Key sectors that the distributed ledger (blockchain), related tokenization (e.g. for digital currency applications) and smart contracts applications will address are:
Government-to-government (G2G) verification and validation of assets and data related to finance, development aid, asset registers, taxation, duties, to prevent money laundering, and to monitor sanctions and trade agreements.
Government-to-business and business-to-government (G2B2G) information tracking, auditing, taxation, foreign exchange, remittances, and foreign trade monitoring have historically been challenging. Trade marks, intellectual property rights and patents protection.
Government-to-Citizen (G2C2G, also P2G and G2P) services could cover every aspect of services to citizens such as registration, taxation, issuing of passports, voting and the engagement of citizens with government agencies at every level. Vast disparate systems cannot cope with the demand and the multiplicity of duplicate public records, creating silos and multiple points of failure open to hacking, personal identity risk and fraud.
Business-to-Business (B2B) covers aspects of inter-business trade and settlements, manufacturing and distribution, logistics, supply chain management, digital rights and online services; digital asset management, interexchange and protection.
Interactive Business-to-Consumer (B2C2B) asset value exchange in physical and online retail and services, linked to social media will increasingly become a driver for national and global economies. Business will in turn leverage consumer (big) databases and performance tracking to streamline their services and deliver value at scale. The management of digital copyright, IP and patents to enable the end-to-end value chain will drive the manufacturing of products-on-demand and payments processing.
Citizen-to-Citizen (C2C) and Peer-to-Peer (P2P) marketplace engagement will increasingly manifest in the shared and digital economy with crowdfunding, peer to peer lending, informal trade, barter and exchange as drivers.