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Cryptocurrency created quite the buzz this past year. Although the technology has been around for a few years, 2017 was the year it really took off. Bitcoin, the first application of cryptocurrency technology, hit $20,000 a coin, while coins like Ethereum also saw their prices increase. However, the technology behind these tokens, blockchain, has far more applications than just cryptocurrencies.
Through a network of smart contracts that operate utilizing decentralized information on a ledger, blockchain is able to provide unmatched security and speed for data transfers. This means that blockchain technology has an application in nearly every industry where value is exchanged.
For this reason, many startups have started to explore how this technology can change the way the world works. Here are twelve of those startups, each of which are utilizing blockchain technology in new ways.
Fr8‘s blockchain network facilitates the digitization of record-keeping related to the trade of assets, even in scenarios where intermediaries and brokers are incentivized to resist change. Last year, trucks drove 29 billion empty miles in the U.S. alone. By applying blockchain, Fr8 helps to streamline and organize the industry in a trustworthy manner.
The internet of Services (IOST) is a new cryptocurrency that is attempting to solve scalability problems. A technological descendant of Ethereum, IOST is a blockchain with the purpose of serving as infrastructure for developers to create decentralized applications. Building on top of a blockchain allows businesses to cut out intermediaries, and also gives them peace of mind in terms of data safety, as blockchain networks are notoriously secure.
ImpactPPA is creating the SmartPPA (PPA stands for power purchase agreement), a platform that connects the blockchain community with environmentally concerned and socially impactful projects that fuel the development of sustainable solutions. The platform is designed to manage renewable energy resources from generation to distribution to payment. Its aim is solving the globe’s most pressing environmental and humanitarian issues.
ShipChain is a freight and logistics platform built on blockchain. The platform focuses on an end-to-end track and trace, which allows for unification across the entire supply chain, among all carriers. ShipChain is member of…