How does the future of blockchain look like?
In essence, any startup whose product revolves around decentralization and allowing more autonomy for its users can benefit from blockchain technology. As a result, blockchain is most likely the game-changer your startup has been looking for long ago.
While it is interesting to look to the future of blockchain, new innovations continually enter the market promising bigger and bolder applications of the technology. As active blockchain networks continue to bring real change to a number of industries, the IBM Blockchain team predicts the following five trends for the foreseeable future: Pragmatic governance models, Interconnectivity, adjacent technologies combined blockchain, Validation tools, CBDCs.
How startups are using blockchain?
Blockchain technology has been skyrocketing with the success of cryptocurrencies. It’s not only a new trend for many startups in the IT field but also drawing the attention of entrepreneurs outside the industry. The future of blockchain has become so promising that IBM (International Business Machines Corporation) is investing more than $200M in research. Furthermore, more than 90% of European and US banks are researching blockchain options. This technology could revolutionize government, finance, insurance, and personal identity security, among hundreds of other areas. Therefore, many startups are beginning to implement blockchain technology in their products.
Top Blockchain startups and companies
Bacoor Inc. is one of the blockchain leading companies in Japan. They have developed blockchain products since early 2012. HB Wallet, their first Blockchain product built on Ethereum, was well-recognized as the Top Ethereum Wallet in Japan in 2018 with over 300,000 downloads and more than 70,000 active users.
Currently, Bacoor Inc. is focusing on developing the Pantograph ecosystem on TomoChain. With Pantograph, they aim to widen the concept of Token Economy where blockchain comes into everyday life and makes everything easier.
Bacoor Inc. has an experienced and enthusiastic team of developers and experts to help enterprises integrate blockchain features into their business.
Consensys is one of the software engineering leaders of the blockchain space. They have developed enterprise Ethereum applications and developer tools that increase security and efficiency. The company accelerates blockchain startups by investing in them. The expert team at Consensys also offers online and in-person training on the blockchain.
Blockchangers is a blockchain technology company specializing in helping its customers understand and capitalize on the potential of blockchain technology.
Customers who want to build dApps can consult Blockchangers to discover the best idea for their project. They are experts in providing lectures, seminars, consulting, and development services to make their clients understand the potential of blockchain technology.
Since 2007, Intellectsoft has been involved in the information technology industry serving its customers with high-quality services. The company expertise in emerging technologies like Blockchain, Augmented Reality, Big Data, Internet of Things, and AI.
They have a promising blockchain team who have hands-on experience in the development of distributed applications and private/public blockchain development.
With 27 years of experience, Infopulse provides scalable services and consultation to enable customer’s success in 25 countries worldwide. They often work with mid-sized IT organizations.
Infopulse orient customers’ business goals by offering blockchain solutions to drive their smooth digital transformation journey.
Axioma is one of the companies that provides technology-based solutions. They have developed complex and powerful blockchain projects for different fields such as fintech, e-commerce, and gaming.
At the beginning of 2017, they entered the major cryptocurrency industry. Due to their many years of relevant experience, they have quickly adapted to blockchain and provided solutions for many companies looking to transform their businesses.
Best blockchain business ideas in 2020
Blockchain enthusiasts never fail to point out its “democratic” nature, as anyone can join the chain and share the profits.
Perhaps blockchain technology can facilitate today’s democratic systems. In any election, voters must be identified, their votes must be counted and recorded. It is an elaborate process full of contradictions.
This is where blockchain technology comes in. It allows everyone to be counted down to each vote, as well as eliminating the window for possible fraud and dishonesty.
A vote can be thought of as a single transaction, for example in the case of a cryptocurrency, no one can alter it in any way without interrupting the entire network.
The online marketing industry is still learning on strands that can get pretty chaotic over time. Users are consistently spammed with unsolicited ads that do nothing but increase their mobile data usage. On the other hand, advertisers and their customers are left with no clear parameters of the impact of their ads. Blockchain technology will avoid intermediaries like google and direct connections between advertisers and consumers in a peer-to-peer system.
Cloud storage was successful when it first appeared, but the system is not bulletproof. Since companies store user data in centralized servers, this means that cloud storage has a central point of failure making the entire system vulnerable to attack.
Since blockchain is decentralized, storing data utilizing blockchain’s feature of hashes makes it virtually impossible for hackers to hijack all the blocks.
There are millions of doctors and medical staff across the world. If they are able to connect somehow then that is ideal for the patient. However, the sad truth is that even two different departments in any hospital have difficulty communicating.
Information sharing is essential in healthcare and blockchain technology can solve this problem.
Sharing information across platforms allows for a more accurate diagnosis, and it’s more likely that medical treatments will deliver results.
Student records and diplomas are kept either in folders or stored in offline databases. This evident lack of networking leaves plenty of room for plagiarizers.
Blockchain technology has the possibility to connect all the different databases as well as to speed up the process of verification and nostrification. This means it’s virtually impossible to tamper with students’ hard-earned academic credits.
On November 18, 2020, TomoChain teamed up with Vietnam’s Ministry of Education & Training to secure millions of Diplomas on the TomoChain Public Blockchain. This means official records can be issued out easily and verifiable more easily in the near future.
The ideas we list in this article are just the tip of the iceberg when it comes to the application of blockchain technology in entrepreneurship. Before the advent of blockchain, there’s no way for a business to secure and validate true ownership of a digital asset or a transaction in a public yet safer manner.
So how to prevent a digital asset like an art piece from duplication? Here the blockchain comes into the picture. Blockchain is the first technology that allows you to transfer digital assets in a transparent and secure way.
It’s not early to say that the future of blockchain is the future of technology. Choosing the right blockchain development partner can help companies build a cryptographic ledger that can transform their business operations and bring transparency to the ecosystem.