Energy Trading Platform
The energy markets involve complex procedures that require third-party intermediaries such as brokers, trading agents, exchanges, price reporters, logistic providers, banks and regulators. Procedures involve manual post-processing and intense communications to consolidate information held separately by people at each part of the transaction, which is slow and time-consuming, as transactions need to be verified and reconciled multiple times from initialization to final settlement. Slow transactions and exchanges lead to frictional costs prohibitive to small-scale and distributed generators, in effect pricing them out of the market.
The use of blockchain will allow better transparency and lower costs in energy trading. It could eventually even facilitate cross-border energy credit trading. The distributed ledger system effectively eliminates the need for verification processes at a centralized entity, reducing costs and allowing small energy consumers and producers to participate.
Corporate Finance Compliance Process with Automation
The impact of intelligent technology runs deeper in businesses, especially when finance organizations automate their audit and compliance programs to help offset resource constraints.RPA’s capability to pull and aggregate data from multiple sources can also enhance work process efficiency, helping eliminate or reduce the time-consuming processes of collecting, compiling, cleansing, and summarizing large amounts of information.
An audit trail using private blockchain nodes can be implemented; blockchain POA nodes then keep the information like a mirror to the audit trail, stored in a database as a POC. The POC can be assessed to determine if this solution can be used as a formal way of keeping an audit trail in the future.
The Mortgage ProblemThere has not been great improvement in the transparency and data accuracy involved in mortgage record-keeping. The mortgage process is very much centralized and permeated with middlemen, who each add their own mark-up to the overall costs on underwriting fees and processes that can take weeks. This is where blockchain technology will be revolutionary. With blockchain, transactions and data storage are decentralized, and information cannot be altered or tampered with.The Challenges How long does this process of discovery, designing, building, and implementing blockchain-based solutions take? How do businesses determine which is the best blockchain protocol to use? Which is the best use case and how is it possible to speed up the Proof-of-Concept faster for business innovation?
Speed up Proof-of-Concept process on Morpheus Labs SEED SEED offers an easy way to develop blockchain-based solutions. It is built to be blockchain-agnostic with multiple integrated blockchain protocols, development tools and an environment for developers.
Implement a Secured Health Record Solution
Blockchain could reinvent the way patient’s electronic health records are shared and stored by providing safer mechanisms for health information exchange of medical data in the healthcare industry, by securing it over a decentralized peer-to-peer network. The Electronic Health Record (EHR) system contains critical and highly sensitive private information for diagnosis and treatment in healthcare. These data are a valuable source of healthcare intelligence. The sharing of healthcare data is an essential step toward making the healthcare system smarter and improving the quality of healthcare service. As EHR systems face problems regarding data security, integrity and management, this technology could provide a new model for health information exchange (HIE) by making electronic health records more efficient and secure.
Implementing blockchain technology in this area of the medical sector helps to streamline the required information and its accuracy. It also cuts out the middle-man and receives prompt, validated health information directly from patients allowing you to access their accurate and up to date records in a more cost and time-effective manner.
Blockchain in Aviation
The commercial aviation industry is vast, complex and deeply interconnected with many entities such as travel products and services which are sometimes manifested in a single product from a customer perspective. As the companies that manufacture, operate, and service aircraft expand, they are seeking out technologies such as AI, 3D printing, blockchain and other tools that will allow them to optimize performance.
The use of blockchain in aviation could open up new opportunities in the sphere of enhanced transparency, specifically regarding maintenance, flight logistics data security, payment and passenger information. This will ultimately help increase efficiency and accuracy levels in real-time and at low cost, potentially unlocking new product development areas, supporting the streamlining of processes, and better-enabling providers to deal with disruptions.
Unified Payment Platform
Blockchain facilitates new commerce opportunities for the digital transfer of value by allowing businesses and financial institutions to transact on a distributed ledger. Sending money across borders today requires a series of intermediaries for both clearing and settlement, adding time and cost to the process. Rather than going through a series of intermediaries when sending money across borders, a real-time, global payments network can be built to support cross-border transactions and foreign exchange using digital assets, also known as cryptocurrencies or “stable coins”.
Implementing blockchain helps financial institutions improve the services they deliver to their consumers by optimizing and accelerating foreign exchange, cross-border payments and remittances; meaning funds can be transferred at a fraction of the cost and time of traditional correspondent banking.
POC For eDocument Solutions For a New Generation of Trading Networks
It can be difficult to verify the validity and authenticity of digital documents, such as a signed, legally binding business deal, with efficiency and at a very low implementation cost. The use of intermediaries increases expenses.Blockchain technology can resolve this problem by converting original documents into digital versions that are easily authenticated and validated. .
Businesses can integrate a digital documentation solution by leveraging on Morpheus Labs SEED. A one-stop, end-to-end environment for designing, deploying, and implementing solutions.
Media on Blockchain
The digitalization of the media and entertainment industries, driven by changing consumer behavior, has heavily impacted profitability as content can be copied and distributed easily without loss of quality. The ensuing revenue “leakage” has been only partially recovered through new consumption models such as streaming subscriptions and micro-payments for articles.
By leveraging blockchain technology, IP across multiple channels can be properly tracked and digital rights management companies can access the full record of transactions made. Both creators and investors can access a practical application of accounting and profit tracking in real-time. For example, in the music industry, profits are often held by either labels or studios, and artists and other stakeholders can be left waiting for months to see any monetary compensation for their works while accounting takes place. Blockchain technology is perfectly suited to providing liquidity for all stakeholders.
Loyalty Programs on Blockchain
Traditional loyalty programs suffer low redemption rates, high costs, and few customer incentives. Also, consumers are increasingly concerned about privacy and security because the collected personal information goes beyond name and contact number.
Through a decentralized technology solution, loyalty program providers have the flexibility to decide how and with whom the customer uses these rewards – and, from a consumer perspective, his or her ability to access and manage the program is practically frictionless. With the immutable characteristic of blockchain, each transaction is recorded publicly and cannot be altered. That means there is transparency between customers and the company, which in turn strengthens customer loyalty. For businesses, there is also the benefit of reduced cost in implementation and maintenance due to loyalty records being on blockchain.