One use case of blockchain technology is where tenants pay their landlords both rent and electricity bills, but the tenants are unsure of how much is required to pay for electricity because they shared electric meters and couldn't keep track of their individual power consumption rates. Scenario: Alice is a landlord who owns a multi-unit rental property with shared electricity meters. She has faced challenges in accurately tracking rent payments and electricity usage from her tenants, leading to disputes and delays in billing. Here are some of the ways Alice can use blockchain to streamline her rental property management processes. 1. Rent and Electricity Payment Transactions: With a blockchain-based system, Alice can easily track rent and electricity payment transactions. For example, when Bob, one of Alice's tenants, makes a rent payment through the dApp, the transaction details are securely recorded on the blockchain ledger. Alice can access the ledger and view a transparent payment history, eliminating any potential disputes or confusion regarding payment amounts and due dates. 2. Blockchain-based Smart Contracts Alice can create smart contracts to automate and enforce rental agreements. For instance, when Alice and Charlie, another tenant, agree to the terms of the rental contract, the details are encoded in a smart contract on the blockchain. The smart contract automatically executes the agreed-upon terms, such as the rent amount, due dates, and penalties for non-payment. This ensures that both Alice and Charlie have a transparent understanding of their obligations and that the contract is enforced without the need for manual intervention. 3. Secure and Decentralized Identity Verification When potential tenants apply for Alice's rental property, they can submit their personal information and identity documents securely through a blockchain-based identity verification system. The system verifies the authenticity of the documents without compromising the applicants' privacy. For example, when David applies to rent a unit, his identification documents and credentials are stored on the blockchain. Alice can access this information for verification purposes, ensuring that she rents her property to a legitimate and trustworthy tenant while maintaining data privacy and security. 4. Secure Energy Consumption Recording Block-chain-based systems securely record energy consumption data from shared meters on the blockchain. This ensures accurate billing and prevents tampering. For instance, when Eva, another tenant, uses electricity, her consumption data is recorded on the blockchain. This data is then used to calculate her individual energy usage and accurately bill her accordingly. Eva can have confidence in the transparency of her billing, knowing that her electricity consumption is being accurately recorded and shared with Alice, eliminating any disputes or concerns about unfair distribution of costs.

By tackling problems like transparency, fraud, counterfeiting, and inefficiency that frequently afflict the global supply chain, blockchain technology can significantly improve supply chain management. A blockchain-based system can be used to record a product's whole lifecycle on a visible and immutable ledger. This enables real-time documentation of every phase of the supply chain, from material sourcing to manufacture, distribution, and retail, producing a trustworthy and auditable record of all transactions and interactions. The advantages of using blockchain in supply chain management include: 1.Enhanced Transparency: Blockchain provides a decentralized and transparent platform where all participants can track and view each step of the supply chain process. This transparency eliminates information asymmetry, reducing the risk of fraudulent activities and unethical practices. 2.With blockchain, each product can be assigned a unique identifier or digital twin recorded on the blockchain. This enables stakeholders to trace the product's origin, manufacturing details, transportation history, and other relevant information. In cases of recalls or quality issues, identifying affected products becomes faster and more precise, minimizing the impact on consumers. 3.Counterfeit Prevention: Products that are counterfeit present serious problems for a number of businesses, including lost sales and potential injury or harm to customer. Every product can have a digital fingerprint created and stored at every step of the supply chain thanks to blockchain technology. By scanning a product's QR code or NFC tag, customers and merchants may quickly confirm its validity and make sure they are buying genuine items. 4.Streamlined Processes and Efficiency: Blockchain-based smart contracts automate and streamline various supply chain processes, including procurement, inventory management, and payment settlements. These self-executing contracts enforce predefined rules and eliminate the need for intermediaries, reducing paperwork, improving efficiency, and potentially lowering costs. 5.Data Security and Integrity: Blockchain employs cryptographic algorithms to ensure the security and integrity of stored data. By encrypting sensitive information and distributing it across multiple nodes, blockchain protects against data breaches and unauthorized tampering. This is particularly crucial when handling confidential data related to intellectual property, contracts, or customer information. To implement blockchain in supply chain management, private blockchain network would be established, involving key stakeholders such as manufacturers, suppliers, distributors, logistics providers, and retailers. This network would serve as a decentralized ledger where relevant data is recorded and validated, ensuring transparency and trust among participants. Smart contracts would play a crucial role in automating actions based on predefined conditions. This will solve the issue of trust among the various stakeholders. For example, when a shipment reaches a specific location, a smart contract can automatically trigger payment processing or update inventory levels. This automation reduces human errors, streamlines processes, and ensures adherence to contractual agreements. The integration of Internet of Things (IoT) devices further enhances supply chain transparency. IoT sensors can collect real-time data on temperature, humidity, location, and other environmental factors, which can be recorded on the blockchain. This information adds an extra layer of visibility and quality control throughout the supply chain, particularly for products with specific storage requirements such as pharmaceuticals or perishable goods.