Are you looking for Hyperledger Fabric use cases? Here, we will go through the top Fabric use cases and case studies to help you understand the real-world implications of this platform.
Hyperledger blockchain 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.
Want to learn the basic and advanced concepts of Blockchain and Hyperledger Fabric? Enroll Now in Hyperledger Fabric Course
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 performance or privacy.
Take a deep dive into common hyperledger terms with the Hyperledger Flashcards
Key Capabilities of Hyperledger Fabric
Before we dive deep into the top use cases of Hyperledger Fabric, let’s list some of its key capabilities.
Hyperledger Fabric is a permissioned network which means that it offers a proper membership identity service. It can be used to authenticate and manage digital identity for those who are participating in the network.
Want to understand the concept of decentralized identity? Enroll now in the Decentralized Identity Fundamentals Course
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.
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 blockchain network.
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 is one of the top-rated blockchain platforms on the market right now, including Ethereum. Therefore, you will distinctively be curious about which one is better or which one is more suited for your platform. However, both platforms offer a different kind of approach to the blockchain niche.
Build your identity as a certified blockchain expert with 101 Blockchains’ Blockchain Certifications designed to provide enhanced career prospects.
Best Hyperledger Fabric Use Cases
Please include attribution to 101blockchains.com with this graphic. <a href='https://101blockchains.com/blockchain-infographics/'> <img src='https://101blockchains.com/wp-content/uploads/2020/06/Hyperledger-Fabric-Use-Cases.png' alt='Hyperledger Fabric Use Cases='0' /> </a>
Now that we have a good understanding of Hyperledger Fabric, it is now time for us to go through the top use cases of Hyperledger Fabric. These are the best Hyperledger Fabric use cases that contain both canonical and extended use cases. We will also go through Hyperledger use cases to better understand the use cases that we discuss here.
One of the most top use cases of Hyperledger Fabric is manufacturing. 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. Blockchain in manufacturing can really alter the current scenario once and for all.
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.
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-world examples based on asset depository are financial securities and the like.
By using this approach, the traders do not have to worry about intermediates and can directly interact with the market in real time. On the other hand, businesses or stakeholders 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.
Another one of the best 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.
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 Hyperledger Fabric uses to go through some of the case studies. These case studies will give you a clear idea of the Hyperledger Fabric real-world example. There are many companies using blockchain technology, but we will cover some of the big projects. So, let’s get started.
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 e-commerce site. It also helps boost anti-counterfeit measures.
Cut Onboarding by Chinayard and IBM
This case study 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. This is surely one of the enterprise blockchain use cases.
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.
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.
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.
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. This is one of the renowned Hyperledger Fabric supply chain use cases and case studies. By using Fabric, they enable the food to be tracked at every step of the journey, bringing transparency and authenticity to the food we eat. Therefore, blockchain in the food industry can offer you the food safety you deserve.
Hyperledger Fabric Businesses Use Cases
In this last section, we are going to discuss the Hyperledger Fabric uses. All these Hyperledger Fabric uses are business-oriented and offer a wider perspective and implementation of Hyperledger Fabric.
Trade Finance is another use case of Hyperledger Fabric. In reality, there are many companies already using trade finance blockchain solutions to streamline their processes. It can help in processing international trade payments within seconds and track all the trade processes in real-time. More so, it can also ensure that no products get altered suing transaction. Therefore, it can also track logistics, as well.
Want to learn about trade finance in blockchain?, Enroll Now in Blockchains and Trade Finance Course
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. Blockchain in pharma is a wonderful addition as it can solve a lot of issues.
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.
Start your blockchain journey Now with the Blockchains Fundamentals Course
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.
Want to understand how blockchain is changing finance industry and how companies are using this technology?, Check out Blockchain in Finance Presentation
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 and create a new infrastructure of blockchain for healthcare solutions.
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. Blockchain and IoT can provide a robust protocol to manage all of these.
Want to understand the fundamentals of the Internet of Things (IoT)? Enroll Now in IoT Fundamentals Course!
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, blockchain for supply chain can help improve the whole chain by introducing transparency, immutability, and security. Hyperledger Fabric use case in the supply chain sector is massive as it can streamline the whole process at ease.
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.
Learn about the suppy chain in blockchain, Enroll Now in Blockchains and Supply Chain Management Course
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 blockchain for government schemes 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.
If you are looking for popular Hyperledger Fabric use cases then the insurance sector is the perfect catch for that. Actually, many companies use blockchain technology for insurance-focused solutions; however, most of these use Fabric. Using this tech, the industry can deal with all the corruption and fraudulent activities.
The rise of scams and fraud in this industry is a very concerning matter at the moment, and Fabric can put a stop to it. In reality, automating the process of insurance claiming can really ease up the process for both the company and the buyer. This is how blockchain for insurance is making a difference.
Real estate is another great industry where various Hyperledger Fabric use cases are thriving. Many real estate companies are using this platform to liquidity this market. In reality, the market is quite unstable and out of the reach of middle-class citizens. It’s a massive issue where only the high-end buyer has access to it.
Using Fabric, this industry can offer fragmented ownership, which is a great way to invest in this business. More so, it can also streamline international property dealing without any compacting process. Thus, using blockchain for real estate can truly make a change in this sector.
Want to get in dept understanding of real estae in blockchain?, Enroll Now in Blockchain For Real Estate Masterclass
This leads us to the end of our list of the best 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.
If you are interested in this technology and want to integrate it into your business or develop solutions, then we recommend starting with our getting started with Hyperledger fabric course . Any novice will understand every concept of Hyperledger Fabric using our expert courses.
*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!