Blockchain is being applied in many industries - now.
This technology will disrupt many industries. It enables an environment with a new kind of “machine trust” leading to less intermediation, increased efficiency, and new business models.
The financial sector was the first to explore blockchain for its frictionless transactions and digital currencies. Cashless economic systems without borders, and very small transaction fees are disruptive in nature and crucial for the future of finance. Specifically, the tokenization of real-world assets (creating digital representations / twins in form of tokens) has tremendous potential to unlock the trading of a new asset class and to stimulate growth.
The insurance industry is fighting classic issues such as cycle duration, information asymmetries or low margins in established fields. At the same time, continuing their path to digitization. While there is awareness of new technologies, the implementation in complex existing systems is challenging. This leads to the exploration of emerging markets, new business models and InsurTech startups.
Mobility includes technologies and services that enable people and goods to move around more freely. The industry is changing rapidly and moving towards higher connectivity, shared economies, autonomous driving, and many types of electric vehicles. Usage-based payments and verifiable track and trace solutions of ownership or vehicle parts are proven use cases.