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Use cases for Waves

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The blockchain industry is the capital of promises and visions. Endless projects were launched with the goal of decentralising the world by creating solutions to problems that never existed. Fast forward a few years since the inception of most projects and the vast majority of blockchains still has no use cases; it is incredibly rare to see a protocol that is actively being used to provide value to users and companies.


The underlying technology has the potential of drastically improving current personal and commercial practices; by making them safer, quicker and more transparent. The main issue is that most projects have struggled to adapt and to find solutions to problems that actually existed – luckily not all of them.

Specifically in this article we will be discussing how Waves protocol can be used by businesses to improve scalability, reliability, immutability and confidentiality.

Healthcare

Patience Data

The solution offers a means of storing patient data on the blockchain, giving users control over how their medical information is used and accessed by clinics and other third parties, as well as ensuring redundancy in the case of data loss by individual organizations.

 

Medical Records

The solution offers patients full control over their medical records, allowing them to manage access by clinics and other parties in real time and reducing costs for medical institutions through the use of a unified interface.

 

Oil and Gas

Supply Chain + IOT

A decentralized cargo tracking system based on the Waves Enterprise blockchain or a major oil company.

 

Supply Chain + Document Flow

The solution enables universal, real-time access to interactions between suppliers and other key stakeholders in the oil and gas industry — reducing disputes and speeding resolution by recording a global, immutable and verifiable truth.

 

Energy

Electricity Accounting

Waves has developed a decentralized platform for interaction between key participants of retail electricity markets, featuring a more efficient electricity consumption metering system based on blockchain technology.

 

Fintech

Cash Pooling

Waves has developed a customizable distributed treasury and cash management (DTCM) service application for Alfa-Bank. The treasury business application enables corporate customers of the bank to manage account limits and disbursements, and to collect and distribute liquidity, with future versions of the application intended to include loan and deposit management as well as other related services.

 

Cross Boarder Payment

The solution offers fast, efficient cross-border payments, cutting the time for global transfers from days to just seconds. Use of a blockchain system also enables greater transparency, and the opportunity for banks to manage customer data securely.

 

Arts

Right Management

The solution offers fast and straightforward proof of authorship for literary and artistic works, by means of a time-stamped record of the work in question posted to the blockchain. This essentially eliminates uncertainty in the event of a copyright dispute.

Manufacturing Loan

Tokenizaton The solution dramatically reduces the time, costs and complexity entailed in novation — the conversion of a debt into a debenture — by automating key processes and reducing the risk of counterfeiting by means of blockchain-powered smart contracts.

 

Product Authenticity

The solution provides end-to-end oversight of the supply chain, giving buyers confidence in the provenance, authenticity and integrity of products purchased through immutable records posted to the blockchain at every key stage.

 

These listed above are just some of the possible use cases for Waves protocol; all of them were produced and implemented as a solution to real existing problems as supposed to an hypothetical problem like the vast majority of service providers within this industry.

If you are interested to learn more about possible use cases for this protocol feel free to visit https://wavesenterprise.com/ in order to fully understand how blockchain can drastically improve current business and personal practices.

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