HashCash to Bring About a Transformation in the Various Industries

Blockchain is the most chatted about technology at the moment. That, in spite of being a nascent technology, with hardly any proven use case (other than being the technology behind Bitcoin), to testify its beneficence.

Like most novel technologies and concepts on the horizon, Blockchain has its fair share of supporters and naysayers. Among the supporters you may count the overseas payment processing organizations; some of whom have already confirmed to be in the testing phase of blockchain implementation and others have claimed to be nearly there. Unlike those rushing to adopt the technology, there are some who are sitting on the fence waiting for some success stories rather than risk their resources on a technology that is yet to mature.

There are also organizations and individuals who have, meanwhile, championed the technology and are raring for challenges. The US-based software development company, HashCash Consultants, is one organization to has architected blockchain solutions for multiple industries leaving footprints across continents.

As of today, the immense potential of blockchain technology remains only fractionally harnessed leaving scope for a myriad of variations to be exercised. HashCash services have spanned several industries, providing blockchain alternatives.

Investment Management

Investment banking leaders shoulder responsibilities that exceed resolving the issues of the day. They are expected to foresee the market twists and turns and thereby choose appropriate avenues to invest the bank’s assets in; this in view of securing the bank’s future while also maximizing the returns.

HashCash Consultants provide solutions in the investment banking sector by providing a trusted Digital Identity. The digital identity is verified once and is hence locked on a blockchain. This is linked to financial records and transaction history. On a similar trail, upon the customer’s digital approval for new account registration, a smart contract is triggered to execute a search of the records and return an authorization to open (or not) the kind of account proposed by the financial institution.

Creation of open architecture Investment Management system enables easier sharing of account transactions, reduces reconciliation cost, eliminates intermediaries.

A Decentralized Automated Securities Trading exchange allows increased efficiency, reduced reconciliation time enabling faster trade settlement, prevention of data loss or redundant data, and restriction on errant data order placement.

Supply Chain

Blockchain can be the answer to numerous problems that plague traditional supply-chain management. The implementation of a blockchain-powered model can open up the potential bottlenecks in their operation.

HashCash offers increased traceability of material supply, by blockchain-driven systems, ensuring corporate standards are met. Losses from counterfeit/gray market trading are checked. Improved visibility guaranteed and outsourced contract manufacturing is rendered compliant. Reduction in paperwork and administrative costs.

Apart from the above, the HashCash team of developers strengthens corporate reputation by providing transparency of materials used in products. Credibility and public trust of data shared are improved. Prevents potential public relations risk from malpractice in supply chain operations.

Insurance

The current structure of insurance is weighed down by the following pain points.

  • Inefficient exchange of information.
  • Fraud prone
  • Complex liability assessment by syndicate/reinsurance.
  • Use of intermediaries.
  • Fragmented Data source.
  • Manual claims review and processing.

HashCash Consultants works to eliminate the above-mentioned hurdles and establishes trust through verifiable provenance information, efficient exchange of information, improved risk profiling, automation through smart policy.

Technology experts from HashCash ensure improved accuracy of pricing through transparent

quantification of risk and disintermediation of third-party intermediaries. They provide digital smart contracts to capture obligations and terms binding the insurer and the insuree.

Pharmaceutical

The promise of blockchain technology towards secure and rapid transactions around the world makes the pharmaceutical industry want to leverage its capabilities and are focused on revamping the supply chain.

HashCash Consultants facilitates an auditable trail and establishes drug provenance across the entire supply chain. A survey result from an authentic source reveals that nearly 70% of pharmaceutical and life science leaders trust blockchain will have the greatest impact in this avenue. A decentralized blockchain solution enables both manufacturers and their clients to independently verify the quality and trace the point of origin of drugs accurately and securely.

The potential of Blockchain in the prevention of diversion, counterfeiting, and tampering is immense. It is due to the transparency and traceability features inherent in the technology that drug products can be tracked from the production time to their delivery time. Attempts to maliciously change records will be visible to all parties instantly.

Mining

Blockchain promises security and transparency in business transactions, updations made to designs, documents, and related business agreements. These aspects of Blockchain make it relevant and applicable to the mining industry.

HashCash enables Mining companies to efficiently handle approvals of documentation created in the phases of exploration, resource/reserve estimation, mine design, and planning. HashCash's team of professionals works to enhance the mechanism of custody and control, with proof embedded in the documents that have been granted approval. Blockchain improves traceability of estimation of the reserve for stock exchange reporting. Thus also providing for the provenance.

Manufacturing companies and consumers are concerned about the source of minerals. Companies like Apple have decided against the use of minerals originating from conflict zones, and those mining companies that inflict underpaid labor under poor environmental standards. HashCash devises systems that bear the provenance and testify for the humane and ecological conditions for the sources

Government

Governments from around the globe may find multiple uses of blockchain technology. Beginning with registering the entire population on a blockchain, complete with all possible information of an individual and linking all departments to establish a national digital identity.

Secure and uninterrupted voting can also be carried out thanks to the transparency and immutability offered by Blockchain technology.

Government facilitated education and healthcare systems can be similarly impacted by harnessing the features of blockchain. National cybersecurity can also be heightened by the use of Blockchain technology.

Gaming

The gaming industry was the earliest adopter of the technology.

The industry suffered from the necessity to upgrade the consoles to keep up with the advent of novel visual software. This is pressing upon the gamers who spend a substantial amount on the hardware. Apart from that, there are issues of oversaturation in the market, lack of incentives, and accessibility which weighs heavy on the gaming enthusiasts.

HashCash Consultants resolves the issues by setting up cloud infrastructure for gamers to enable an unrestricted gaming experience. The robust security offered by the underlying blockchain technology secures the environment and enables safe and boundless gaming.

Recent Developments

Lately, HashCash Consultants has tied up with an Australian Cryptocurrency Enterprise to revamp their asset management wing by leveraging blockchain technology. This happens only months after a successful venture with yet another Australian Enterprise in settling cross-border asset movements and payments.

On a separate venture, HashCash loans their expertise to a Portuguese Company in building a crypto exchange for the said enterprise.

Conclusion

Blockchain, as is globally regarded, is as efficient as are the minds behind it. HashCash Consultants have made a mark even with the limited available opportunities in the blockchain sector and the general skepticism around the domain. It has been recognized for excellence and awarded for its role.

Passionate about blogging on Cryptocurrency, Blockchain applications, Artificial Intelligence & IoT.

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