The term “cryptocurrency” has led many to believe that this technology has nothing to do with anything else other than banks and stock exchanges. However, the recent trend set by many industries has been an eye-opener to this big faction of believers. Even before this, mavens like Warren Buffet denied to accept bitcoin as a cryptocurrency. Another perspective was proposed by the Indian government when it suggested renaming cryptocurrency as “crypto assets”.
Cryptocurrency is a small part of blockchain technology which sires it. This technology goes way ahead of being a currency and becomes a phenomenon that need to be thoroughly understood to leverage its benefits.
The flexibility and adaptability of this technology is not limited to just one domain. From a manufacturing plant to a high-end security system, this technology has proved its usability everywhere. The best thing about blockchain is, even when it is modified according to the needs of different industries, its core function remains intact. That’s why, the significance has been realized by most of the industries and they have even begun implementing it.However, we have enumerated a few industries which would get a complete upgrade with blockchain and transform radically.
Finance
If you are to reckon the magnitude of blockchain on different industries and name the one which is most profoundly influenced by this technology, then it is finance. Given the existing centralized framework of banks and other financial institutions, it would be a gut wrenching change for the whole industry. However, after the efficiency of blockchains dawned upon the governments and few banks as well. It is very like that in next few years, banks and financial institutions would run their operations on blockchain.
For centuries, banks have been run in centralized manner begetting unfair interest rates and irrational norms. The necessity of banks is so much is our economy that we totally depend on it for placing a single transaction. This results into monopoly leading many other practices that laymen are unwillingly forced into.
In this particular domain, cryptocurrency and blockchain together constitute an environment which lets an individual have the full ownership of his/her money. With the help of this technology, noone depends on bank for transferring their money to another person or party. They do not even have to through numerous payment gateways that prevail in fiat transaction. Decentralized distributed ledgers execute the transactions without any supervening centralized body. Superseding the rigid stand previously held for cryptocurrency, banks have also realized that it can save up to $20 billion by removing intermediaries.
The breakthrough of bitcoin intimated all the banks and compelled them to look into the technology deeper than just censuring it. Bitcoin may not comply with the norms of banks, but Ripple definitely does. Due to its flexible design, many banks considered it as a potent replacement to fiat. Materializing this claim, Saudi Arabia’s central bank have proposed to integrate Ripple into their systems.
Besides Ripple, another cryptocurrency that became noticeable for banks is OmiseGo. This cryptocurrency is an Ethereum-based platform that serves a broader purpose, which is to provide independence of financial and payment services. This ingenious crypto is designed go handy when it come to switching to crypto from fiat or vice-versa. It is aimed at achieving congruence among different versions of currencies and their payments.
Publishing
It may sound irrelevant, but it is not. Blockchain can ameliorate the way publishing houses work and can immensely benefit the writers who strive hard to outshine.
Currently, a plethora of publishing houses control the industry making it hard for emerging writers to earn recognition. The publishing houses find it hard to publish a work by a new writer. With the advent of internet, digital publishing is in vogue, however, it has not helped the writers gain the recognition or remuneration they need.
Authorship is a blockchain-based platform which applies crypto tokens for publishing new work of writers. Through this platform, publishers can choose the work and digitally publish it using the tokens. Through blockchain, the tokens are directly transferred to writers. This platform also lets the writers publish their work without any assistance of publishers. Besides writers, translators will also receive their fair share if they choose to translate a work using this platform. It is a groundbreaking innovation for writers who often lost their wages to the publishing houses.
It clearly manifests the broad reach of blockchain given the relevance of technology to this particular domain. Therefore, we can say that blockchain can bring positive changes in every industry no matter how less technical it seems.
Real Estate/ Rental Services
Rental service is something we all go through. It is a phase which all the young professionals go through as we all have to migrate at some point of time in a bid to opt a better career or growth. Finding a house in a city you’re not familiar with is probably the hardest task you need to go through. Making it even tougher, are the norms and regulations including security deposits, interaction with landlords etc. A big chunk of your money is then fed to middlemen who find you home with all the hassles you can think of.
Rentberry, a blockchain-based renting application has provided the solution which eliminates third-party involvement and let the tenant meet the landlord directly. By implementing smart contracts into its platform, Rentberry has made renting and leaving a house conflict-free.
It has also made the process of renting a house seamless. Tenants can directly pay the owners through the app which makes the payments safer than any other payment method. It removes the burden of unfair commissions that are borne by tenants. This platform is another brilliant example of how blockchain can change things at grassroots.
There are other services as well which have implemented smart contracts making the rental services as transparent as possible. Atlant is another blockchain-based application makes sure once the agreements are signed, none of the parties can back out. Atlant is focused more on property purchasing, its platform lets the sellers list their property on the blockchain. The properties are then verified and value of the property gets tokenized. It has even introduced a decentralized exchange on which the buyers can view the property and buy through Property Token Offering.
Another blockchain-based service that is making buzz is Beetoken. This platform is aimed at establishing a P2P network by implementing KYC and blockchain. It enhances the user security through more regulated usage of their information. It also prevents the practice of creating fake reviews either for defaming or extolling the service providers.
Healthcare
Needless to say, healthcare has a major role to play in any nation’s development and economy. Healthcare services contribute one-fifth of the national economy amounting to whopping $3.8 trillion in United States. However, obsolete practices are still prevalent in healthcare industry including data management, claims and reimbursement.
Managing patients’ data is innately crucial for medical industry. Blockchain helps achieve the vision of secure storage and data access. It prevents the inordinate disposal of patients’ information exposing them to service providers who approach them without their authority. Many insurance companies, pharmaceuticals and research institutes get their hands on data of patients without their permission.
To counteract this issue, ICON (ICX) is developing an ecosystem which is aimed at saving patients’ information on blockchain alongwith the enablement of smart contracts. Induction of blockchain in the healthcare industry indicates great changes. It means that the patients will have full rights over their information which will be safeguarded in a secured environment.
Patientory, a blockchain-based platform which introduced itself through ICO, successfully raised over $7 million in 3 days. This app secures the data of patients by creating a channel for them to manage and store data. This platform provides services not only to patients but also to providers and healthcare organizations. Patients will be able to access their information easily and send it to the providers, who will not have access to the history of patient. They can only view the notes and prescriptions to provide the medicines.
Another platform of the same ilk, Dokchain focuses on providing cheaper and faster data processing services to the patients. This platform encompasses a larger band of services including insurance companies as well.
Apart from Patientory and Dokchain, Gem and Tierion are two more blockchain-based projects working in the healthcare space.
Music
Just like publishing, music industry has also been infamous for not doing justice to artists in terms of recognition and payments. A plenty of musicians express their dissonance towards streaming services, alongwith piracy which already takes a toll on their pockets. However, streaming services are the absolute future which no can artist can deny. One only needs to find out a way through which artists can get their due credit and royalty through streaming services.
As of now, the lion’s share of the earnings from an album goes to recording companies. That’s why some musicians have turned to blockchain to sell their music directly to the listeners. Some prominent artists and bands such as Thom Yorke, Nine Inch Nails and Bjork have released their albums on P2P network. This move has been supported and followed by many other musicians who have begun accepting cryptocurrencies in their online store.
This technology has paved a way for the fans to connect directly with the artists directly without any interference from a recording company.
Mycelia and Ujo Music are the two startups focused on making music available to listeners through blockchain.
These projects are highly beneficial for the artists. The founder of Mycelia, Imogen Heap, says that blockchain can immensely help in licensing the copyrighted music by providing a platform that mutually benefits artists and listeners both. The most highlighted feature of Mycelia is its “creative passport” which shows a snippet of the artist including their work and tour dates. Depicting an appearance to social media, this app will soon become a necessity for the artists, she says.
Ujio Music has also got its share of credit for providing rights to the artists. Having received support from Imogen Heap, this app has a similar “creator’s portal”, which will enable artists to publish, license and get compensated through an Ethereum-based platform. It also enhances the visibility of artists in the music sphere through its community. Another platform, Voise, focuses on streaming music via establishing payment methods on blockchain.
Supply Chain Management
The supply chain business is a confluence of many challenges including transport, book-keeping and, a constant push to keep the price down with ample of duties and taxes. This burgeoning industry which is currently valued in billions of dollars worldwide is continuing to expand itself as the demand and globalization calls for it.
However, the challenges faced by this industry are massive. With rising prices of fuel, transportation is getting dearer day by day. The process of supply chain also entails a significant wastage of resources like water and electricity. It also occupies a lot of space and disposes a lot of harmful waste. The working of supply chain also poses a threat to the natural resources.
To solve this menacing issue, smart contracts are now being deployed. The idea is to control the unnecessary expenditure by controlling the operations and allocating the resources efficiently.
Smart contract would make the whole process streamlined with fixed orders. It would delineate the demand and supply by managing the manufacturing units. The manufacturing will be done only when the demand has to be met and this will save the unnecessary transportation costs and resources.
VeChain and ShipChain are two blockchain-based projects introduced to revolutionize supply chain industry.
VeChain is focused on establishing an ecosystem which expands itself with an autonomous approach. This innovative project uses NFC chips to prevent theft and fraud. The NFC chips have been peculiarly popular in liquor and tobacco markets. VeChain has taken its project to next level by collaborating with China’s National Research Consulting Center (NRCC). They also have plans to expand in automobiles, agriculture, food/drugs, retail and logistics.
ShipChain is another project with similar goals and provides a solution with “track and trace” which implements end to end framework. This project lets small-scale shipping and logistics provider to carry out their operations independently. This platform also doles out incentives to the operators who execute their deliveries on time.
Government
There is no need to mention the acute need of governments to adapt this technology. From voting to inter-governmental procedures, blockchains are required for every task that involves government. With the rise of blockchain, the time has come to put an end to the clandestine practices of government officials. The positive fact about it is, the governments themselves are enforcing it, because they have realized that this technology improves their working in every possible manner.
Democracy Earth is a peer-to-peer enabled platform for organizations which focuses on fair voting practices. This platform implements the ecosystem of bitcoin and smart contracts which only empowers the voters to access the information. The incumbent party will be held more responsible in case the transparency of blockchain ledgers are meddled with.
Horizon State takes it a level ahead and makes it useful for actual voting done for choosing governments. It enables recognition of voters at an expense of minute costs as compared to traditional voting systems. Based on Ethereum, this platform also uses ‘gas’ for voting which is collected and used for funding of campaigns.
Boule is another such platform which focuses on making voting transparent just like Democracy Earth and Horizon State.
Internet of Things
Internet of things is clearly the next big thing and is evolving alongside blockchain and artificial intelligence. After connecting the whole world through internet, it is now the time to connect things together and make things easy for us. What sounds like science fiction is actually getting materialized and blockchain has a pivotal role to play in it.
Normally, such a system involves higher level of complexity, proneness to malfunctions and multiple failures of equipments. Thanks to blockchain, this mechanism gets simplified and better at every phase.
Centralized mechanism can actually choke the efficiency of this technology. Blockchains have proved to be complementary and invigorating to IOTs. Waltonchian and IOTA are projects which have tokenized mechanisms among different gadgets. Both of these projects are using Directed Acyclic Graphs, which is new method demarcating the transactions. This method actually takes blockchain a step ahead and regulates it better.
Amalgamating the two most groundbreaking technologies, blockchain and IOT has been done by the RFID method. This particular innovation lets the machines keep their transactions sealed with smart contracts and keeps track of every command given by the user. This technology would also be deployed in many other areas such as manufacturing, logistics, infrastructure and retail.
IOTA is working on a more feasible way through which the machines could interact with each other. It actually simplifies the process of connecting different machines with each other by acting as a licensor to them. It becomes an intermediary which becomes a bridge between appliances and brings them on the same page. With increasing dependency on machines, such applications will prove very effective in making them run flawlessly.
Another project making a buzz in IOT sphere is Hurify which aims at accelerating the growth of the industry. The project is focused more on getting jobs to IOT developers and helps them to hone their skills. Through this project, emerging developers will get exposure, it would also help the companies find alternatives to their existing developers at cheaper price.
Reportedly, Samsung and IBM have launched an initiative named ADEPT to make the IOT better.
Cloud Computing/Distributed Computing
Cloud computing has become a necessity for small and big organizations just like electricity and internet. There are many industries that require cloud computing at a very robust level. Thinktanks, entertainment companies and many other industries require heavy computation. But the problem is the scarcity of resources which makes cloud space available only for big organizations that can afford powerful systems and servers.
Blockchain terminates this monopoly by distributing the cloud into smaller units. It also makes it possible for the ordinary computers and servers to handle the cloud and perform equally intensive tasks. Golem Network has introduced its blockchain-base cloud computing from which people can rent out computing resources like bandwidth and processing power. It would also be able to help people to perform CGI and scientific calculations.
SONM or Supercomputer Organized by Network Mining also serves the same purpose using the same means. It would distribute the computing space and resources enabling the users perform general computing. SONM also incorporates video rendering and DNA analysis through the use cases.
Elastic is yet another project working on cloud computing and making it more accessible. This project provides an open-source P2P platform that uses a language created solely for this project, ElasticPL. The big difference between Elastic and other projects is, this one serves as a model which could work with programming languages.
The idea is to use the cloud computing in such a way that it is beneficial to most of the people. To involve use cases and utilize them to get the potential of the process to its most, making it seamlessly accessible for everyone.
Insurance
One of the most widely used service which involves hefty paperwork. Still there is a lot that needs to be done in terms of making the whole process safer and faster.
InsureX (IXT) is a blockchain-based insurance marketplace which works for the benefit of the insurers. The existing framework of insurance companies involves a load of intermediaries making the process of claims slow. This peer-to-peer enabled structure makes the claims reach the companies directly and the insurers receive their amount directly from the company without any inexplicable deduction.
Etherisc is another such platform that introduces decentralization into insurance making the whole process fluid. They have already deployed few DApps that work to expedite the claims of crop insurance, social insurance and flight delay. Crop insurance focuses on securing the farmers against drought or flood while social insurance is tantamount to life insurance and flight delay DApp helps passengers get claims in case of autonomous delays. It will also host a marketplace for related services of insurance and capitalization of risks. Etherisc is doing the same job in insurance that other projects are trying to accomplish in different other domains.
SafeShare is a project that focuses on the integration of machine learning with smart contracts. It has collaborated with Vrumi, a similar project in this space to safeguard property owners against damage and theft to their property caused by tenants registered on Vrumi. SafeShare also deploys MetroGnoma, which is an open-source timestamping service and its helps in validating claims real time.
Charity
Charity organizations are often alleged to use funds for themselves which they are supposed to use for the cause they support. In a few cases, they have even been found practicing it for real and have been nabbed on corruption charges.
Blockchain brings decentralization into the NGOs’ work culture and makes their transactions visible with smart contracts. It brings under the liability of the donors who pay them with the intentions and do not want their money to be misused.
There are already many blockchain projects active this particular sphere. Alice is project introduced to help the penniless groups that try to work for a social cause. Giveth is an Ethereum-based and open-source platform similar to Alice which includes a feature called LiquidPledging. Unlike the other platforms, it uses a delegate for payments. Aidcoin is another platform which works in quite a similar way to charities instant and transparent.
Blockchain-as-a-service
Based on software-as-a-service, this feature has been introduced which lets a subscriber use blockchain with full functionality and power. This makes accessing the blockchain easier without going through the pain of developing and deploying it.
Stratis offers blockchain for software development, making it easier to access and manage. It also incorporates learning in its platform by making an academy about development. It is basically a blockchain-as-a-service which provides access to this technology for the users.
The platform uses the C# language to code the applications. Stratis team chose this language as it is quite popular among developers and widely used in business applications. The notable attribute of this platform is its ability to give organizations a transparent and reliable means of creating a blockchain. It helps them build a blockchain without incurring high development costs.
Ardor is a similar project in this sphere. It offers child chains by utilizing the NXT technology in its platform. This project allows the companies to create customized blockchains based on parent-child architecture making the whole process secure and cost-effective. It enables users to remove the transaction from child chain and keeps it secure to the core.
The child chains are capable of running on Ardor’s tokens or the chain owner’s token. The child chain comes with a melange of features and simplifies the use of blockchain, as opposed building a full-fledged blockchain which intricates the process.
Messaging
In a bid to outshine among a slew of messaging apps, many are trying to provide a safer and more reliable platform. Encrypted messaging platforms have already appeared in this space, the most popular being Telegram. This platform has been extensively used for the promotion of ICOs and now there are more such communication channels going to be introduced such as Slack, Kik.
There are actually many more names getting surfaced. Some of them are Crypviser and Mercury Protocol which are built on Ethereum. These platforms have not yet registered their appearance outside the crypto community yet. However, the safety that they provide can catapult them into larger user-base in future.
The use of blockchain is not yet prevalent in this industry, however a few project indicate that it could soon become a priority for messaging apps.
Digital Identity Management
Digital storage is now in vogue and becoming a more preferred medium for storage of data. It has been proven as a faster medium and has lesser impact on environment. However, a number of cyber attacks have questioned the security on the existing framework of digital storage services.
Blockchain’s encrypted ledger gives solution to this issue as well. SelfKey, an open-source, blockchain-based identity management service, allows both the users and companies to manage the platform together. This platform will connect users to the requestors of their data such as utility providers, banks and passport services. It would also use its proprietary KEY token for the provision of services and validation of data.
There are other service providers as well such as Civic and TheKey.
Civic enables multi-factor authentication through its blockchain platform using biometrics. It stores the identity on your phone and can be used to access a various services upon the request by particular individual. Civic also includes some other partners which are TokenMarket, Jaxx, Lykke, BitGo and WikiHow.
TheKey also functions in more or less the same way, it is also equipped with a multi-dimensional authentication tool that stores personal data on a blockchain making it accessible through different services.
Digital Advertising
Digital advertising is one of massively growing industries today and it is getting bigger every passing day. It is now the most popular method of advertising as people spend more time on phones and laptops than newspaper or television.
For a digital marketer, finding target audience and reaching them is the biggest challenge which also takes money and resources. The centralized mechanism again plays a bad actor and curtails the capacity of advertisers to reach their audience. Normally, the users are approached with the most irrelevant advertisement causing dissonance among the users and proving futile for advertisers.
Basic Attention Token has been introduced to straighten the digital advertising for content creators and users. It has rolled out its own BAT token which will provides content to the users on subscription basis. This makes the users get the desired content they want and lets the creators earn duly for their work.
Credit
Cryptocurrency and blockchain have already created a lot of buzz in the markets. Through the markets, it is being cascaded to credit and debit cards as well.
Blockmason is a platform focusing on credit and debit platform. It introduces blockchain into the most widely used banking service which is estimated to be around 5$ trillion in value globally. The plan is to use an Ethereum-based blockchain to create a credit and debit ledger enabled with smart contracts.
WeTrust is an emerging platform featuring the facility of pooling the money from friends and families together. It is a process called ROSCA which is followed by banks, according to which individuals pool their money and banks keep a sizable amount of interest. WeTrust builds a blockchain-based network which excludes any third party involvement. It aims at making the group self-dependent by vesting the authority to secure the money through smart contracts and decentralized ledgers. They have also integrated a reputation system to ensure no back outs.
PayPie is another project with the same objective to ingrain risk assessment algorithms into business accounting. This secures the payments by checking the score and record of SMEs before doling out credit to them.
Trading/Forecasting
Trading in stock markets is still enigmatic to many. It is indeed not very easy to become stock trader, moreover, the payments for stocks, commodities, securities and shares become rather very complex due to the infestation of intermediaries. tZERO has been introduced to integrate blockchain into stock trading straightening and simplifying the payments.
Augur takes it more sophisticated level of trading by making itself a tool for predicting the market possibilities. On this platform, users will be able to ask about the future events and trends of the market. It would help them plan their investment and control the outcome of investment to an extent.
Stox is another open-source Ethereum-based platform which helps stock brokers predict the market. It is a marketplace where predictions can be made and stakes can be decided on their basis. This is also the unique selling point of this project.
Gnosis is a similar project and it has launched its own token “Olympia” to help traders gain more benefits.
Energy
The energy industry is also largely regulated by the middlemen which makes it hard to reach for many under-privileged people. The idea of implementing blockchain has been planted into the entrepreneurs’ minds since the very beginning of this technology and there have been a number of projects introduced in this space.
LO3 Energy is an innovative project which has also established the Brooklyn Microgrid. It focuses on making energy easily accessible and cheaper by using decentralized distributed ledger.
Power Ledger is another blockchain-based project which lets the users conserve energy on their solar panels and trade them. It would provide them payment on real time without any involvement of third party. Power Ledger is one of its kind project and has been a commercial success.
Grid+ also involves artificial intelligence in its platform and analyzes the usage levels alongwith patterns. Based on stats provided by the app, it decides the price of energy. It also includes a hardware unit which helps in storing energy in photovoltaics.
Job Search
Job search portals acquire your information very easily and there is no way of protecting you data to be misused yet. While its necessary for you to provide them the vital information, it has some become important to induct a process which makes you the owner of your CV. Job options are getting flexible day by day and the process of filtering resumes on the basis of qualification must also be updated with blockchain technology.
Blocklancer is a freelance job portal which uses blockchain to secure your information. It allows the clients and freelancers to interact and enforces smart contracts to render the contracts irrevocable. Considering the rising popularity of freelancing and opportunities begetting by these portals, this is a major start to ensure that freelancers get remunerated for their work. This portal ensures instant payments with security and assured work to clients as well.
Fishing
Fishing is one of the most widespread and unregulated industries in the world with over 500 million people depending it on globally. Even with such a magnitude, there was never any effort made to straighten this industry. It is also facing criticism from environmentalists who advocate maintaining the sustenance of ecology. Blockchain has come up with some solutions that can provide solutions to both fishermen and environmentalists.
Considering the grave threats caused by overfishing, it is essential to put some limits to fishing. Reportedly, 30% of the world’s fisheries have exceeded the safe fishing levels which may cause extinction of species and permanent damage to ecosystem. At the same time, there are millions of lives that depend on this occupation.
To stop this menacing threat on ecosystem, regulations have been made to prevent fishing in the international waters. However, mocking every regulation, illegal fishing is flourishing to the tune of $23 billion. It is also supported by the slave labors who get heftily paid undertaking illegal fishing voyages.
Blockchain provides two major solutions to this industry. First, it regulates the earning of fishers in a way that it reaches to them directly and second, it emphasizes on adherence of the guidelines taken to save the environment from overfishing.
ConsenSys and SeaQuest Fiji has come forward and partnered with WWF for the implementation of blockchain. It has introduced a unique method using which it can be determined whether a fish being sold in the market is procured through illegal fishing.
A UK based company called Provenance conducted a 6-month pilot program to test the efficacy of blockchain for this purpose. They have devised a technique using blockchain that tags fishes to testify social sustainability claims. This technology would prove very useful in countries like Indonesia where 30% of the world’s illegal fishing occurs. The objective of the project is to incentivize fishermen duly without any unfair means.
Initiatives have also been taken into the seafood industry. A company called Stratis has partnered with Earth Twine to implement blockchain to prevent illegal fishing. It plans to integrate a blockchain ledger in compliance with NOAA standards, designed to prevent the import of illegally traded fishes.
Hedge Funds
Globally, hedge funds amount to $3 trillion approximately. Because of the wide variety of market, they involve a high degree of risks as well as rewards. Due to high propensity towards risks, very few investors come forward to pool in their money. Transaction fee is usually very high and investors vary from each other causing a rift sometimes. Transparency is zero and liquidity is minimal. Though it is considered lucrative, it is highly unregulated and mercurial in nature.
The volatility of cryptocurrency market gives a great path to hedge funds to thrive.
The basic managerial issues which make hedge funds messy can be easily solved with blockchain. The decentralized ledger has been proved to extricate the trades with secured and distributed information. Alpha protocol is a hedge fund based on blockchain which has even introduced a voting system to strengthen the decision making process.
Numerai is another project working in the same sphere which introduces AI alongwith a framework to incentivize the members. This project lays emphasis on machine learning data analytics through the distribution of ledgers with timestamps and smart contracts. The members could also access stock market data on this platform and create high return strategies.
Quantopian is another project which works on incentivizing users to write investment algorithms which will be functional on licensing models. The incentives will be distributed on the basis of their performance. They have even introduced host competitions to reward the authors of the best algorithms.
Ride Sharing
It’s hard to understand how a cabbie earns through your shared ride. You must have seen atleast one cab driver who’s striving for completing numerous rides to get the wage. That’s because the centralized system of cab providers get the lion’s share from your ride and a little goes to the pocket of cabbies.
Arcade city has taken the onus to change that with its platform that integrates blockchain and simplifies the payment for cab drivers. This project has introduced a cab service which doesn’t deduct anything from the drivers’ earning. All that they make through the fare of ride will go to their pocket without any middlemen.
It works on the idea of community in which drivers can form their guilds and operate in sync. This allows them to cover larger area and keeps the track of regular customers. This platform is getting hugely popular because it gives liberty to the drivers to take home the maximum wages. Also, it helps them build a trust among their customers with fair pricing and satisfaction.
Chasyr is also trying to achieve the same thing, it’s a California-based startup which aims at getting maximum earnings to the drivers.
Cryptocurrency Exchanges
Surprisingly enough, the industry which sold the idea of decentralization depends on centralized mechanisms for its exchanges. There have a number of instances of cryptocurrency theft which has brought the exchange owners into light. Even if they deal in decentralized product, the crypto exchanges are still working on centralized platforms making a fool of users and flouting the very idea of blockchain.
DEX is a cryptocurrency exchange platform which implements blockchain for real and gives its users a true experience of blockchain. It excludes any third-party involvement in the platform keeps everything out of their control on blockchain.
Enigma is another project which is developed by MIT graduates and researchers, focuses on bringing privacy in its framework using blockchain. Another investment platform, Catalyst, is a data-driven cryptofund. It too focuses on implementing smart contracts and making deals safer in every prospect.
Human Resources/Recruitment
The process of recruiting employees involves a lot of verification and storing data for future reference. Blockchain makes this process easy and less industrious with decentralized distributed ledger. It also makes the hiring process more efficient by saving the data securely over a shared network, making it easier for concerned people to reach anytime.
ChronoBank is introducing blockchain in the hiring/recruitment domain. It has created a portal which can be availed by the recruiters, they can access this service as software-as-a-service and will also get paid in tokens. The platform would qualify the members for tokens on the basis on their real-time labor.
It surely has an analogy to the projects introduced as job portals but, ChronoBank aims to streamline the general recruitment industry.
Upshot
Blockchain technology has made its way into every industry you can think of. It is slowly paving a way for decentralized to seep into our economy. The world we are seeing today is infested with centralized systems and processes which have curtailed the overall growth only favoring a few people through unfair means. Blockchain makes the ground even for everyone by distributing the information across the network.
Technoloader is a Blockchain Development Company which provides customized blockchains for every industry. We have been providing services to all sorts of industries across the globe at a very reasonable price. We are a team of blockchain enthusiasts who believe that this technology can change the face of the earth. We are passionate towards this technology and want to spread it in the most efficient manner.
