Buying and selling real estate involves a variety of different procedures and documentation that the Blockchain is capable of solving. Lenders providing mortgages, contractual agreements between buyer, sellers, real estate agents, banks, and lawyers, monies held in escrow, land deeds being transferred. An interoperable blockchain network with IPFS plus government and financial institution support can shrink this long convoluted process with multiple players down to a few simple transactions.
In supply chain there are various use cases that can apply to Blockchain. We bucket these issues into Traceability and Visibility.
Traceability begins with the order management process, ensuring the correct documentation is ready to process the order, it then moves into ensuring the correct paperwork is present for the buyer and sellers banking institutions, Freight and Carriers. The Documentation could include Performa Invoice, Commercial Invoice, Packing List , Certificates of Origin, Bank Draft, Bill of Lading and Dangerous Goods Forms. A rollout of such functionality would involve several parties, the buyer, the Seller, Banking Institutions for the buyer and seller, the freight and carrier, and the port of authorities.
Visibility of goods involves tracing where the assets are and when. This is primarily using the asset as a Token in the Blockchain network, while asset owner is the account. As Ownership changes hands, through scanning packing labels, the blockchain is updated. The benefits of housing this information in the Blockchain is the ability to have instant triggers based on information being updated. For instance, once the shipping company has moved the goods to the port of authority on the buyers side, they can immediately receive the payment. Other benefits include Supply Chain Managers having a shared record of costing information, and complete audit transparency.
The B2B Marketplace application uses Blockchain for the management of assets. The purpose is to use digitized assets to back a real world asset. Each vendor that uses the application can host their own blockchain nodes and update and manage their own assets through it. The blockchain infrastructure provides trust in the marketplace, while the application layer governs the commerce for the marketplace.