Blockchain-based Startups Making a Difference In The Crypto and Blockchain Industry

Blockchain-based Startups Making a Difference In The Crypto and Blockchain Industry

Cryptocurrency
June 23, 2018 Shloka Bhalgat
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New technologies bring great changes and innovations. Information can be open and verified, the market can be transparent, profits can be shared, and the world can be fair. Blockchain Technology has been in the buzz for its transparent, decentralized, fast, secure, and cost-effective solutions. With the help of innovative ideas, it can open doors to
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New technologies bring great changes and innovations. Information can be open and verified, the market can be transparent, profits can be shared, and the world can be fair. Blockchain Technology has been in the buzz for its transparent, decentralized, fast, secure, and cost-effective solutions. With the help of innovative ideas, it can open doors to mint platforms for new businesses and be instrumental in the invigorating use of the Blockchain Technology. Asian Startup companies, who have a remarkable number of Blockchain enthusiasts working to improvise the use-cases and overall utility of this technology, are spreading over the past two years. The only intent being: to make our lives easier with the assistance of Blockchain technology. Here are some noteworthy contributions which have flourished in their cause.

The more we spend on traveling, the richer we become. This concept was taken to the next level by TravelChain as a platform for the Blockchain technology which was created to make the world of traveling simpler, affordable, and safe. This Blockchain- based platform allows authentic and structured tourist information which can be used by travel companies to know in detail about their customers. Also, it would give the travelers an opportunity to experience the tailor-made services for them.

When it comes to being luxurious, few people would prefer to be not. Over the last 10 years, the value of collector and exotic cars have outperformed both property and gold, making it a solid wealth creation vehicle. Envision a world where our high-performance assets which will be fueled by Crypto: like a supercar which you have worked for, will work for you instead. This is made possible through a Blockchain based peer-to-peer platform is known as Bitcar. This company has been offering digital Ethereum Blockchain tokens called Bitcar.

It is true that Blockchain has positively disrupted the finance industry and is making a debut in many non- conventional streams ruled by artists and musicians. Tang Ling, a blockchain enthusiast in China who has co-founded Singapore-based Ink Labs. The motive behind such a bold step was to realize the true potential of Blockchain Technology in creative projects. “The initial registration of the copyright, for example, is one thing that is commonly ignored by Artist and more broadly original content creators,” said Tang in an interview with Forbes. Anything that gets uploaded to the platform can be verified and audited with respect to the originality of the content. This platform also provides copyright to the owner of the piece almost instantly thereby avoiding a long process of initial registration for copyright. However, if a violation of any rule occurs which is written in the smart contract, the artist can get a copyright fee. This copyright then can be tokenized and hence becomes a Blockchain asset.

Another company TenX, based in Singapore makes cryptocurrencies spendable in real life through a debit card, by offering various cryptocurrencies to use anytime and anywhere. For example, we can pay Ethereum ETH in real life through a TenX card. Or, precisely it focuses on the conversion part of a cryptocurrency to a currency we know (US dollars), which is usually a long and tedious process. Such an innovation could only be possible with the Blockchain Technology.

Today we get electricity through a company assigned in our area which restricts the area of consumption for the company as well as choices for the customers. A Singaporean Startup known as Electrify has worked on a Blockchain based retail electricity marketplace in Southeast Asia dressing the need for transparency and security in the consumption of electricity. Which means that household consumers can get access to a variety of electricity suppliers and can choose a package that suits their lifestyle which gives rise to a more liberal and decentralized way of trading for energy. This is similar to buying mobile phones from a variety of options available online. This platform allows retailers to come up with packages and prices and tag on perks associated with the package. The possible electricity retail options could be pay-per-use, the low rate with extra charges or it could be unused electricity rolled over to the next month with determined rate. It also opens doors for an environment-friendly package where consumers can buy from retailers that use the most renewable resources to create energy. This is how Blockchain Technology can even contribute to a better environment along with a transparent economy.

Keeping in mind the diverse possibilities spawned by the Blockchain technology, one cannot deny the positive impact this technology can have on our lives. To bridge the gap between making this possible and actually using it, Asian Startups have passed with the utmost potential to be recognized in the Crypto and Blockchain industry.

Shloka, a computer engineer by profession, is an ardent follower of Blockchain Technology.  She likes to interact with woman tech entrepreneurs and cover their stories. Shloka wants to grow and build women blockchain community. If you have any good and innovative story to shout in Blockchain, you can connect with her.

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