Uses of Consortium Blockchain
- Supply Chain Management: Consortium blockchain can bring transparency and immutability to the supply chain management process. It can also help in tracking goods and managing inventory.
- Cross-Border Payments: Consortium blockchain can be used for cross-border payments and remittances. For this purpose, it is usually combined with a stablecoin.
- Payments: Consortium blockchain can be used for payments in many industries. It can be used for online payments, utility bill payments, etc.
- Digital Identity: Consortium blockchain can be used for storing and managing digital identities. It can also be used for authenticating and authorizing transactions.
- Internet of Things: Consortium blockchain can be used for managing and connecting devices in the Internet of Things. It can be used for data sharing, data management, and data security.