October 12, 2015
Blockchain is a network approach to making digital currency completely open, decentralized and very difficult to hack, steal or counterfeit.
There has been a lot of focus on blockchain’s application for the financial world. However, there are several other industries that are already putting blockchain technology to advanced practice. We call them non-financial use cases of blockchain
Here are the 13 promising blockchain startups that signal new approaches to data integrity in the non-financial markets.
The startups mainly focus on diverse markets, including cloud storage, smart contracts, social networking, anti-counterfeiting, governance, digital identity, supply chain, art & ownership, prediction markets and the Internet of Things.
Augur is a prediction market platform that rewards a user for correctly predicting future events. It allows users to purchase and sell shares in the outcome of an event. The current market price of a share would be the estimate of the probability of an event happening and the sum of all shares for an event would always be $1.
Mirror is a contracts platform and data provider that democratizes access to financial markets, developing a smart contracts platform to enable P2P trading.
Colu allows fast access to colored coins and the Bitcoin 2.0 infrastructure through an API that will power distributed applications. The app for consumers provides secure access to everyday purchases and experiences.
Storj is a cloud storage platform with a suite of decentralized applications that allows users to store data in a secure and decentralized manner. It uses blockchain features like transaction ledger, public/private key encryption and cryptographic hash functions for security.
Filament is building a decentralized IoT stack to ensure that devices can securely communicate and transact value without any siloed infrastructure. Filament builds sensors (called Taps) that are used by companies such as Amazon and SpaceX.
ShoCard is a digital identity that protects consumer privacy and is as easy to understand and use as showing a driver’s license. It’s optimized for mobile, and is so secure that a bank can rely on it. It's the one identity verification system that works the way consumers and businesses need it to for security, privacy and always-on fraud protection.
BitProof protects people’s creations from being stolen and provides the ability to create legal proofs of documents in less than a minute over the blockchain.
Ethereum is a decentralized platform that runs smart contracts—applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Symbiont is a provider of smart securities on the blockchain. The company aims to eliminate many of the inefficiencies and the opaqueness that have developed on Wall Street by utilizing the speed and security of cryptographic distributed ledgers known as blockchains to enable faster markets that are more efficient, and exhibit lower costs with increased liquidity, transparency and security.
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.
TRST.im is a bitcoin reputation platform that allows users to rate and review their counterpart while retaining their anonymity.
UbiMS is developing the Inter-Supply-Chain-Net (ISCN). The ISCN is an IT portal powered by a blockchain that executes an order fulfillment utilizing a patented [3D] supply chain process system to distribute products from the manufacturer to the consumer in the most efficient way possible.
Everledger provides an immutable ledger for diamond identification and transaction verification for various stakeholders, from insurance companies to claimants and law enforcement agencies. Everledger provides new methods of financing and insuring diamonds, as well as combatting fraud, by providing an application for various stakeholders in the diamond pipeline.
14. Chimera IoT:
Chimera IoT is a Kenyan startup building smart home systems made and tested to work in Africa first. Chimera has a range of hardware products and mobile app designed to work in as low as 2G internet environment and with inbuilt power backup. The startup is founded to solve the problem that existing smart home solutions aren’t built to work in Africa and emerging market environments. It’s focusing on the Internet of Things, artificial intelligence, big data applications and its products are based on the ZigBee standard.