise or eliminate the need for third parties, increase clients' versatility, and improve security.

Is Blockchain right for your company?

Many company representatives wonder whether it is worth to implement the Blockchain into business that they run. The answer is: it depends. First and foremost, you should take into account the business needs, and then link them to the advantages of the technology in a thoughtful and objective manner. Blockchain is not a perfect solution; it is worth to be aware of its weaknesses, and the need to incur adequate financial and executive expenses. A properly chosen Software House or Technology Partner can help you create a Blockchain-based system, that will be tailor-made to your needs, business challenges and opportunities. Contact a specialist to get an expert opinion about your business and get answers to questions regarding the solutions adjusted to the character of your organisation.

Lemlock ebook. Expert Guidebook: Three vievs on cybersecurity
We would be happy to talk about your project!
Consent to  data processing for contact purposes
I confirm that I have read the  information clause of Sagiton Sp. z o.o.

I hereby give consent to the processing of my personal data by the Personal Data Controller (hereinafter: "PDC") – Sagiton Sp. z o.o. ul. Fabryczna 19, 53-609 Wrocław, within the scope of: full name, e-mail address or telephone number, for the purpose of sale of products and services of Sagiton Sp. z o.o. and for the purpose of sending me feedback and making contact with me by Sagiton Sp. z o.o.

At the same time, I acknowledge that: at any time I can request the removal of my personal data from the PDC Sagiton Sp. z o.o. database, by sending an e-mail to, or a letter to Sagiton Sp. z o.o., ul. Fabryczna 19, 53-609 Wrocław, with a statement containing the relevant request, which shall result in the deletion of my personal data from the PDC Sagiton Sp. z o.o. database; I have the right to access my data; providing my data is voluntary, however refusal to provide it is tantamount to not receiving information regarding sale of products and services of Sagiton Sp. z o.o., as well as not receiving feedback and making contact with me by Sagiton Sp. z o.o.

In accordance with Art. 13 section 1 of the General Data Protection Regulation of 27 April 2016, (GDPR), we would like to inform you that the controller of your personal data is Sagiton Sp. z o.o. with its registered office at ul. Fabryczna 19, 53-609 Wrocław, e-mail:

Your personal data shall be processed within the scope of: full name, e-mail address and/or telephone number in order to answer your question/request for contact and send feedback – pursuant to Art. 6 section 1 (a) of the GDPR, i.e. consent to the processing of personal data.

The data controller would like to inform you that your personal data shall not be disclosed to third parties.

Your data shall not be transferred outside of the European Economic Area or to international organizations.

Your personal data shall be processed until you withdraw your consent to the processing of data, as well as if the purpose for processing this data shall no longer be applicable.

You have the right to access your personal data, rectify it, delete it, restrict its processing, the right to transfer it, as well as the right to object.

In the case of giving your consent, you have the right to withdraw it at any time. Exercising the right to withdraw the consent does not affect the processing carried out before the consent was withdrawn.

You have the right to lodge a complaint with the supervisory body, i.e. the President of the Office for Personal Data Protection, ul. Stawki 2, 00-193 Warsaw.

Providing your personal data is a prerequisite for making contact with you by Sagiton Sp. z o.o. with its registered office at ul. Fabryczna 19, 53-609 Wrocław. In the case of not providing your personal data, Sagiton Sp. z o.o., shall not be able to contact you.

The Data Controller, Sagiton Sp. z o.o., would like to inform you that they shall not use your personal data for automated decision-making, which is based solely on automated processing, including profiling, and has legal effects for you or affects you significantly in a similar way.