[BLOG] Adaption of Blockchain
As the adaption of blockchain is increasing in diverse areas, and the blockchain is actively considered in some unexpected areas as well. This year, the blockchain technology seems to be actively commercialized and many companies are adapting blockchain technology. Blockchain technology is not only used in commonly known blockchain based payment systems but also the data for the organ donation, sharing of genetics data, renewable energy development and other industries as well. Recently, the blockchain based renewable energy project had been introduced as well. Also, a company in Swiss is developing a blockchain based medical platform to match the organ donors with the patients for efficient medical performance. From renewable energy to organ donation, blockchain can help humanity more than we can imagine in various sectors.
Blockchain’s capability is receiving much attention from many industries, but the most important aspect of the blockchain is the immutable data technology. The specialty of the blockchain is receiving much attention from the industries that need the transparency of the data and determining the authenticity of the products. For example, blockchain technology can be applied in used car markets where the consumer must check the validity of whether the car has been flooded or not. Through the adaption of blockchain technology, verifying the records of the used motor vehicles by transparently sharing the information. Also, a blockchain based electronic document verification system had been developed to fundamentally prevent the unauthorized editing of the documents.
Other than such, adaption of the blockchain is active in the art industry as well. Why should blockchain be adapted into managing art pieces? The reason is that the high-priced artworks are sensitive to temperature, humidity, and its environment, so any minor damage can drop the value of the art piece. Also, the investors of the art pieces are sensitive to the authenticity of the works since the art pieces are highly-priced items. When blockchain is adapted into the art industry, the authenticity of the art pieces will be transparently shared through utilization of the blockchain’s specialty of immutable and transparent data.
Accordingly, artwork crowdfunding platform Art-Together made a partnership with TEMCO last year and made an announcement to integrate blockchain technology into their platform. Art-Together plans to transparently manage and share the records of the entire supply chain process, from purchase to delivery, storage, and transfer of ownership. Through TEMCO’s blockchain technology, the tracking and transparent management of the art works may become possible. Through this, Art-Together can prevent art-works from minor damages due to the environment. Also, investors of the art pieces can transparently view the information about the artworks that they are purchasing.
Art-Together saw that TEMCO’s technology helps add transparency to the infrastructure of transactions involving artworks and contributes to commercializing the artworks that are considered as exclusive relic items.
CEO of Art-Together, Sang Jun Lee discussed the reasons why Art-Together made partnerships with TEMCO through a media. The CEO Sang Jun Lee mentioned that as he was stressing about managing and tracking the art-works transparently and share the information with the investors, he came to find out about TEMCO, a blockchain based supply chain data management platform. TEMCO’s blockchain technology shares information transparently with all the supply chain participants, which is in line with the philosophy of Art-Together, who plans to commercialize the art industry.
TEMCO’s blockchain based supply chain data management technology helps contribute to accelerating the commercialization of the art industry. Other than that, TEMCO solution is adaptable into many other industries as well. TEMCO solution may be applied to the process during the Blood transfer, delivery of electronic parts, transporting emergency equipment, and reduction of waste and more.
TEMCO: Innovative Supply Chain Data and E-Commerce Solution through Blockchain and Smart Contract Technology.
▶TEMCO Official Website: https://temco.io
▶TEMCO Chatroom: https://t.me/temcolabs
▶TEMCO Twitter: https://twitter.com/TEMCOLABS
▶TEMCO Reddit: https://www.reddit.com/r/temcolabs
▶TEMCO Facebook:https://www.facebook.com/TEMCOLABS
