Blockchain applications go far beyond cryptocurrency and bitcoin. With its ability to create more transparency and fairness while also saving businesses time and money, the technology is impacting a variety of sectors in ways that range from how contracts are enforced to making government work more efficiently.

I've rounded examples of real-world blockchain use cases for this pragmatic yet revolutionary technology. It's far from an exhaustive list, but they're already changing how we do business.

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SMART CONTRACTS USE CASES

Smart contracts are like regular contracts except the rules of the contract are enforced in real-time on a blockchain, which eliminates the middleman and adds levels of accountability for all parties involved in a way not possible with traditional agreements. This saves businesses time and money, while also ensuring compliance from everyone involved.

Blockchain-based contracts are becoming more and more popular as sectors like government, healthcare and the real estate industry discover the benefits. Below are an examples of how companies are using blockchain to make contracts smarter.

Example

• PROPY
  Industry: Real Estate
  Location: Palo Alto, California

How it's using blockchain: Propy is a global real estate marketplace with a decentralized title registry system. The online marketplace uses blockchain to make title issuance instantaneous and even offers properties that can be purchased using cryptocurrency

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MONEY TRANSFER USE CASES

Pioneered by Bitcoin, cryptocurrency transfer apps are exploding in popularity right now. Blockchain is especially popular in finance for the money and time it can save financial companies of all sizes.

By eliminating bureaucratic red tape, making ledger systems real-time and reducing third-party fees, blockchain can save the largest banks $8-$12 billion a year, according to a recent article by ComputerWorld. We’ll take a deeper dive into companies using blockchain to efficiently transfer money.

Example

• CHAINALYSIS
  Industry: Fintech, Cryptocurrency, Cybersecurity
  Location: New York, New York

How it's using blockchain: Chainalysis builds tools to help financial institutions and governments monitor the exchange of cryptocurrencies. The company’s due diligence software monitors and detects fraudulent trading, laundering and compliance violations, and builds trust in blockchain.

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INTERNET OF THINGS USE CASES

The Internet of Things (IoT) is the next logical boom in blockchain applications. IoT has millions of applications and many safety concerns, and an increase in IoT products means better chances for hackers to steal your data on everything from an Amazon Alexa to a smart thermostat.

Blockchain-infused IoT adds a higher level of security to prevent data breaches by utilizing transparency and virtual incorruptibility of the technology to keep things "smart." Below are US companies that using blockchain to make the Internet of Things safer and smarter.

Example

• FILAMENT
  Industry: Internet of Things, Hardware, Software
  Location: Reno, Nevada

How it's using blockchain: Filament creates software and microchip hardware that lets connected devices operate on blockchain. The Reno-based company’s products encrypt ledger data, distribute real-time information to other blockchain-connected machines and allow for the monetization of those machines based on timestamps.

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