Hearing the latest finance news nowadays, you might have frequently come across the term “blockchain”. Blockchain is a technology that could revolutionize the way we make transactions online. Blockchain is an extremely useful technology that requires no central authority for keeping track of all the stages of transaction from start to finish.
Every time a specific transaction passes hand, changes in some way or moves onto the next stage, a block of data is created. This “block” is then added onto the end of the “chain” of data that holds the digital history of a given transaction. Many new innovative and creative startups are making use of this blockchain technology to transform the everyday world in some way or the other. Following are a few startups that may be worth your attention in 2018.
An Estonian startup, Agrello is completely transforming the concept of smart contracts by joining legal documentation with artificial intelligence. The team of Agrello consists of experienced lawyers, programmers and engineering experts who have crafted a drag-and-drop interface to allow anybody to create self-executing, legally binding, intelligent smart contracts with the help of Ethereum network. This platform is useful for people who lack programming and legal knowledge. The Ethereum network used by Agrello makes use of decentralized blockchain.
SmartLedger company is introducing the power of blockchain technology and smart contracts to many people. Use cases including gold-based cryptocurrency trading platform, fund management system and mining pools for cryptocurrencies have been racked up by this startup. SmartLedger, like various other companies has set its eye on the insurance industry. The company has formed a consortium in order to foster collaboration and innovation among insurance parties in the field of blockchain technologies.
Ubiquicoin is a new ecosystem for everyone that acts as a decentralized global digital currency system irrespective of location, income or nationality.It is backed by financial guarantee and has a two coin system immune to volatility. It is connected to several blockchains for coin management and for services and goods management. The main purpose of the ecosystem is for revenue sharing with coin investors, while providing access, agency and transparency to unbanked consumers worldwide.
Exsulcoin is a startup company making use of blockchain technology in order to help solve the global refugee crisis. Their platform drives refugee-led projects by allowing holders of the Exsulcoin cryptocurrency to nominate, vote for and fund projects. Exsulcoin also ties user reputation to identity for ensuring trustworthy interactions and transactions. By doing so, Exsulcoin hopes to open a plethora of opportunities, education and solutions for refugees around the world.
The importance of keeping medical records secure, accurate and accessible for healthcare providers cannot be denied. SimplyVital Health startup is going a step beyond just preserving and providing medical records. They are developing the first ever revenue-generating HIPAA compliant blockchain for the healthcare industry. Their two main products, namely, ConnectingCare and Health Nexus are making use of blockchain technologies for enabling healthcare facilities and creating a secure way for healthcare providers to share patient data.
Shopin is a winner of the 2017 CoinAgenda Global blockchain startup competition, and is making an effort to bring together online retailers in order to form a “distributed Amazon.” A universal shopper profile is created for each customer. This is useful for accessing the shopping history from all participating retailers and to receive product recommendations.
Digital Asset is a startup company that focuses on providing blockchain solutions to financial institutions. The aptly named Digital Asset company is designed to serve financial institutions across global markets. The blockchain platform has been engineered from ground up to facilitate the strictest of regulatory requirements.
Untapped market of roughly 2 billion people worldwide who a very menial opportunity to utilize services such as currency exchange, microfinance and remittance will now be provided with the opportunity thanks to Everex. Everex uses the cryptocash technology to achieve this. Cryptocash links a cryptocurrency’s token value to an international currency allowing users to convert their local currencies into cryptocash and vice-versa to transact and send money across.
The blockchain industry continues growing as more and more people are becoming aware of this phenomenon and the potential opportunities it brings with it. While these are a few startups that could revolutionize the finance market, there are many more innovative startups that show potential to make use of blockchain technologies to its best abilities.
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