Blockchain has become an essential component on account of its usefulness as Bitcoin and other digital cryptocurrencies. It has several potential uses. From the stock market onwards to the bank, Blockchain may be the future of various financial technologies. Blockchain has indeed several very interesting applications that are made use of by several companies.
Here are some of the most interesting uses of Blockchain in development today:
BitPesa
Africa is no doubt least advanced as far as far as financial development is concerned. Much of trade is done in cash.The BitPesa is indeed aiming to resolve Africa’s liquidity and also money transfer fragmentation. The Blockchain based app does allow users to do business across Africa with adequate built-in foreign exchange as well as business to business payment features. The company has no doubt its biggest operations in Kenya, Nigeria, Tanzania, and Uganda, but this startup app does support payments to over 85 countries including that of the United States and China. Expect a lot more from this startup in the years to come.
Storj
Most of the Blockchain technologies are rather focused on cash and cash equivalents, but Storj has, of course, a completely different focus: cloud storage. Most online storage does require one’s data to exist in a central server, which also sends out one’s web assets on demand when visitors do click a link to one’s page. With the help of a CDN, the copies of one’s data sits in servers all across the world, and the closest copy is sent when someone clicks. Storj is working towards taking that to the next level indeed.
Making use of Blockchain and heavy encryption, Storj also allows the users to store digital objects in the cloud. With great security, uptime, and faster delivery possibilities, Storj is indeed doing substantial work that will quietly speed up as well as improve the web.
Riot Blockchain
Earlier a biotech company referred to as Bioptix, which is a company that is rebranded and is now listed on the NASDAQ exchange under the ticker symbol RIOT, thus making it the first purely Blockchain focused public US stock.
Although specific Blockchain development is not on, the company does invest in the Blockchain ecosystem with a focus on Bitcoin as well as Ethereum.
When a user’s machine does also reach a milestone or rather solves a problem, they get a rather small payment in Bitcoin or another currency. This system consists of well-connected data centers and also individual PCs around the world in a rather massive network of mining operations to generate digital currency.
Golem also takes the power of mining and also offers it to the users who indeed need massive computing power. One has to rent a single PC or even a larger data center through the given Golem network to be able to create one’s own on-demand supercomputer. Machine learning, graphics rendering, big data analysis, cryptography, weather, and science computations do often require enormous computing power. With Golem, any sort of business can get that in a rather few clicks.
OpenBazaar
One of the biggest problems with cryptocurrencies is that you do not have many options to spend them. Outside of a limited ATM infrastructure and an occasional business that does accept Bitcoin payments, digital currencies are often stuck in the arena of the cloud.
OpenBazaar is considered to be one of the first marketplaces that accept cryptocurrency for transactions. One must assume it similar to a hybrid of eBay and Etsy that does run on cryptocurrency and also charges no fees. They even offer options to rent the apartments similar to Airbnb, paid with one’s favorite digital currency of course.
Chronicled
In corporate America, the contracts and legal documents do fly back and forth from one computer to another computer thus getting edited, marked, and updated by each of the users along the way. This indeed makes the version control and identity rather difficult, but chronicled has a Blockchain based solution.
The startup does make use of automation as well as digital signatures in order to create a unique digital identity for physical items as well as digital documents alike. The coolest features do allow for better supply chain control as well as management and anti-fraud opportunities to protect brand integrity around the world.
