Are you looking for Hyperledger Fabric use-cases? If you do, then you have come to the right place.
Hyperledger is one of the most prominent open-source blockchain technologies projects. Its presence is already felt across the business. Right now, it is best described as an umbrella of projects where the aim is to provide libraries, tools, and frameworks for enterprise-grade blockchain deployment.
With more than 15+ projects within the Hyperledger Umbrella, it is slowly growing and ensuring that it creates a standard for blockchain technology when it comes to implementation.
One of its most promising projects includes the Hyperledger Fabric project.
So, why is it so impactful compared to other projects within the Hyperledger umbrella? Let’s find out.
What is Hyperledger Fabric?
Hyperledger Fabric is a permissioned distributed ledger framework that enables the development of enterprise-grade applications and solutions.
To ensure it is easy to integrate and develop, the design is kept versatile and modular. Clearly, this also means that it can fit into different use-cases and provide a unique way to solve consensus within a network without the need to sacrifice the performance or privacy.
Key Capabilities of Hyperledger Fabric
Before we dive deep into the use cases of Hyperledger Fabric, let’s list some of its key capabilities.
- Identity Management → Hyperledger Fabric is a permissioned network which means that it offers a proper membership identity service. It can be used to authenticate and manage IDs for those who are participating in the network.
- Efficient processing → The network created using Fabric is efficient as it ensures that the execution of the transaction is separate from the transaction commitment and ordering. It also provides parallelism and concurrency.
- Chaincode functionality → It supports chain code functionality which is useful for a specific type of transactions including asset ownership change and so on
- Privacy and confidentiality → Hyperledger Fabric protects the business interest by ensuring that the transactions are confidential and private and stay within the same permissioned network.
- Modular design → The last key capabilities include modular architecture which enables designers to use it with other systems and improve or change its functionality depending on the requirement.
Hyperledger Fabric Use Cases
Now that we have a good understanding of Hyperledger Fabric, it is now time for us to go through use cases for Hyperledger Fabric. These Hyperledger Fabric use cases contain both canonical and extended use cases. We will also go through Hyperledger Fabric case studies to get a better understanding of the use cases that we discuss here.
Manufacturing Supply Chain
One of the most obvious use cases for Hyperledger Fabric is the manufacturing supply chain. The final assemblers can utilize Fabric to create a supply chain network that can be better at maintaining the demand and supply between the part-supplier and the manufacturers. Using Fabric means more responsiveness in the whole system.
Also, the use of the standard protocol among the participants means that each one of them follows the same rules and regulations, creating a standard approach.
Caption: Hyperledger Fabric use case: Manufacturing supply chain
Another useful Hyperledger Fabric use cases that you need to learn about is the B2B contract. So, what does it do? In a B2B contract, two parties automate agreements in a trusted environment.
To ensure that both party’s privacy and security are maintained, Hyperledger Fabric provides a permissioned way to manage the contract. This way, sensitive business information is never shared other than those two parties.
It is also useful when it comes to making contracts discoverable to the ledger parties.
This way, the parties can check the contract and bid accordingly. Hyperledger Fabric ensures that the approach is standardized where bidders can find the contract and bid on them without the need to directly connect with the other business party.
Caption: Hyperledger Fabric Use Case: B2B Contract
Another use case of Hyperledger Fabric is the Asset depository. In this use case, assets can be dematerialized on the blockchain network.
This way, all the stakeholders can directly access the asset and then use it to do trading. The best Hyperledger Fabric real use cases based on asset depository are financial securities and the likes.
By using this approach, the traders do not have to worry about intermediates and can directly interact with the market in real-time. Businesses or stakeholders, on the other hand, can add business rules to the stored assets and help reduce operating costs.
Hyperledger Fabric is also useful when it comes to more specific scenarios or requirements. For instance, it can help establish direct communication with the company and the stakeholders in real-time when the time arises.
So, if a company aims to either crowdfund or want to sell a percentage of their stocks to other companies, they can create the pipeline using Hyperledger Fabric. This way, they do not have to worry about the intermediaries and provide the right information to the right person at the right time.
Hyperledger Fabric can also be used to provide companies, stakeholders, and end-users the ability to change one type of asset to another.
This is helpful in cases where one party has one type of asset whereas the other one doesn’t accept it. They can simply change the asset type and complete the transaction. The process can also work even when there is not enough liquidity in the market.
Hyperledger Fabric Case Studies
The right way we can learn about the use-cases is to go through some of the case studies. These case-studies will give you a clear idea of the Hyperledger Fabric real use cases. So, let’s get started.
Cut Onboarding by Chinayard and IBM
In this case study, we will learn about how IBM and ChinaYard utilize Hyperledger Fabric in the manufacturing sector. They were able to use Fabric to reduce new vendor risk and improve the onboarding time from 60 days to 3 days! That’s impressive considering the amount of saved time.
With it, they can now onboard B2B suppliers much faster with better risk management. They will create corporate digital IDs which will create new industry standards.
If you are interested, you can read more about the case study here.
Create Online Parts Marketplace by Honeywell Aerospace
Honeywell Aerospace has created an online part marketplace with the help of Hyperledger Fabric. This is done to improve the purchasing time by cutting them to days instead of weeks.
It will also help create an Amazon-type marketplace for aircraft parts. Earlier, it took the buyer’s travels and meetings before they can decide on parts. Now, the buyer needs to buy parts just like they do from an eCommerce site.
It also helps boost anti-counterfeit measures. If you want to read more about the case-study, check out the link here.
Improve Claims Lifecycle by Change Healthcare
Healthcare claims have always been a challenging experience for patients. Change healthcare wants to change it, and they are doing it with the help of Hyperledger Fabric. They want to improve the transparency and throughput of the claims process and also improve overall feasibility.
To do so, they are going to define requirements, choose the right platform, and test it with millions of transactions.
If you are interested in learning more about the case study, then check out the link here.
Improving Transparency to the Food Supply Chain by Walmart
The food supply chain is currently being transformed by Walmart as they are bringing unprecedented transparency with Hyperledger Fabric.
By using Fabric, they are enabling the food to be tracked at every step of the journey, bringing transparency and authenticity to the food that we eat.
Read more here.
Next-Generation Credentials Platform by Sony Global Education
The last of the Hyperledger Fabric case studies we are going to list is the next-generation credentials platform.
This is managed by none other than Sony Global Education as they aim to take advantage of distributed ledger technology such as Hyperledger Fabric. It will enable the organizations and government agencies consortium to improve training data and education with a centralized approach.
Interested in reading more? Check here.
Hyperledger Fabric Businesses Use Cases
In this last section, we are going to discuss the Hyperledger Fabric business use-cases. All these use-cases are business-oriented and offer a wider perspective and implementation of Hyperledger Fabric.
The pharmaceutical industry can benefit immensely with the use of DLT such as Hyperledger Fabric. IBM is already working on a blockchain enterprise system that will be built on top of Fabric.
They partnered with Sichan Heija, a Chinese conglomerate. This will improve the credit evaluation and the payments that took 2-3 months will now be delivered almost instantly.
The drug tracking will also be improved with the use of Fabric as it will bring transparency and security to the supply chain.
Financial services will also improve with the use of Fabric. The financial institutions will now be able to benefit from privacy, confidentiality, and accountability.
The fact that the network can be maintained privately without the need for any external entity can lay the groundwork for these financial institutions as they value privacy more than anything else. Everything will also be secure with the use of cryptographic algorithms in the DLT such as Fabric.
Apart from that, smart contracts can help financial services to automate different aspects of the process and remove unnecessary paperwork.
Banking, similar to financial services can benefit from the use of Hyperledger Fabric. It can help banks to be well-equipped with the latest technologies, and protect their transactions from any cyber-attacks. They can also use it to provide a seamless experience to the user who wants their transactions to be done within a matter of minutes.
We have already covered a case-study where healthcare is using Fabric to ease out the claims process. However, that’s not the only way, the healthcare industry can use Fabric. They can also use it to ensure proper privacy protection, remove counterfeit issues, and store health medical records digitally.
On top of all of these, the Fabric DLT can also be used to remove counterfeit drugs from the supply chain.
Internet of Things(IoT)
The Internet of things can be further improved with the help of Hyperledger Fabric. As devices need to be connected, they need a backbone network to function properly that is secure and can offer a fast network for the means to connect with each other. Fabric can provide a robust protocol to manage all of these.
Education and Training
Fabric can be used to improve education and training. IBM partnered with multiple institutions in the year 2017-2018. By using Fabric, the students can use a better way to handle their work assignments or get certifications that can be accessed from anywhere.
There is no doubt that supply chain management will benefit the most. As you should already know distributed ledger technologies can help improve the whole chain by introducing transparency, immutability, and security.
The supply chain will grow in the upcoming years where the growth will be more than 200%.
It improves the quality of the food transport and ensures that there is enough transparency on the part of the consumers.
Governments are already struggling when it comes to managing their different processes. With the current pandemic situation, the government needs systems that are reliable and can be scaled whenever needed without impacting security and transparency.
Fabric can provide the government with a way to create permissioned networks for their internal handling. They can also create modules for digital identity and connect the people to the system accordingly.
This leads us to the end of our Hyperledger Fabric use cases. We covered various Hyperledger Fabric use cases including canonical, situational, and business.
Hyperledger Fabric offers a robust framework so that any entity can create a solution around it. Its modular design is its biggest advantage, followed by efficiency and security.
So, what do you think about the Hyperledger Fabric use cases? Comment below and let us know.