Top 10 Blockchain Projects You Must Know About
More than ten years have gone by since the world experienced the world’s most popular cryptocurrency, Bitcoin, and its groundbreaking blockchain capabilities. Many blockchain project concepts are in development after several years of evolution, and many have already attracted the interest of people and companies worldwide. In today’s world, you may find various decentralized programs for trading and gain access to a wide range of features through accessible possibilities.
Many individuals now consider the increased availability of various blockchain initiatives to be a positive feature. The massive array of blockchain projects in 2021, on the other hand, can be perplexing for users. Do you wish to go with Ethereum-based public blockchain projects? Or do you want to make use of the features of private blockchain projects like Fabric or Corda, which have a more substantial chance of transforming the blockchain landscape? A blockchain project list can assist you in removing all of your doubts and making the best decision possible when it comes to blockchain development.
On the other hand, some individuals or businesses may be receptive to the possibility of switching to newly emerging blockchain projects. However, if you don’t have the correct advice, you’re more likely to get lost along the road. The next talk will go through some of the most important possibilities for turning your blockchain project ideas into reality.
Top Blockchain Project Ideas in 2021
Many blockchain project concepts are slowly seeing the light of day, thanks to industry leaders leading from the front. New blockchain-based projects are springing up to address the current world’s inefficiencies. So, without further ado, here is the list of the most significant blockchain projects for the year 2021.
Boeing’s SkyGrid is another significant industrial blockchain that appears among the top blockchain project ideas for 2021. Boeing’s HorizonX venture arm has put a lot of effort into building SkyGrid. It functions as a blockchain-based air traffic control system for drone tracking and communication. Most importantly, SkyGrid has been successful in obtaining FAA approval to provide low-altitude authorization to drone pilots.
SkyGrid is also available on the iPad as a free app. For package delivery and industrial inspections, SkyGrid creates a permanent record of data. SkyGrid can power autonomous flying taxis in the future by harnessing the capabilities of blockchain platforms such as Hyperledger Fabric and Go Direct.
Honeywell has emerged as one of the early adopters of corporate blockchain technology along with other well-known tech companies. It is a famous industrial company that has successfully transferred over 2 million aviation-related documents on a blockchain ledger platform. Honeywell has taken advantage of Hyperledger Fabric’s features to successfully migrate aviation quality documents.
As a result, it can assure that all of its customers have access to aviation-quality papers. Honeywell also runs GoDirect Trade, a blockchain-based marketplace. GoDirect Trade boasts a $4 billion inventory of old aviation components and has attracted over 10,000 users.
Samsung SDS, the company’s IT division, has created several blockchain initiatives for local hospitals, airports, and municipalities. Samsung can leverage the Nexledger blockchain platform to establish itself in the blockchain ecosystem. The most prominent entry among Samsung’s various blockchain projects is a one-stop medical claims processing solution. Patients can submit claims at a hospital reception desk, mobile device, or kiosk using this service.
HSBC is without a doubt one of the most well-known banking institutions with a vision for futuristic blockchain project ideas. The London-based bank uses blockchain to improve its foreign exchange flows across all of its international locations. According to recent estimates, HSBC’s blockchain ledger assisted in settlement of around 1.9 million trades worth $1.7 trillion.
However, Digital Vault is one of HSBC’s most well-known programs. It’s a blockchain-based platform that focuses on digitizing all private placement transaction records. This platform is the brainchild of HSBC’s Securities Services business (HSS), which wants to ensure that its investors have access to data when the market rises. Clients will also have access to their private assets and data, such as real estate, debt, and equity, through Digital Vault. Of course, everything is stored digitally and is entirely secure.
Microsoft, the world’s largest computer company, isn’t far behind when it comes to blockchain project ideas. Microsoft has teamed up with EY to create one of its most well-known blockchain apps, based on the Ethereum and Quorum blockchains.
Content rights and royalties management are among the characteristics of the blockchain application. Game producers like Ubisoft and Xbox were among the first to embrace Microsoft’s new blockchain infrastructure. Microsoft’s new blockchain mechanism for making automatic royalty payments is superior to traditional procedures.
Vitana is one of the blockchain project ideas that MetLife is working on. A whitepaper on the Vitana project was recently produced by MetLife’s Singapore-based technological development lab LumenLab. It’s a parametric insurance-related initiative.
In actuality, this project is centered on blockchain for insurance, with aspirations to incorporate the technology into other aspects of the industry. This initiative is now working on gestational diabetes mellitus, which affects pregnant women. It is a hazardous disease that requires additional financial support to be eradicated. As a result, MetLife utilizes Vitana to provide insurance tailored to pregnant women to assist them in combating this ailment if it emerges.
Shell is developing a decentralized digital passport system using blockchain technology. This is one of the few blockchain project ideas they’re considering right now. The company will verify all parts, equipment, and products in this project, resulting in a data stream system that safely processes and preserves all data. We don’t know with whom Shell is collaborating on this project, but they are revolutionizing their supply chain.
The current plethora of blockchain project ideas also conjures up the image of Visa. Its greatest strength is its massive network of Visa access points, including about 70 million merchant locations. Central banks are gradually shifting their focus to digital currency creation. As a result, Visa is attempting to use substantial R&D to ensure the safe flow of digital money outside its margins.
“Visa B2B Connect” is one of Visa’s significant ventures. It takes advantage of Chain’s blockchain architecture to provide a better cross-border payment solution. In truth, this project can provide a cost-effective, secure, transparent, and quick method of processing all global payments.
Visa has already filed 159 blockchain-based patent applications for various uses. Biometrics for validating an individual’s identification and increasing transaction security are two significant examples of Visa blockchain developments. Visa has announced a partnership with the US Dollar Cryptocurrency, or USDC, a stable coin designed to speed up business-to-business transfers.
The Food Traceability Initiative of Walmart should never be overlooked while discussing blockchain project ideas. For detecting contamination and other food safety risks, the retail behemoth uses the blockchain-based Food Traceability Initiative. It can keep track of about 500 different goods, including meat, fresh leafy greens, shellfish, and coffee.
Walmart aided the FDA in six different food safety investigations the previous year. Interestingly, Walmart’s Food Traceability Initiative blockchain application provided extensive information about the initial source of contamination in less than one hour. Walmart also wants to run a pilot program with US Customs and Border Protection to track imported items.
IBM was one of the first major corporations to devote significant resources to large-scale blockchain projects. With the IBM Blockchain garnering headlines in various circles, IBM has released the Digital Health Pass application. The Digital Health Pass program assists organizations in confirming an individual’s COVID-19 test results and their temperature readings.
Customers, such as stadium operators, could use the Digital Health Pass application based on their criteria. Stadium operators, for example, may choose whether or not a person was vaccinated. Hyperledger Fabric and the IBM Blockchain are used in the Digital Health Pass initiative.
Why It’s Important to Take a Note of Blockchain Project Ideas?
Now that we’ve gone through the various advantageous possibilities in the best blockchain projects 2021, it’s time to consider why we should do the same. Many individuals believe that blockchain technology will be the deciding factor in the financial world’s future. Blockchain project ideas can be expanded beyond the financial sector, owing to blockchain’s cost-cutting and processing-time-reduction features.
At the same time, the benefits of blockchain’s transparency encourage its use in various businesses. We previously published a list of open-source Blockchain initiatives, with the automotive, electronics manufacturing, and financial industries among the top supporters of blockchain integration.
Furthermore, major tech companies such as IBM and Amazon have developed blockchain systems that cater to direct and indirect clients. Amazon Web provides one-of-a-kind blockchain extension services. Simultaneously, IBM created the IBM blockchain.
Which Blockchain Project Ideas is the Best?
Finally, the blockchain project ideas for 2021 include numerous promising remarks. Many tools, however, were unable to cut, and others are still in the early stages of development. One of the reasons for the current emphasis on blockchain initiatives is the constantly growing interest in technology. Most importantly, because blockchain is open source, you may locate blockchain initiatives that align with your company’s transformation goals.
Furthermore, several blockchain projects are challenging long-held beliefs about blockchain applications. Blockchain ventures are focusing on forecasts and information rather than just offering platforms for exchange or mining money. The future of blockchain technology and blockchain specialists is quite promising. If you want to further your Blockchain profession, earn one of the best Blockchain certifications, and you’ll be well on your way!