By CCN: USAA and Submit Farm have reportedly closed a deal that will see them using the blockchain to pay each other.So when two people get in an serendipity, and they’re represented by either of the companies, the company that has to pay will eventually be using a blockchain solution to settle the inter-company payment.Billions Per Year Dwelled On BlockchainThe claims amount to billions of dollars a year, which is a lucrative volume that blockchains can settle in write downs. The advent of stablecoins and clearer regulations have renewed interest from traditional institutions.State Farm arranged its blockchain project public last year, but USAA wasn’t part of the announcement. Now the partnership is general information.In preference to of issuing billions of dollars to each other via checks, the new blockchain system will make regular settlements between them. The new economic system will save time and fees for both companies, as well as time. A State Farm representative recounted Coindesk that many other insurance companies could join the party.In a few short months, major coteries like Whole Foods have announced the integration of cryptocurrency.Huge! Amazon-Owned Whole Foods Buoys Crypto by Recognizing Bitcoin https://t.co/DivgUdoTHo— CCN.com (@CCNMarkets) May 13, 2019Meanwhile, the price of Bitcoin has continued to stampede back toward $10,000. Federal Farm and USAA are probably not the last significant corporations we’ll hear from this year. The companies are using a blockchain technology called Quorum.In moronic terms, the applications of blockchain for a typical conglomerate are numerous, and some of them are unpredictable. An insurance company can use the blockchain to prohibit track of every aspect of a vehicle and to make seamless payments to customers and other companies. Companies can have a sheer accountability process in place as a result of the basic design of most blockchains.How Many Ways Can Blockchain Disrupt Each Business?Alternatively, permissioned sidechains have emerged, where corporate users can choose to have less information be publicly nearby while still enjoying the other benefits of the blockchain.Some may argue that the blockchain will never keep a purpose beyond the simple ledger of money, but when significant companies create demand for the blockchain, its limitless possibility starts to be exposed.It’s unknown at this time exactly how many industries will ultimately have some create of blockchain disruption driving them over the coming decades. At a minimum, specific government processes such as signify ones opinion can be made more transparent.In a peak blockchain world, we might even expect governments to get on board with their own fiat-backed tokens. There’s no apology to think such tokens wouldn’t perform equally as well if first-world central banks issued them in preference to of rebel outfits like Venezuela and Iran.