The birth of Bitcoin has spurred the creation of hundreds of novel blockchain-based projects that can potentially disrupt a variety of industrial sectors. In this article we will look at just a few of these projects and aim to describe how they work in the simplest terms possible.
However, before we get on with the show, we need to understand what distributed ledger technology (DLT) is, primarily because it forms the basis of all blockchain systems. In its core essence, a distributed ledger can be thought of as a compendium of data where all of the information is shared between network users in a completely transparent manner. So without much ado, let's get on with the list:
Here’s a List of the Most Innovative Blockchain Projects Shaping the Future of the World
Propy is one of the biggest names within the world of blockchain-enabled real estate. The platform comes packed with a host of listings that can be purchased through the use of cryptocurrency. To be even more specific, we can see that in its current iteration, the app offers around 15,000 real estate opportunities to prospective buyers at any given time.
These listings are spread all across the globe in countries like the UK, United States, Russia, Dubai etc.
Not only that, customers can also use Propy as a means of selling their real estate. This is achieved via the use of an Ethereum-based property registry that tracks property ownership in a real time
A powerhouse player when it comes to the world of blockchain-based finance, OmiseGO in its simplest form can be thought of as a white-label platform that can be used for running smart contracts and cryptocurrency wallets. Not only that, OmiseGO also serves as a decentralized bank, exchange, and asset-backed blockchain gateway that has been designed to link a variety of payment systems like PayPal and Visa with blockchains such as Ethereum.
At the time of writing this article, OmiseGO is currently working on creating its native digital network called the ‘Tesuji Plasma’ in order to help solve many of the existing issues of scalability that are linked with the blockchain space today. If that wasn't enough, it is also being reported that Tesuji Plasma will make use of the POS algorithm to lower altcoin transaction costs.
As many of us already know, the healthcare industry is one of the most data intensive service sectors in the world today. Not only is there a large volume of data related to patient info, inventory etc that needs to be secured, all of this information also needs to be maintained with a high degree of privacy and integrity at all times.
In this regard, blockchain technology promises to be a gamechanger with BrustIQ leading the charge. The platform is designed to disrupt the healthcare industry through the use of a blockchain based protocol that can help individual customers securely store and manage their personal health data. It is also worth noting that the company is currently working with a host of medicare providers, pharmaceutical companies, insurers, in an effort to increase data transparency.
4. TWO IoT
Another industry where blockchain technology has the potential to work its wonders is the waste management sector. TWO IoT is a blockchain firm that has developed sensors that can measure how full a trash bin is and then transport this data to various waste management companies— thereby streamlining the process of garbage removal and collection..
Also worth mentioning is the fact that all of the information collected by TWO IoT is stored in IOTA's Tangle ledger. For those unaware of the Tangle protocol, the technology basically makes use of a system called DAG (Directed Acyclic Graph) to store information. As a result of this, Tangle helps process a multitude of transactions simultaneously at zero cost.
B3i is a blockchain initiative that is looking to redefine the way in which people buy insurance schemes. If successful, B3i truly has the potential to improve the efficiency of this industry by a staggering 30%. This is made evident by the fact that B3i’s native blockchain protocol was tested by 38 insurers and brokers who unanimously found that it made transactions more secure and efficient for them.
One of the biggest names in the crypto world today, Stellar is a blockchain project that essentially represents a network of decentralized servers that help facilitate cross-border money transactions in an easy and cost-effective manner.
It is also worth noting that in order to facilitate all of its monetary transactions, Stellar makes use of its native currency called “Lumens”.
This blockchain project is the brainchild of developers based in the picturesque, Noric nation of Iceland. Simply put, Authenteq combines the potential of blockchain and artificial intelligence (AI) to help with facial recognition.
Using its AI driven multi-step verification process, Authenteq has so far been able to perform over 150K verifications. Not only that, the platform has also been tested and approved by a wide array of AML bodies across the world.
This project is designed to help people spend their crypto holdings within today’s retail sector more efficiently. Crypto.com basically works by using a special cryptocurrency-compatible Visa credit card as well as an online wallet that streamlines alt-coin payments.
While currently dominant only within the nation of Singapore, Crypto.com now plans to expand its influence to other Asian countries in the coming future.
Greenum is a novel blockchain startup venture that aims to promote the use of renewable energy via peer-to-peer trading means. In terms of how the system works, Greeneum first records the green energy produced by an individual household and then proceeds to issue Greeneum Carbon Credits and Green Certificates. However, the best part about the platform is that all of its internal processes are fully automated.
Zilliqa is one of the more revered names within the crypto domain today, particularly because the firm aims to develop a platform that will allow for the average blockchain to scale up its transaction capacity as and when required (through the use of a process called ‘sharding’).
For those unaware of what ‘Sharding’ is, it is a method by which data blocks can be divided into smaller entities, which can then handle multiple transactions at the same time.