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Over the past few years and months, we’ve been hearing a lot of buzz around blockchain. A lot of people are excited about the idea of decentralization and circumventing the traditional middlemen. But while these are the general assumptions about blockchain, only very few people really know what this new technology is all about.
Cryptocurrency (such as Bitcoin and Ethereum) and Initial Coin Offering (ICO) are among the most hyped use cases of blockchain. But beyond these much talked about blockchain applications, there are a lot of very promising blockchain solutions for enterprises that we can look forward to. Major tech leaders and startups alike are striving and working hard to develop blockchain solutions that will address real-world problems. Investments are pouring in for blockchain research and development. And as tech experts come together to explore the potentials of blockchain, we can expect them to deliver useful blockchain solutions sooner.
Although the technology is still in its infancy, many startups are already running prototypes to prove that blockchain is indeed revolutionary. Here let’s take a look at some examples of blockchain solutions developed by startups.
Singaporean startup, Change, is developing a blockchain-based solution that aims to streamline online transactions. Once deployed, Change would be providing a one-stop “digital wallet” that can accommodate large transactions and support different digital currencies. The startup also aims to enable payment of services and goods using traditional currency.
DhealtNetwork is a pioneering startup that used blockchain to develop a decentralized storage system for health records. This secured and shareable health database helps ensure better communication between doctors and patients thereby improving medical treatment.
3. Power Ledger
Power Ledger is an Australian-based blockchain startup that provides commercial and private users a peer-to-peer network where they can buy and sell excess energy without intermediaries and in real-time. It runs under the company’s POWR cryptocurrency.
FarmaTrust is a UK-based startup that uses blockchain in monitoring its international supply chain. It aims to put a halt on the prevalent dissemination of fake medicines marketed online. With the use of blockchain technology, private and commercial users can efficiently monitor their stocks as well as facilitate quality assurance practices.
ImpactPPA aims to develop a platform (SmartPPA or Smart Power Purchase Agreement) that will connect the blockchain community with social impact and environmental projects that pave the way to the crafting of sustainable solutions. This blockchain-based solution will help facilitate renewable energy resources starting from its origin to its user through payment. Ultimately, it hopes to solve critical humanitarian and environmental concerns.
Supply chain management is among the most popular applications of blockchain – and that’s what ShipChain would like to develop. ShipChain is a blockchain-based logistics and cargo platform. It provides operators with an end-to-end monitoring of shipment thereby ensuring efficient management of the entire supply chain.
7. Nano Vision
Nano Vision has a very creditable goal of empowering the people against public health threats through promotion of research and development. It uses blockchain to develop a decentralized platform that will contain useful and updated data on various public health threats. This database can be accessed by scientists, researchers, medical professionals or simply anyone who wants to help. Through this initiative, Nano Vision hopes that it will gather new insights and drive new steps in the research process, thereby speeding up innovation in healthcare.
A pioneering platform, ODEM is a decentralized educational system on demand that provides a platform where teachers and students can interact directly and participate in the exchange of learning and education. It uses smart contracts and practically removes the need for third-parties. With ODEM, more students worldwide will have access to quality education at a lower cost.
MEvU is a blockchain-based solution that enables players to bet on almost anything, against anyone, any time. It is underpinned by Ethereum which stores the bettors’ data and funds their games. It aims to minimize the black market while providing full transparency in online betting games.
BuzzShow is a platform that rewards online video users through proof of contributions. It creates a decentralized social video network that will reward users for publishing, sharing, and watching videos. Users of BuzzShow are still guaranteed their full privacy and control of their video within the social media channel.