Blockchain IT is beginning to revolutionise new potential for businesses on a level never seen before.  Whilst to date, often blockchain IT has been associated with financial services and the expansion of cryptocurrency and the platform in which it works on, blockchain IT can provide much more.  In doing so, businesses are finding new and innovative ways of using it.

Improving intellectual property within the supply chain – Companies are fighting back against counterfeit goods by protecting products and components with unique digital secure keys via their newly implemented private blockchain ledger. This enables them to track goods from end to end and pin point any issues raised directly with the specific the supplier within the chain more easily.

Managing health records – Accessing health records and the miscommunication between local GP’s and hospital consultants has been an issue for the healthcare sector for too long.  Maintain healthcare records on a blockchain network could help to reduce medical errors and even death, as consultants will be able to access a ‘full picture’ of information about their patient and make a better decision on what medication to prescribe or where further treatment is needed.

Strengthening data privacy – As more and more data breaches hit the media limelight each day. Technology companies are now looking at how blockchain IT could offer the answer as a more secure option to store data safely.

Is your business investing in new methods of operating through blockchain IT?

We seek to support companies who require bespoke insurance cover to protect their assets and commercial interests whilst they embark on process changes and expansion through their business. To find out how we can help your company please speak to our blockchain IT insurance advisers or find out more about our other technology insurance services trough our website at www.crendoninsurance.co.uk .

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