Today’s Industries are like that patient who feels sick but can not understand properly what is wrong with them. They need an expert to help them with this invisible problem.
Many times, the problem always comes out to be a fundamental but critical activity like waking up on time and going for a walk. The reason? To make sure that the very basic element, Oxygen, gets delivered to every part of the body and in the purest form.
For industries, this Oxygen is Data.
Over the past two decades, digitalization has seen tremendous growth. Many industries that once despised the Internet, realized its necessity and quickly adopted the change.
However, with the Internet came many challenges. Data becomes more centralized than ever and the space is dominated by a few giants.
This is where Blockchain comes in.
Let us first understand what is the outcome if industries are not getting the proper flow of data in a secure and trustworthy manner.
- Aviation: Delayed data can cause engine malfunctions, endangering flights and the lives of the passengers on those flights.
- Railways: Lapses in data or incorrect schedules increase collision risks, risking the lives of travelers.
- Logistics: Misplaced cargo disrupts supply chains causing a ripple effect throughout the world leading to an imbalance in the global economy.
- Healthcare: Medicine delivery delays can be life-threatening and can greatly affect the supply and demand cycle causing irregular pricing.
- Transplants: Organs may not reach patients in time or they may not reach the RIGHT patient on time due to the manipulation of data.
- Legal Sector: The possibility of forged digital interactions eliminates even the genuine cases and Data delays can complicate the process further.
- Content: A leaked song or a leaked movie destroys the whole career of the artists who are unable to prove their ownership as the original creator.
- Finance: Currency exchange costs, transaction costs, and hidden charges take a huge chunk of the hard-earned money of many people.
Such problems are just the tip of the iceberg. On analyzing the day-to-day activity of several industries and their dependence on data, handling this data more effectively becomes the need of the hour.
Let us see 5 such industries, the challenges they face with their current data structure, and how companies like Anryton can help them overcome such challenges, creating a strong foundation.
1. Aviation – Safe Data Skies
The burgeoning aviation sector is witnessing unparalleled growth, managing an estimated 4 billion passengers annually in 2023. With this vast number comes an intricate web of data, encompassing flight paths, maintenance records, passenger details, and more. In 2020, there were a total of 880 non-fatal and 205 fatal aviation accidents reported in the United States. Such interruptions not only affect the industry’s financial health but also diminish passenger trust.
A decentralized approach ensures data remains uncompromised. The core characteristics of a decentralized data management platform like Anryton are continuous uptime, no data latency, data integrity, and high data security due to advanced encryption techniques. The result is a robust infrastructure where aviation data is not only tamper-proof but also instantly accessible.
2. Healthcare – A Paradigm Shift in Patient Data Management
Modern healthcare relies immensely on data, from patient histories to real-time surgical metrics. When exploring other related sectors such as insurance, medical research, and clinical trials, the complexity in handling existing data systems increases many folds.
Through custom encryption and sharding techniques used by advanced decentralized platforms such as Anryton, only authorized personnel can access vital information in real-time and without any delay.
Furthermore, processes like insurance or data access for research purposes become code-driven, minimizing human intervention and hence minimizing the risk of manipulation or leak of sensitive information. This also presents an opportunity to monetize the data by allowing the real owner of the data to share their information with their consent.
In a recent post, Anryton’s CEO highlighted the crucial role of blockchain in managing genomic data securely and transparently. Genomic data is rare and even more sensitive which is why it needs a robust architecture to be handled safely. For a deeper understanding, you may refer to the CEO’s insights [here]
3. Education 2.0 – Building Data-Driven Academic Institutions
Educational institutions are vast data hubs, with student records, academic materials, and administrative details. These records are used throughout life, in organizations, hospitals, and government processes.
However, fake documents have become a new normal. As industries struggle to confirm the credentials from the issuing authority, the opportunity has been used to issue fake certificates that are rarely confirmed.
Leveraging the benefits of Blockchain and peer-to-peer storage, academic entities can ensure data integrity and quick access, setting the foundation for a more responsive educational environment.
Every record is stored on Blockchain as a hash reference, which can be accessed by any person or entity that has been approved by the original owner of the record.
4. Supply Chain – A Transparent Journey from Production to Consumer
Supply chain networks, despite appearing simple, are intricate systems comprising producers, suppliers, transporters, sellers, and warehouses. Their efficiency hinges on standardizing interactions among multiple entities, often spanning international borders with associated legalities.
Blockchain offers a solution by securely and efficiently recording supply chain data like goods’ weight, quality, and cost. Utilizing smart contracts, it standardizes digital exchanges and integrates legalities.
This ensures smoother cross-border transactions, supported by digital currency.
As a result, it establishes direct farmer-seller communication, transparent product origins, swifter financial transactions with fewer costs, efficient compliance, reduced wastage, and a balanced real-time demand-supply chain.
Financial instruments such as ANRY token further make it easy to streamline the payments in such a system.
5. Real Estate – Building Foundations on Secure Data
The real estate sector experiences fraudulent transactions, opaque property histories, and cumbersome paperwork. Furthermore, cross-border purchases amplify complications with regulatory differences.
Blockchain can transform this arena. Providing transparent property ledgers, Blockchain eliminates title fraud. Smart contracts streamline transactions, reducing paperwork and ensuring standardized international protocols. This decentralized ledger fosters trust, simplifies cross-border investments, and ensures seamless property and money transfers.
Hence, Blockchain presents an efficient, transparent, and secure real estate ecosystem.
The need for Blockchain in industries is undeniable. Whether it is about data security, transparency, integrity, ownership, data storage cost, latency, data flow, or even the routine data management, Blockchain is the only technology that addresses all these concerns.
This is the reason why companies like Anryton have taken a stand of working tirelessly towards the adoption of these technologies by simplifying them for the end user.
Anryton’s ethos is firmly rooted in empowerment. By providing industries the tools to control their data flow, they democratize access without compromising on security. The company’s solutions are not merely technological upgrades; they are catalysts for broader systemic shifts towards a more efficient, transparent, and secure digital age.
“Anryton’s commitment has always been to ensure a future where data is not just stored but optimized for the ever evolving real-world applications,” remarks the CEO of Anryton. “As we tread this path, our objective remains to be an enabler, facilitating industries in their transformation journey.”
With Blockchain, we are moving towards a future where every individual, regardless of their technical prowess, understands the potential and applications of decentralized data solutions.
For those keen on delving deeper into how Anryton’s solutions are shaping these industries or to understand the transformative potential for other sectors, visit www.Anryton.com for further details.