New identity systems will give consumers more power over their data. Companies will have access to more higher quality data through data provenance tracking and direct sharing between companies.
Smart contracts can be more secure than traditional contract law. Also, they can reduce a number of transaction costs associated with contracting, since the blockchain cuts out any middlemen.
Real estate development companies are employing Blockchain to track complex projects that span across companies, for complex contracts and as a potential source of financing.
This industry has been an early adopter of Blockchain technology in the form of cryptocurrency support, global payments and the creation of new financial instruments.
Fortune 500 CPGs and restaurant chains are using distributed ledgers to track products through global supply chains. Cryptocurrency may soon be used in countries with unstable local currencies.
Blockchain has the potential to revolutionize content financing and how it is commercialized. New forms of micropayments and DRM will empower creators and reduce piracy.