The creation of blockchain technology may prove to be one of the turning points for humans as a species because of its potential to transform nearly every facet of how things are done.
More and more companies are looking to blockchain to improve current system flaws in terms of security, affordability and inefficiency. I have recently done freelance work for both Volt and OkeyDokey so I wanted to include some information on them and a few other blockchain startups i like the look of.
VOLT is a P2P blockchain same-day delivery platform that seeks to create a more beneficial delivery ecosystem for both the messenger and client. The system is decentralized, which means the hub is removed from the equation leaving a system where customers are connected directly to messengers and brokerage fees are all but removed.
Anyone will be able to execute the deliveries using smart contracts and messengers will be incentivized by a customer rating system. The door will be open for a variety of transportation methods and subsequently more eco-friendly minded customers can opt for a more eco-friendly mode of transportation. This has the potential to significantly increase and improve the accessibility of same-day deliveries, for which there is becoming a huge demand.
The drug industry is not in the best place right now with an estimated $200 billion worth of counterfeit drugs in circulation. FarmaTrust seeks to eliminate this problem by creating an ecosystem where it will be hard for counterfeit drugs to enter the system.
The system combines advanced data analytics, artificial intelligence and blockchain to provide a place where the drug industry can flourish. Using an app each package can be tracked and it is verified using the blockchain system as it travels from point A to point B.
OkeyDokey seeks to make asset sharing a more efficient, cheaper, accessible and automated process for both asset owners and renters. Blockchain technology will be combined with smart locks that will process bookings, payments and that will allow the owner to provide access to the asset to anyone they choose without having to be there.
Furthermore, OkeyDokey will be connected to a number of third party websites where bookings take place. It will increases the customer base for OkeyDokey and it will help to avoid double bookings across multiple platforms for the same asset.
Another interesting blockchain based startup is Ripe, which make use of the distributed ledger technology to track food items from barn to the fork. The system is updated via specialized scanners and sensor throughout the ecosystem. The system will be data rich as it will be integrated with planting, harvesting and irrigation systems.
The idea is to allow everyone in the food industry to benefit. For example, farmers can receive information about buying patterns to see what type of crops will be most profitable to plant in the coming season. Likewise, store managers can see harvesting information to figure out the price of food and what amount they can sell them for.
This startup wants to increase the security, accuracy and accessibility of medical records. It means the right healthcare providers will get the information that’s required to provide the best possible medical assistance to the patient.
It’s one of the first HIPAA compliant blockchain revenue generating systems developed for the healthcare industry. It’s a value based system, which means that healthcare service providers are incentivized to share information and to keep it updated. The nature of a decentralized blockchain infrastructure means that the medical records will be updated throughout the network as changes are made.
Bitcoin has yet to be used primarily as a currency to buy and sell things, but Open Bazaar seeks to change that. It has created a peer to peer marketplace that allows transactions to be completed between users without the fees you would see from Amazon and eBay for example.
Another highlight of the system is the speed at which transactions can be completed. In just minutes payments can be executed and all nodes on the system are updated to ensure the security integrity is not broken.
The Shopin startup is trying to take the Amazon model but shift the ownership of data back to the individual shoppers, If successful they could potentially revolutionize the way we buy things online. Using their system online retailers are brought together, profiles are created for each customer and reviews can be left to provide product recommendations.
Shopin has raised more than $2.5 million and a number of retailers have already agreed to use the platform. It’s all about getting traction at the start with a few big retailers and it may grow from there.
Conclusion
The blockchain startups on this list are all exciting ideas that bring something new and helpful to society. If any of these systems are implemented to their full potential then it’s going to transform those industries for the good, and in some cases, for the good of everyone.