As well as we know, the blockchain had a major impact on the financial sector, with clear benefits in terms of data processing speed, transparency, security, but these benefits can be applied to many other economic, productive and social areas. Here are some potential application areas for Scrypta:
The blockchain allows the creation of open supply chains in which all the actors - producers of raw materials, companies involved in logistics and transport, companies operating on raw materials at various levels of transformation, companies working on packaging and marketing and finally retailers - can provide data and information and control, with the full transparency, the data of all other actors. The data relating to each product can be put to the benefit of the final consumer.
Our technological proposal has the potential to allow not only producers, but also their customers, to access an innovative era of traceability in the supply chain. Scrypta's Blockchain can guarantee a clear and secure flow of information , and we can push ourselves to imagine a near future in which a "scan" of a label can show the customer the entire path of a product.
Scrypta's Blockchain stands as a key application for the Industrial IoT (Internet of Things). It can be used to track myriads of connected devices, allowing the processing of multiple data transactions and the coordination between physical devices.
This decentralized approach would eliminate the traditional networks points of failure, make easier the creation of an ecosystem on which the connected devices and machines can operate.
The blockchain is a public ledger for massive amounts of data and this would bypass the use of a central hub to manage and mediate communication between devices. Moreover, the cryptographic algorithms used by Scrypta would increase the protection and authenticity of the data.
The architecture of Scrypta can radically change the relationships between citizens and governments due to a decentralized and distributed logic, which leads to greater transparency, greater security and accessibility.
Imagine the use of blockchain technology in the field of public record keeping, document preservation, digital identity, payments, tax collection, up to voting mechanisms.
Thanks to Scrypta's blockchain, it is possible to include documents as supporting evidence during legal disputes that unequivocally demonstrate ownership of a work or document.
There are two characteristics that make Scrypta particularly relevant for the certification system: "hashing" and "proof of existence" (Proof of Existence). Hashing is a process by which a document is transformed into a fixed length code that is defined with a "fingerprint". Every hash is unique.
The "Proof of Existence" shows that a certain hash existed at a given time. Demonstrating its existence means providing proof that a certain document existed at that fixed time, this process is called "timestamping". This opportunity is considered particularly interesting in all the processes that touch on the subject of intellectual property, patents and certifications
Managing patient’s medical data through the blockchain, will allow to share information on patients in a safe and fast way, and therefore would greatly help medicine and health to improve the service offered, with the possibility to have the entire medical record of a patient, and then to know his story in advance, in order to give faster and better care.
The blockchain is also a response in terms of managing complex scenarios that concern the presence and interaction between interregional health systems, between private subjects such as analysis laboratories, private health facilities or even insurance.
Scrypta's blockchain technology can also speed up the control procedures and operational mechanisms of hospitals and can bring significant efficiencies for a secure document management.
Scrypta can offer four benefit to the electronic commerce:
1. Fight against counterfeiting: ecommerce platforms can verify the authenticity of each product before exposing it to the public, to guarantee both the customer and their image.
2. Supply chain optimization: as we have seen in the previous section.
3. Speed up payment processes: currently involving in a plethora of players, the need for a central authority is eliminated with the blockchain, making the payment process practically in real time.
4. Security of transactions: the nature of blockchain is immutable and decentralized nature so it makes impossible to alter the data and therefore eliminates the possibility of fraudulent transactions.
With the adoption of Scrypta-based databases it is conceivable a reduction in hacking, tampering and intrusion activities in company databases. The public distributed ledgers are more secure than many traditional systems, reducing the risks associated with human error.
In this sector Scrypta's Blockchain would function as a verification system that allow the detection of quality and quantity of material and origin, in order to trace the whole history of the supply chain, facilitating the relationship between the actors involved in terms of reliability and safety. Moreover, the blockchain, in relation to the waste management phase, can be used as a tool to encourage virtuous behavior of citizens.
Scrypta's Blockchain can help banks to provide services more suited to the needs of highly innovative companies, while at the same time having the most accurate information about the client company.
Insurers would have in the Blockchain of Scrypta an opportunity to reduce costs of their management platforms, improve the customer experience and develop new solutions and opportunities to improve the data access.