[Translation to English] Blockchain use cases

This article discusses three items: tracking management, corporate record (documentation) management, and streamlined finance.

In the main text about tracking management,
and it adds that, for example domestically,ART iT, plans to establish a joint venture with a Viacoin cryptocurrency exchange to provide an application enabling the transfer of art registrationbased on the NEM notarization (apostille) will be developed and provided, which would correspond to that.

Now, let's read the main text in Japanese.

Blockchain Use Cases

Supporters claim that through blockchain, it will be possible for individuals or organizations who do not need to rely on centralized institutions or clearing houses to share databases without needing to trust each other.

A blockchain-based database is modified by "transactions." In centralized databases, transactions and edits are executed and supervised by centralized institutions, whereas blockchain transactions can be executed by anyone. The database provides rules and criteria to verify and authenticate transactions and determine that they are legitimate and not fraudulent.

Smart contracts have drawn attention as part of blockchain technology. They are tools to regulate transactions in a database. Supporters argue that more will be possible with smart contracts in the future, but at present, that claim remains wishful thinking.

Thanks to new methods that improve efficiency while ensuring the security of intellectual property, and to mechanisms that authenticate it, blockchain may fundamentally change how companies manage records.