Interesting Use Cases of the Internet Computer Blockchain in Enterprise Solutions Today
Enterprises today have benefited a lot from the digital transformation that has taken place in the 21st century today. However, enterprises today still face certain challenges.
They often ask, how can we
- streamline our operations,
- enhance the security of our systems, and
- cut costs?
In recent times, the Internet Computer blockchain seems to have emerged as a promising blockchain offering a number of solutions for Enterprises.
In this article, we’ll explore how the Internet Computer is championing change in the enterprise world by examining seven (7) use cases in organizations today. Let’s get started!
1. Decentralized Identity and Access Management
The Internet Computer introduces a robust decentralized identity solution called Internet Identity that empowers users to control their digital identities without relying on centralized authorities. This enhances security, reduces the risk of data breaches, and simplifies user access across services, fostering a seamless and secure experience.
For example, an e-commerce website built on the Internet Computer and using Internet Identity for user authentication may have less need to draft a privacy policy document explaining how it uses customer data such as emails.
You can learn more about the novel use cases of Internet Identity here.
2. Supply Chain Management
Supply chain management often involves complex networks of suppliers, manufacturers, and distributors. Analysis of the Internet Computer’s decentralized architecture suggests that it could streamline this process by providing an immutable ledger for transparent and secure tracking of goods and transactions.
Canister smart contracts can automate key aspects, such as payment verification and inventory management, reducing errors and delays. Interestingly, enterprises are already exploring some use cases of the Internet Computer Protocol in supply chain management.
For example, on March 21, 2023, a recent partnership announcement between FederItaly and ORIGYN would see digital certificates being issued on the Internet Computer that would make it easy to detect fake Italian goods from the originals.
3. Decentralized Finance (DeFi) Integration
Enterprises often rely on traditional financial institutions for various financial services. However, the presence of DeFi on the Internet Computer would allow enterprises to access decentralized financial services, such as lending, borrowing, and asset management while maintaining control over their assets and data.
For example, Sygnum Bank became the first Swiss bank to offer custody and banking services for the Internet Computer utility token (ICP).
4. Secure Collaboration and Document Management
Remote work has become very popular today, and so has secure collaboration and document management in enterprises become important too.
For example, using Dmail, a web3 encrypted email service built on the Internet Computer, enterprises can securely collaborate and share files securely within their organization.
5. Decentralized Applications (dApps) Development
Developing and deploying dApps on traditional infrastructure can be cumbersome and costly. The Internet Computer offers a more cost-effective and efficient alternative where enterprises can build and deploy dApps on a scalable and decentralized blockchain, reducing infrastructure costs and enhancing user experiences.
6. Scalable Data Storage
Enterprises generate vast amounts of data that require secure and scalable storage solutions. The Internet Computer also provides decentralized data storage that appears to be both secure and scalable. This ensures data availability and integrity for large-scale enterprises while reducing storage costs.
7. Community Engagement and Governance
The ability of a company to engage stakeholders and employees in decision-making processes is vital today. The Internet Computer’s governance features can enable enterprises to involve their communities or employees in decision-making, such as voting on proposals or strategic directions.
For example, using the SNS (Service Nervous System) an enterprise can decide to deploy as a dApp on the Internet Computer Protocol, doing so will allow its users and employees to make decisions on the direction they want the enterprise should follow.
Another real-life example is Pluxee, a firm that recently distributed 5,000 unique NFTs on the Internet Computer to their employees.
Conclusion
Can Web3 and Web2 cooperate harmoniously? Our discussion about the Internet Computer’s use cases in enterprise solutions gives us a hint that this is possible. We have seen how the Internet Computer by means of partnership with the likes of Pluxee, FederItaly, and ORIGYN offers a decentralized and efficient alternative to traditional enterprise infrastructure, unlocking new levels of authentication, security, transparency, and cost-effectiveness. The future of enterprise solutions is now — thanks to the Internet Computer.
The article series continues. In the next and final article in our series, we will look into the core team behind Internet Computer. Until then, we say thank you for reading. Please feel free to leave your comments in the comments section.
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Disclaimer: The information presented in this piece is merely for educational purposes only, it contains the viewpoint of the author and does not constitute investment advice. Readers are kindly advised to do their research on the subject and are free to disagree with the viewpoints shared by the author here. Thank you.
