Hyperledger Fabric has become the backbone of thousands of Hyperledger enterprise solutions available in the market. It came into the market to promote a reliable collaboration between multiple businesses and offers an umbrella strategy that uplift blockchain technologies, interfaces, and applications.
Hyperledger is an open-source blockchain framework that improves the efficiency of cross-industry blockchain solutions. The key features of choosing a hyper ledger as an enterprise solution include permission network, efficiency, scalability, trustworthiness, and security of digital keys and user sensitive data.
Hyperledger Fabric Real Time Use Cases
Hyperledger blockchain enterprise solutions are becoming adopted in the market these days. There are several real-life use cases available; let’s explore some of them.
Transparent Medicine Supply
The medicine supply chain is struggling for years to achieve transparency and traceability that can help to find out the culprit in the network. On the other hand, pharmaceutical retailers are unable to secure finance because of immature credit systems. In most cases, they have to wait for months to get paid after delivering orders.
Hyperledger enterprise solutions have the potential to track drugs throughout the chain and store trading records. This transparency will develop transaction authenticity, lower credit risks, and make the payment cycle short.
Trade Financing Solutions
The trade financing sector has to bear huge labor costs, long transaction cycles, and security expenses to make the system reliable. Besides these, transparency and traceability remain a big challenge for financial firms.
In 2017, Mizuho partnered with IBM to develop a blockchain-based trade financing platform. IBM used Hyperledger Fabric to speed up transactions and save labor costs. The digitalization of shipments is enabling all network members to view the latest shipment. It will ultimately make trade financing transparent and cut processing costs.
Energy Management System
With the lack of technological advancement in the energy sector, many countries are undergoing an energy crisis. Recently, IBM is developing a distributed database to manage the electricity grid in Germany and Netherland. This project will create a huge impact on energy sources globally as it will identify areas that are facing a shortage of electricity. To fill the power gap: electric cars and batteries will deliver electricity to those areas using a blockchain network based on Hyperledger Fabric.
Hyperledger enterprise solutions have the great potential to overcome energy supply worldwide referring to an increase in volatility in the energy supply chain.
Streamline Food Supply Chain
With the dramatic growth of eCommerce sales globally, the real-time tracking of goods becomes essential to satisfy customers. In 2017, Walmart made a partnership with IBM to develop a Hyperledger Fabric enterprise system to track food supply from suppliers to end-users. Walmart is using IBM food trust technology to make a complete collaboration between stakeholders.
Walmart states that without Hyperledger enterprise solutions, it would not be possible to track and record transactions. Due to the efficiency, Hyperledger has offered to Walmart, many other companies like McCormick, McLane, Nestle, and Unilever are also looking to integrate it into their supply chains.
Hyperledger Fabric goes beyond blockchain technology, covering the business, industrial and educational world. It offers highly scalable enterprise applications, delivering Hyperledger enterprise solutions to improve and optimize existing systems. Hyperledger based enterprise networks have the great potential to empower each sector.