The uses of blockchain technology continue to expand from when it was first known as the technology behind Bitcoin. What began as the technology that powered Bitcoin has grown to become an advanced means of creating the internet of value and of trustworthy data. Today, blockchain technology is increasingly being used in other sectors such as managing the supply chain, healthcare, finance, real estate, education, government services, and online advertising. Another area that is emerging is that of decentralized identity and Soulbound Tokens.
Essentially, the blockchain technology provides a novel means for the storage and distribution of information on a secure, decentralized, and trustless network. It can be seen that the novelty in the blockchain solution resides in the effective integration of four distinct yet related attributes: decentralization, immutability, transparency, and security.
This article explains the applications involving blockchain technologies in different sectors, including supply chain management, as well as the advertising environment, in addition to an examination of more recent innovations, such as Soulbound Tokens or SBTs. The article explains applications involving blockchain, problems being addressed by blockchain, as well as future possibilities.
How Blockchain Technology Works
A brief examination of how the technology works will allow an understanding of the industry-wide implications of blockchain.
A blockchain is a distributed ledger technology that uses blocks to record transactions in a chronological manner through cryptographic hash values. Transactions in a blockchain are not maintained in a single location, such as a central computer, but through a network of computers known as nodes, such that every user retains a copy of the transactions.
Main Features of Blockchain Technology
Decentralization: The information is replicated in several nodes, and not under a single control
Immutability: “Once the information is committed, it is no longer modifiable without a consensus of the
Transparency: This includes the ability to view transactions from authorized
Security: A cryptographic process ensures data integrity
Traceability: All transactions can be traced with an auditable history.
Such features make blockchain highly appropriate for sectors that demand a higher level of trust, accountability, and coordination.
Blockchain Applications for Supply Chain Management
One of the most developed areas in blockchain technology is the supply chain management use case. The blockchain supply chain is a complex network that comprises not only businesses but also governments, manufacturers, logistics companies, retailers, and consumers in a multitude of countries.
Example:
Walmart uses blockchain technology to track food products like leafy greens from farm to store, reducing traceability time from days to seconds and improving food safety recalls.
Challenges in Traditional Supply Chains
Traditional supply chain processes may encounter several challenges:
Limited visibility in stages
Fragmented data systems & Big data
Manual reconciliation procedures
Fake products and fraud
Difficulty in ascertaining the sustainability and compliance
This makes the process more expensive, and the lack of reliability between the parties makes the whole process even more inefficient.
How Blockchain Improves Supply Chains
blockchain technology enables the creation of a common, unalterable ledger that tracks every single transaction or physical movement of goods across the supply chain. Each legitimate party has immediate access to the information.
Common Blockchain Applications in Supply Chain Industry
End-to-End Traceability
Blockchain enables the tracking of products from their raw material origins all the way through to their delivery, says Kamal Ramanathan, director at global operations for payments technology company, RippleNet, where he oversees enterprise global on-chain solutions.
Anti-Counterfeiting Measures
Pharmaceutical, luxury, and electronics industries have implemented blockchain technology for authentication purposes. By mapping physical assets to their digital representations through the use of QR codes, RFID chips, and IoT sensors, industries can better identify counterfeit assets.
Smart Contracts for Logistics
Smart contracts can be programmed to perform actions such as:
Paying when the service has been provided
Calculation of penalties for delay
Checking customers documents
It cuts down on manual interventions.
Sustainabilitiy and Sourcing Ethics
By using the technology, the environment and the workplace, as well as the amount of carbon emissions of the product, can be verified.
Blockchain Technology in Healthcare
The healthcare systems handle very confidential information and have stakeholders such as hospitals, insurers, laboratories, and patients.
Example:
Estonia’s national healthcare system uses blockchain-based infrastructure to secure patient records, ensuring data integrity and controlled access across hospitals and providers.
Problems in traditional healthcare systems
Fragmented patient records
Limited interoperability
Data breaches & privacy risks
Use Cases for Healthcare in Blockchain Technology
Blockchain facilitates:
Secure storing and sharing of electronic health records
Patient-controlled medical data access
Transparent pharmaceutical distribution channels
Available clinical trial results
By bettering data integrity and interoperability, blockchain can contribute to minimizing expenses and maximizing benefits to patients.
Usage of Blockchain Technology in Banking Sectors
Financial services were one of the first sectors that implemented blockchain technology beyond cryptocurrencies.
Example:
JPMorgan’s Onyx platform uses blockchain for interbank payments and settlements, enabling faster cross-border transactions with reduced reliance on intermediaries.
Key Financial Applications
Cross Border
Trade finance documents
Settlement and clearing systems
KYC and identity verification
Fraud detection
Benefits to Financial Institutions
Faster transaction settlement
Reductions in operating
Less dependence on intermediaries
Improved auditability
By being always online, blockchain systems promote efficiency over existing banking networks.
Blockchain Applications for Real Estate
Digital property titles
Smart contracts for transaction
Transparent ownership structure
Tokenization of real estate property
Because of the reduction in manual procedures and middlemen, blockchain technology has the potential to make real estate transactions quicker and more secure.
Example:
Sweden’s land registry authority has tested blockchain-based property title transfers to reduce paperwork, fraud, and transaction settlement time.
Applications of Blockchain in Education
Learning institutions have become reliant on digital credentials, which must be verifiable for a long period.
Use Cases in Education
Digital diplomas and certificates
Credential verification by employers
Secure Academic Records
Lifelong learning portfolios
The Blockchain helps ensure that all credentials for higher education are tamper-proof and verifiable across the world.
Example:
MIT issues blockchain-based digital diplomas, allowing graduates to share verifiable academic credentials with employers worldwide.
Blockchain in the Public Services and Government
The government is researching blockchain technology in order to enhance transparency in public administration.
Public Sector Use Cases
Digital identity systems
Land registry management
Voting systems
Transparent procurement processes
Blockchain can help in lowering the corruption risks and can improve the citizens' faith in the institutions.
Example:
Georgia has implemented blockchain for land registry records, improving transparency and reducing disputes over property ownership.
Blockchain in Digital Advertising
The advertising industry, specifically online advertising, is also one of the most complicated and opaque markets, involving many different channels, data exchanges, and middlemen. It is the type of market where the use of blockchain technology would be highly effective.
Example:
Brave Browser uses blockchain-based advertising to reduce ad fraud and give users control over data sharing while rewarding attention through transparent ad tracking.
Challenges in Traditional Advertising
Ad fraud and fake impressions
A large fraction of online advertising budget is lost to fraudulent behavior like bot traffic, click farm, and impression fraud, making it rather difficult for advertising campaigns to be measurable.
Lack of transparency in Ad spend
The advertisers do not necessarily know where their advertisements are placed or where their budgets are being routed to the publishers; hence the inefficiency in the advertising industry.
Several middlemen
The traditional digital advertising model is dependent on multiple players, such as advertisement networks, exchanges, and data suppliers, which incrementally increase the cost associated with advertising.
Data privacy issues
Personal data is often aggregated and transferred between services with very little transparency or control on the part of the user, leading to concerns about consent, abuse, and compliance.
How Blockchain on Transforms Advertising
Blockchain in advertising enables an immutable and transparent ledger for advertisement transactions, allowing all parties involved—including advertisers, publishers, and intermediaries—to verify ad delivery, performance metrics, and financial flows.
Use Cases in Advertising Using Blockchain
Ad fraud protection
Impressions and clicks are recorded on a blockchain ledger, which enables the advertiser to distinguish between organic and automated and/or fraudulent clicks.
Media Buying Transparency
Advertisers can now monitor and track where their advertisements are placed, where the impressions are being delivered, and where budgets are being spent.
Ownership of user data and consent
Blockchain technology provides a way to allow people to have control over how their data is shared. Such technology makes the process of advertising more privacy-centric.
Decentralized advertising exchanges
Through the creation of a system where advertisers are able to interface with publishers, the use of blockchain eliminates the middlemen in the advertising business.
Emerging Blockchain Innovation: Soulbound Tokens (SBTs)
Soulbound Tokens are a relatively newer and trending blockchain use case, which involves identity and reputation rather than the financial transfer that was seen in the earlier use cases.
What are Soulbound Tokens?
A Soulbound Token (SBT) is a digital token that can be avowed to a certain wallet/identity and cannot be sold/transferred like an NFT.
Use Cases for Soulbound Tokens
Digital identity verification
Academic and professional Qualifications
Reputation systems in DAOs
Compliance and access control
SBTs bring a new dimension of trust and accountability to a decentralized system.
Difficulty in SBTs
Privacy concerns
Approaches to key
Regulatory Uncertainity
Example:
Ethereum-based communities experiment with Soulbound Tokens to represent DAO membership, governance participation, and contributor reputation without enabling resale or transfer.