Take Daimler, the maker of Mercedes-Benz cars, which borrowed €100 million ($114 million) via German bank LBBW using blockchain technology. The old way of taking out such a loan required drawing up contracts, communicating with investors, making payments, and extensive administration. The old way also apparently involved a fax machine for confirmations.

The excitement around blockchain may well mirror the dot-com bubble of the late 1990s and early 2000s, when lots of companies went bust, but a few gems emerged: Some 90% of so-called distributed-ledger projects will probably fail, but a few will survive with potential to change the financial world, says Ajit Tripathi, a director at PwC.

Source: How is blockchain technology used in the real world? — Quartz