Claiming to be Asia’s largest blockchain event, the International Blockchain Congress 2018 held at Hyderabad on August 3 and 4 attracted blockchain enthusiasts, startups, regulators, innovators and experts from all over the country. The conference was a collaborative effort between Nucleus Vision, NITI (National Institution for Transforming India) Aayog and the governments of Goa and Telangana. Apart from the numerous keynotes and panel discussions hosting more than 80 speakers, the conference served as a great playground for established and budding blockchain startups. The exhibition hall was occupied with numerous startups presenting different (some similar) applications of blockchain in various sectors. Here’s a few of them that caught our attention.
The pharmaceutical industry has a layered system of logistics that primarily covers drug manufacturing and supply. They also deal with clinical trials of the drugs at different levels ranging from animal to human testing to ensure their quality and effectiveness. While blockchain technology is already being explored for the supply chain segment by several companies and startups, clinical trial management is also something that can immensely take advantage of this technology. Bloqcube is exploring this opportunity to streamline the process of conducting clinical trials with new drugs. The system can be scaled and customised to cater to the required needs so that it can accommodate various diseases and conditions. Their system will take care of the complete process right from planning to implementation and even monitor the finances. Using blockchain to handle the process improves the data accuracy, integrity and security of the system. Smart contracts can be further implemented in the system so that it becomes easier to implement automated deals when the drugs are deployed further from the trials.
Identity verification has been known to be a popular application of blockchain technology. KYC verification is implemented to verify your identity for banks and legal documents. The usual process is to physically hand-over the documents or by uploading an electronically signed copy of the same documents. However, these methods are vulnerable to instances of false identities and identity thefts that can cause serious damage to the individual. Currently, your identity is scattered all over and there’s no unified way to confirm whether it’s you at all these places. Diro is trying to use blockchain technology to develop a decentralised identity and access platform. It will enable users to be easily verifiable and instantly enable KYC formalities. The system relies on a crowdsourced directory since shared contacts are a more trusted source for real identities. Eventually, this will form a verified profile that can be accessed by anyone to verify your identity. If this works out, you wouldn’t have to manually go through the entire process of KYC before joining or subscribing to various services.
Healthcare is a popular sector where blockchain technology can provide many advantages. Being a sensitive industry where people’s lives are at stake, the patient’s health records and diagnosis information are essential. Any kind of inaccuracy in data or data breaches can prove fatal for multiple people. Hence, the patient’s information hosted on a blockchain would be a great first step. Nanohealth is planning to leverage the same technology for their healthcare solution platform. Their services include an integrated platform where users can enter their medical history and ailments to serve as an electronic health record that can be shared with physicians or specialists. This will enable users to generate a health dashboard giving them details about diseases, colour-coded based on how risky they are. It will then serve personalised recommendations to book doctors or specialists. Physicians will also be able to look at health records so that they can monitor their patients and prescribe check-ups as required. An entire ecosystem of services from a single platform will essentially make healthcare more accessible and less of a hassle for both the sides.
Hardware wallets tend to be more secure compared to software wallets since the user has to physically authenticate transactions every time. Spatium claims to have built an “ultra-secure” software and hardware wallet for cryptocurrencies. Each transaction usually requires a signing of public and private keys. In Spatium’s protocol, private keys aren’t generated at all so there’s nothing to store to be compromised by hackers. This wallet will be able to store up to 100 cryptocurrencies together along with multiple signatures for teams using the same wallet. Users will also be able to sign a transaction without an internet connection using physical devices such as smartwatches, phones and the hardware wallet. The Spatium hardware wallet is the size of a credit card with a fingerprint scanner and NFC chip embedded in it. Users can use the card at Spatium-enabled point-of-sale terminals for transactions in the future. An interesting feature in the hardware wallet is the Plausible Denial feature for security issues when users are being forced to make a transaction. By enabling it, a small sum of funds can be pulled in temporarily while the rest of it is safely locked away.
Supply chain management can benefit from blockchain technology to a great extent. Not only will it enable quicker and secure logistics but it will massively reduce redundancies. The factors become more complicated when dealing with cold storage since they have to deal with food, vaccines and biological products. Any inefficiency in the temperature can lead to terrible losses and wastage. StaTwig wants to solve this by implementing supply chain management over blockchain. An efficient cold chain is essential for the pharmaceutical industry since a majority of their business depends on storing and transporting products. Additionally, there are multiple middle-men participating between the source and destination. This increases the points of failure throughout the process.
Veri Doc Global
Document fraud is pretty common since it’s difficult to verify whether the document shared is the original one in the first place. There isn’t any reference when a document is shared with an end-user for verification. Veri Doc Global seems to have solved this problem by leveraging blockchain technology. The way their authentication system works is quite simple. When an original document is created, it is stored on the blockchain. When the document is to be shared electronically, their system creates a unique QR code which has a hash code embedded in it. This hash code is linked to the original copy stored on the blockchain. When the end-user wants to verify the document, they will scan the QR code. After scanning the QR code, the app will decrypt the hash code and present the original copy to them. Now, the end-user can verify whether the sent document is the same as the original copy or not. Veri Doc Global will definitely find itself useful in several sectors such as passport verification, driving licenses, bank statements, etc.
Anonymous tips for crimes and information have been exchanged since forever. However, there’s always a risk of compromising the leaker’s identity. Also, there isn’t much of an incentive from reporting crimes anonymously. ZTips wants to provide a decentralised and anonymous platform for crime reporting between information seekers and providers. They intend to collaborate with crime investigation agencies, financial institutions and media sources so that a unified platform can be created. This will make it easier for tipsters to leave their valuable information anonymously while gaining incentives using tokens. These incentives or rewards are set between the providers and seekers. The exchange of information is bound by decentralised autonomous Smart Contracts so that none of the parties can back out of the deal. ZTips can prove to be a great platform for whistleblowers as well.