Hedera Hashgraph is a cutting-edge technology that has the potential to revolutionize multiple industries. Its unique consensus mechanism allows for faster, more efficient, and more secure transactions than traditional blockchain systems. But what does this actually mean in real-life applications? In this blog, we will explore the potential of Hedera Hashgraph through real-life examples and case studies. We will examine how it can improve finance, healthcare, and supply chain management industries. From its ability to handle high transaction volumes for stock trading to its ability to securely store and share patient data in the healthcare industry, the potential uses for Hedera Hashgraph are endless. Join us as we delve into the exciting possibilities of this game-changing technology and how it can improve our daily lives.
Communication and collaboration with complimentary services are important for progress in the healthcare industry. Allowing secured access to trusted data is a non-negotiable initiative the healthcare institution will undertake. We can see the potential of Hedera being utilized by Acoer to aid decision-making in drug development and patient care. Acoer uses a combination of regulatory science, real-world data, and knowledge integration to improve the efficiency of research and development, increase commercial value, and enhance patient outcomes.
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Acoer is addressing the significant issue of drug shortages by developing a collaboration platform that utilizes a distributed ledger to track the entire supply chain, intending to prevent and quickly resolve shortages. To achieve this, they are creating an Open API for the pharmaceutical and life sciences industries, intending to promote collaboration by removing barriers to access while ensuring security. Additionally, Acoer is developing tools such as HashLog, which utilizes Hedera’s mirror nodes to provide transparency and historical data on transactions on the public ledger, to further support this goal.
The potential of Hedera DLT, can bridge the gap between farmers and financial providers. Financial markets are often unavailable to small and medium farmers. The agricultural demand is said to rise by 70% in 2050. Against this backdrop, Agryo uses decentralized public ledgers that support information sharing between farmers and financial lenders.
The strong governance model of Hedera Hashgraph helps to vest greater trust in decentralized public networks. Due to Hedera’s high throughput and low transaction fees, farmers and lenders can easily manage tokenized assets and access transparent records of each farming plot and its outputs.
Two Hedera network services: Smart Contract and Consensus Service, are used by Agryo for loans and information regarding the buying process. The farmers select the plot for which they need a loan. The smart contract, managed by Solidity, creates a contract with the details of the plot. Lenders can establish the terms of contract creation in advance, and by updating the smart contract, they can maintain a verifiable record of these terms.
Going forward, the potential of Hedera Hashgraph can grow in farming as Agryo plans to integrate predictive risk scores. Due to the transparency in data, more farmers can benefit from bigger deals from Agryo and Hedera.
Over 75% of the fees in the advertising industry go into the pockets of intermediaries. The industry lacks transparency throughout its system. Hedera offers AdsDax the ability to use a secure public distributed ledger of immutable data and transactions. The DLT of Hedera ensures that all data is negotiated transparently at every stage of the advertising process. High-throughput, low-latency consensus on transactions with verified time-stamping offers AdsDax a new and critical set of tools for fraud detection.
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Currently, the AdsDax platform captures events, such as impressions or clicks, triggered by end-users and passed from a tracking system to a queuing service. Each event is enriched with additional information, such as device type, publisher, website details, and geographic location. In the queuing service, the events are processed and grouped into Hedera transactions, typically with 10 events per transaction. On average, AdsDax processes around 2,291,140 events and 230,730 transactions on the Hedera mainnet per day.
Sensitive data, like customer information, must undergo a data classification audit for the integrity of online services and applications. Implementing new solutions into an existing environment can b vulnerable to data tampering and unauthorized access. It’s important that organizations implementing new solutions can trust and verify with certainty how and when their data is accessed and used.
The potential of Hedera Consensus Service allows Theom to create an unchangeable and verifiable record of events, which helps to build trust between customers, cloud providers/SaaS applications, and Theom, ultimately leading to increased adoption, retention, and usage.
We have changed how we perceive electricity and its distribution in the past decade. Rapid technological advancements have decreased the cost of supporting tools such as batteries and solar panels. At the same time, consumers have become more focused on the environmental practices of businesses and their impact on the environment. This has led to a shift in consumer behavior towards choosing more environmentally conscious companies.
Related Article: Top 10 Carbon-Negative Green Blockchains
DLT enables individuals to trust each other in a transaction with a little overhead. The team at Power Transition uses Hedera to build a stable platform with a high-throughput mechanism to exchange value.
The potential of Hedera Hashgraph allows Power Transition users to engage in direct, peer-to-peer exchanges of hbars for energy. Its ability to provide quick and final transactions makes it an ideal solution for ensuring that energy transactions are completed smoothly and efficiently without getting bogged down.
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