Potential Benefits of Blockchain Application

Blockchain Benefits

Proof Point

Blockchain can lower transaction costs, improve efficiency, ensure data integrity, increase transparency, enhance security, drive automation and promote data interoperability

Potential Benefits of Blockchain Application

Proof Point Findings

  • Lower cost – Eliminate transaction costs from third-party intermediaries, overhead, due diligence, and authentication
  • Reduce financial services infrastructure cost by $15 to 20 billion per year by 2022 globally
  • Decrease financial institution annual spending on Know Your Customer initiatives by $4 to $8 billion globally
  • Generate up to $60 billion in savings for cross-border B2B payments globally
  • Improves efficiency – Removes intermediaries and bottlenecks, enabling fast and frictionless transactions
  • Nasdaq exploring instant share transfers between parties
  • Northern Trust improving private equity fund management throughout investment lifecycle
  • Toyota considering seamless sharing of car usage and driving data between car owners, fleet managers, and manufacturers
  • Ensures data integrity – Maintains high quality of data, including accuracy, completeness, and consistency
  • Blocktrace digitally storing diamond certificates
  • FollowMyVote creating verifiable voting system
  • Increases transparency – Provides full visibility on processes and completed transaction history, increasing trust between participants
  • Martine Jaarlgard tracking supply chain process from raw material to finished garment
  • IBM and Walmart collaborating to track pork movement in China
  • Nasdaq implementing blockchain ledger to increase transparency of advertising contracts
  • Drives automation – Utilizes algorithms and smart contracts to fuel automation of processing transactions
  • Gem using blockchain ledger to automate health insurance claims
  • Oaken looking to process instantaneous payments for connected cars
  • Visa’s DocuSign exploring automated lease and insurance signing and payments for connected cars
  • Promotes interoperability – Uses standards and linked blockchains, advancing data and information interoperability
  • IBM and Maersk collaborating on global trade digitization solution for logistics industry
  • Big four accounting firms working on accounting standards
  • Recloud developing on payment network in Africa
  • Enforces security – Prevents information tampering, identity thefts, system failures and denial of services
  • IBM’s Blockchain-as-a-Service preventing unauthorized access and shutting system down upon potential hack detection
  • Danish liberal party testing secure and tamper-proof system for internal elections
  • Estonia using e-voting system for shareholder meetings



Date Last Updated

January 12, 2018

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