The Internet is to Communications as Blockchain is to the transfer of value.
Value can be perceived in several ways. Blockchain offers another “layer to the internet” where businesses can begin simplifying trade at reduced costs while mitigating risks associated with trust between parties.
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Finance & Insurance Blockchain Use Cases
A common and time consuming challenge that the Insurance industry currently faces revolves around the decision making path pertaining to claim settlements. From the Policy Holder side, reimbursement or settlement of a claim can take months and in some cases years. Insurance carriers not only need to investigate and verify the claim against the policy terms internally, the Re-Insurers run through the same process of discovery. An immutable and distributed ledger (shared) among participants such as Brokers, Insurance Carriers and additional Re-Insurers, eliminates the decision making processes by hosting the policy terms in agreed upon Smart Contracts that offer all parties immutable and transparent business process automation.
Improve Cross Boarder Payments
In the 20th century, Cross Boarder Payments required an intermediary party to guarantee, reconcile and facilitate or route transactions to create what was once considered “efficient”. If the global economy was capable of trusting each others ledgers when sending and receiving funds without the need of an auditor or an accountant, for either each party (sending and receiving) or a central party (ex. Swift), why would parties pay pricey premium for lengthy transactions? Blockchain offers the 21st century a method of “Peer to Peer” transactions which are stored in a distributed and immutable ledger which now acts as the trustworthy “intermediary”. Not only will payments transact and settle in near real time, your business can rest assured knowing the transactions remain auditable and that the Blockchain network is governed digitally where rules cannot be broken.
Tokenize Digital Assets for Trade
While we see the evolution of Cross Boarder Payments and the benefits of “Peer to Peer” transactions, global trade still heavily relies on the liquidity of assets to reduce fees when exchanging commodities. Having trust in a commodity builds demand and ultimately liquidity in the exchange of a commodity. Tokenizing Digital Assets such as Real Estate, Stocks, Bonds, Government Currencies and other Commodities, will offer the world a revolutionary way to begin transacting any Digital Asset of choice in a “Peer to Peer” manner. This will usher in a new age where commodities (ex. Real Estate or Electricity), despite the commodities global demand, which are currently illiquid due to their physical nature and lack of tangibility, to be traded digitally much like currency exchange today. The reduced costs of exchange will impact and greatly increase trade for countries who’s government currencies remain illiquid and the resulting new market opportunities will help stabilize and reduce the rate of rising commodity prices.
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Envision Blockchain Solutions builds applications for the Web3 space. Our mission is to reshape and align today's systems allowing organizations to recognize the new value in tomorrow's Industry Vertical Solutions. The management team has years of Fortune 500 experience and has built a team of subject matter experts in Web3 and Business Transformation Processes. We focus on guiding organizations through 3 major milestones on their Web3 journey: Use Case Analysis, Proof of Concept Development, and Scaled Deployments.
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