Distributed Ledger Technology: The Secret Technology Beyond The Blockchain
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Thank you for continuing to trust us with everything FinTech! Despite mostly finance-related interest in blockchain technology, distributed ledger technology beyond blockchain wallets areas of distributed ledger technology DLT application are not limited to the financial services industry. Along with banks and FinTech startups, non-financial players have been paying attention and looking for ways to leverage the opportunities that DLT opens. Ascribe helps artists and creators to attribute digital art via blockchain.
It also allows to accept consignments from artists and transfer digital works to collectors with all the terms and legals. Serica is one of the examples of a blockchain companies in the cannabis industry.
Serica brings software engineering, crypto finance, financial custody and blockchain technology to traditional custodian finance. It allows entrepreneurs to establish their business legitimacy through the largest network of verified customers in order to grow conversions, registrations, memberships and average order sizes. Serica uses the blockchain in order to track and record every purchase of medical distributed ledger technology beyond blockchain wallets, providing businesses an easy way to accept payments online.
There are also companies like TokkenHypur and others leveraging bitcoin and blockchain in cash-heavy businesses like legal marijuana. The Real Asset Company enables individuals around the world to buy gold and silver bullion securely and efficiently.
Backed by one gram of gold, the company believes its cryptocurrency to be the first step to bringing gold back into the monetary system.
Uphold is a platform for moving, convertingtransacting and holding any form of money or commodity. Distributed ledger technology beyond blockchain wallets company connects banks, credit and debit cards and bitcoin to digital wallets for free financial services and transactions. Factom is one of the most notable blockchain companies applying distributed ledger to the non-financial market — in this case, data management.
The company uses blockchain-based identity ledgers in database management and data analytics to support various applications. Businesses and governments can use Factom to simplify records management, record business processes and address security and compliance issues.
Factom maintains a permanent, time-stamped record of data in the blockchain that allows companies to reduce the cost and complexity of conducting audits, managing records, and complying with government regulations. The diamond industry is one of the biggest natural resource industries and makes a substantial part of the GDP in African countries and other major diamond-miners.
The hallmark of the industry is that it is highly criminalized. Stones are small and easy to hide and transport. The best part for criminals is that transactions can be made confidentially and the sell returns the value over years. Diamonds are known to be involved in money laundering and financing of terrorism on a truly massive scale around the world.
Due to a range of challenges with diamonds business, one of the tech pioneers in the sphere is Everledger. The company provides an immutable ledger for diamond identification and transaction verification for various stakeholders, from insurance companies to claimants and law enforcement agencies. With this use case, blockchain is not necessarily restricted to funds transaction, DLT can be used for the storage of all distributed ledger technology beyond blockchain wallets of data and transactions in a secure and open way.
Moreover, creating an identity on blockchain can give individuals greater control over who has their personal information and how they access it. By combining the decentralized blockchain principle with identity verification, a digital ID can be created that would act as a digital watermark which can be assigned to every online transaction of any asset. Civic is a blockchain based identity management platform that allows users to register and validate their personal identity information and lock their identity in order to prevent identity theft and fraudulent activity on their credit reports.
Civic aims to tackle the problem of consumer identity theft and reducing online identity fraud. UniquID Wallet provides secure identity management, integrated with fingerprint and other biometry on personal devices. Identifi links all personal profiles and identifiers to form a trusted identity.
Evernym is global, fully open-source, attribute-based, self-sovereign identity graph network built on an advanced, dedicated, privacy-enhancing, public permissioned distributed ledger. Energy Blockchain Labs claims to be the only company in the world that is dedicated to the entire value chain in the energy industry. Founded in May by three founders with a complex background in the energy, financial and information industries, the lab is working on the energy revolution and is working with partners to develop a range of energy-based Internet technologies based on blockchain technology, covering energy production, consumption, trading, management and other links.
Within the energy industry, there are other areas where talented entrepreneurs found a way to apply DLT. Among interesting examples are:. Grid Singularitya decentralized energy data exchange platform, hosting a range of applications to facilitate energy data analysis and benchmarking, smart grid management, trade of green certificates, investment decisions and energy trade validation. TransActive Grid by LO3 Energy is based on an open-source, cryptographically distributed ledger technology beyond blockchain wallets decentralized application platform.
Its business logic layer delivers real-time metering of local energy generation and usage as well as other related data. This open energy platform is transparent, auditable, non-repudiable, peer-to-peer and cryptographically secure. Friction in the market is reduced by allowing different classes of users to transact openly on the platform. Follow My Vote offers a secure and transparent online voting solution that uses blockchain technology and elliptic curve cryptography to ensure that election results are honest and accurate.
The company is developing an online open source voting platform that provides transparency into election results by allowing voters to independently audit the ballot box. Blockchain even found its fans in gaming and gambling industries with some colorful examples, proving that there are no limits to the fantasy of imaginative entrepreneurs. Etheria is a virtual world in which players can own tiles, farm them for blocks and build things.
The entire state of the world is held in and all player actions are made through the decentralized, trustless Ethereum blockchain. Made possible by smart contracts and oracles in the blockchain, the First Blood is a platform that lets eSports players challenge each other on the field and win rewards. The company has built a decentralized eSports reward platform that every gamer loves. Etheramid claims to be the most honest social invitation game you will ever see because no one can change the logic.
Even the owner or developer. The idea is to invite and build your own Etheramid network. There are no entry barriers. Advocate is another interesting case — the company has built a platform to reshape the way citizens interact with their government representatives.
There is also a governance platform Borderless — a coalition of globally accessible governance services forged out of smart contracts that live on the Expanse blockchain. As for solutions for effective governance within organizations, there are such examples as Otonomos technology helps automate the mechanics of forming, funding and governing your companyBoardRoom provides a complete blockchain governance platform for organizationsColony allows people around the world to build companies online and more.
At the end of August, Chronicleda San Francisco-based technology company, has launched an Open Registry for IoTsignaling a major step forward in the growth and interoperability of the consumer Internet of Things.
Built on the Ethereum blockchain, the registry stores the identities of physical items, initially consumer goods and collectibles embedded with BLE and NFC microchips. In doing so, a secure, interoperable digital identity is established and new, proximity-based consumer engagement opportunities become possible. Chronicled has open-sourced the project under the Apache License. Filament is building the first decentralized IoT stack, to ensure that devices can securely communicate and transact value without any siloed infrastructure required.
Chimera connects the Internet of Things to real-time analytics performed on the edge node. It is a hub that links the home network to the cloud and electrical devices around it. Verbatm is a blockchain-powered protocol that enables people to provide their credentials without the requirement for third-party verification. Appii utilizes distributed ledger technology to distributed ledger technology beyond blockchain wallets store and verify details of education, accreditations, awards and employment history.
Distributed ledger technology beyond blockchain wallets technology enables professionals to provide quick access to personal details. Satoshi Talent claims to be the first blockchain recruiting firm. The company offers career opportunities at blockchain companies and offers organizations an opportunity to find and hire blockchain and full-stack engineers.
Coinality is a free service connecting employers and job seekers with opportunities that pay in digital currencies such as BitcoinLitecoinand Dogecoin.
Jobs range from one-time to full-time and negotiations are handled independently between the two parties. It allows users to trade on the outcome of events, and for the market to then leverage that crowdsourced information. Augur plans to use decentralized public ledgers to create a way for anyone in any field, from finance, healthcare and governance, to tap into the collective forecasting power of a global user base.
Bittunes is creating a global solution that simplifies music distribution and puts power back in the hands of artists and their fans. PeerTracks is a music streaming, music retail downloadtalent discovery and fan engagement platform that allows everyone — content distributed ledger technology beyond blockchain wallets and consumers — to make a living from music. The solution lies in the underlying peer-to-peer network distributed ledger technology beyond blockchain wallets MUSE that PeerTrack uses to simplify, automate and remove much of the costly overhead.
Other than the streaming and downloading of music, PeerTracks allows tipping, patronage and even the buying and trading of Notes of any artist. JAAK is a smart content platform where anyone can join and earn rewards, collect, promote and share media and contribute to the network. Paperchain enables standardized metadata collection, storage and reporting for the music industry using blockchain technology.
Ethereum is a platform and a programming language that makes it possible for any developer to build and publish next-generation distributed applications. Ethereum can be used to codify, decentralize, secure and trade just about anything: ChromaWay offers blockchain as a platform for financial institutions and is working on a smart contract platform that allows for digitizing and representing workflows in a secure, private and efficient way.
Charity programs rarely provide donors information on ROI of particular projects, which creates obstacles for cultivating trust and getting people to donate funds. Fortunately, blockchain technology can be helpful in building transparency into operations of charities and allowing donors to track how successful their funds have been applied. Among interesting companies applying DLT to governance and transparency of distributed ledger technology beyond blockchain wallets are HelperbitAliceStart NetworkGiveTrack by BitGive Foundation, a donation platform for nonprofits to provide transparency and accountability to donors by sharing financial information and direct project results in real time.
The company is helping real estate, title, and mortgage companies benefit from a clean record of ownership, reducing future title search time, increased confidence, and transparency. When transactions occur all relevant information about the property are put on the platform.
Silvertown helps housing associations and distributed ledger technology beyond blockchain wallets property managers monitor the vital signs of their assets using smart home technologies.
Applying distributed ledger technology to reviews can deliver trustworthy endorsements. The World Tablefor example, launched an Open Reputationa quantified reputation system to aggregate reputation data and report trust scores for individuals and organizations.
ThanksCoin is the reputation ranking of Internet users and monetary reward according to the value of reputation.
Distributed ledger technology beyond blockchain wallets on Ethereum which is a decentralized platform distributed ledger technology beyond blockchain wallets runs smart contracts. One of the most important properties of blockchain technology — the elimination of the need for central authority distributed ledger technology beyond blockchain wallets middlemen — could become a backbone for the real sharing economy, or sharing economy 2.
In the ride-sharing industry, distributed ledger technology beyond blockchain wallets example, Uber and Lyft and two dominant players leading the pack. Both are brands that consumers and drivers trust to match supply and demand. Soon enough, blockchain could fundamentally transform the model with the next generation of companies taking over the niche. So far, decentralized social networks DSN are at a very early stage of development.
Here are few examples that have been highlighted by professionals: According to CoinTelegraphopen-source DSN allows different servers to be linked through the same software. The way Provenance aims to bring transparency into supply chains is by implementing supply chain certification on the blockchain.
