Blockchain is Transforming Industries

While cryptocurrencies are dramatically rising in worth, it is the underlying technology that has the potential to disrupt virtually every industry. Blockchain is a secured record of transactions, where each entry is visible to all stakeholders, cannot be modified and is not housed on a central server.

86% of business leaders across industries are planning to use blockchain1

Blockchain provides:

  • Security: Its decentralized nature means there is no one single point of attacks.
  • Accessibility: All stakeholders can view the blockchain transactions without the ability to edit or compromise security with human error.
  • Efficiency: Blockchain reduces fraud, negates need for separate documentation, provides secure data, and as a result, cuts costs.

Industries that may be transformed by blockchain include:


Potential for change:

  • Secure password management and user authentication
  • Immutability and traceability ensure data integrity
  • Cloud storage only accessible to authorized users and with virtually shredded files distributed across networks
  • Decentralized digital infrastructure reduces potential for hacking and allows a network to continue operating even while under attack

How can cybersecurity companies keep user information secure with blockchain?

REMME authenticates with blockchain instead of passwords, which can be leveraged by 27 billion smart device users globally2

Obsidian Messenger protects instant messaging data, and their technology has the potential to secure the 1.82 billion mobile instant messaging app users3

Guardtime detects and prevents cyberattacks as they occur, including protecting the health records of the 1 million Estonia citizens4


Potential for change:

  • Fewer middlemen in financial transactions
  • Improved customer verification to meet regulation guidelines
  • Faster payments
  • Lower transaction fees
  • More efficient payment and settlement processes

10% of the world’s gross domestic product is predicted to be stored on blockchain in the next decade5

90% of banking professionals are exploring the use of blockchain for payments6

$20 billion estimated cost savings in financial sector from blockchain implementation7

Health Care

Potential for change:

  • Increased interoperability and permissions management between health record systems
  • Greater access to population health data
  • Streamlined processes like medical claims, clinical trials, medical device data integration, prescription ordering and organ donations
  • Reduced costs for regulation and compliance

By 2018, approximately 90% of health care organizations plan to finance blockchain8 for:

  • Medical/health records
  • Billing and claims management
  • Medical device data integration
  • Asset and contract management
  • Medication/treatment adherence
  • Clinical trial records
  • Regulatory compliance
  • Adverse event safety monitoring

Manufacturing and Supply Chain Management

Potential for change:

  • Automatic payments after delivery of goods
  • Secure data management and communication across a network of stores and suppliers
  • Greater supply chain transparency
  • Reduction of supply chain faults, fraud and counterfeiting

31% of manufacturing and supply chain leaders see blockchain as a competitive advantage9

5% increase in global GDP and 15% increase in trade resulting from blockchain reducing global supply chain barriers like administration and communication10

$100 million saved with blockchain by reducing dispute times from 40 to 10 days for suppliers and partners11

Created by MBA@UNC, the online MBA program from the University of North Carolina Kenan-Flagler Business School


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