Published on September 11th, 2018 | by Bibhuranjan0
7 Startups Leading the Blockchain Transformation
Blockchain is not just about Bitcoin and other cryptocurrencies that aim to chance the world of banking and finance. The distributed ledger technology is also set to transform many other industries and possibly even the web as we know it, thanks to its decentralized and secure architecture.
Below we take a closer look at 7 startups currently leading this blockchain transformation …
Augmate is a smart device management platform aimed at enterprise corporations who need a secure and user-friendly system for their company’s ‘Internet of Things.’
Or, in layman’s terms, a way to keep tabs on all business’ internet-connected gadgets, from wearables to the office smart coffee machine.
Augmate runs on the Blockchain and was founded by Pete Wassell in 2013—their ‘Initial Coin Offering’ (ICO) was completed this summer.
Their official website boasts that their tech “removes the traditional barriers of interoperability, time, and adaptability,” and that they are helping to shape a “fourth industrial revolution.”
Augmate has their eyes fixed on everything from small businesses to the military and will start piloting their ecosystem later this year.
Although the internet has already made lending and borrowing money easier with loan connection services like WhoNeeds500, blockchain technology is doing a similar thing with startups like EthLend.
The platform uses the Ethereum smart contract blockchain and allows individuals on both the borrowing and lending end to easily come together. The terms of the loan are confirmed and verified via smart contract and a borrower’s holdings in the Ether token can be used for collateral on the loan.
The company aims to remove the control banks and other large lenders have over the lending market by making it easier for individuals to come together.
BlockNubie is a blockchain startup from Ireland and instead of disrupting other industries directly, their aim is to help other blockchain startups get off the ground. The Nubie part of its name is a play on the term newbie or newcomer.
It helps new blockchain-based startups by offering several useful DApps, a step by step guide on how to do an Initial Coin Offering (ICO) and will even help the onboarding of a traditional startup onto the Blockchain.
As well as providing development tools and advisory services, they can also help startups find capital and investment.
It’s a lofty goal, but creating a Blockchain startup ecosystem helps ensure high standards within the market and is beneficial to all involved.
When two ground-breaking technologies come together—blockchain and artificial intelligence—interesting things happen.
Enter XAIN; backed by researchers from Imperial College London and Oxford University, the startup has created a blockchain system that solves many of the problems that currently face the technology—mainly energy consumption and the intensiveness of mining.
They have used modern machine learning algorithms (AI) to reduce the energy needed to maintain their Ethereum-based blockchain network.
What this potentially means is companies that use XAIN for their applications and services will be able to scale much faster than those using traditional blockchain networks, while maintaining the security and privacy inherent with the decentralized distributed edger concept.
5) Hashed Health
Hashed Health is bringing the benefits of blockchain infrastructure to the healthcare industry, which has often found its digital solutions bloated and insecure.
They aim to work alongside private and public healthcare sectors to make patient data more secure and to facilitate healthcare payments.
“In healthcare, it’s almost impossible to avoid transactional inefficiency,” said Hashed Health Chief Product Officer, Corey Todaro. “The provision of even the simplest procedure in healthcare triggers a transactional cascade of administrative transactions between multiple parties and stakeholders to deliver that care to a patient.”
A distributed ledger recognized between all parties that is automatically maintained and secure solves this problem.
Bitcoin promised to connect the entire world together, allowing even the poorest citizens of tightly controlled and oppressive economies to enter the global market. The only problem was it still wasn’t accessible without a steep learning curve.
Humaniq offers a simple and secure mobile app that facilitates an entire financial services package, for both unbanked individuals and small businesses cut off from the market.
It aims to “eradicate poverty amongst millions of people living in emerging economies” by plugging them into their ready-to-go platform.
SettleMint is like a middleman helping existing businesses leverage the benefit of blockchain via its hands-on guidance and apps. “We make building blockchain applications easy for IT teams,” reads their slogan.
SettleMint’s aim is to improve the efficiency and security of its users and clients and to help expand their products via blockchain technology.
As proof of concept, they developed a blockchain-based document management system and a data marketplace.
The Mint ‘middleware’ is a zero-configuration smart gateway that works on top of smart contracts.
What do you think of the ideas presented by these fledgeling companies and are there any other startups that we should be taking notice of? Let us know in the comments below!