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17 March 2023

10 Hot Blockchain Startups Ideas

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The article presents the top 10 startups in 2020, working to make the blockchain more common and accessible. Everyone offers something unique with a claim for dramatic changes in the industry and huge profits. You have heard about some of them, others are dark horses. At the same time, they all have a great chance to either become a part of our life or bring huge profits to their investors.

# 1. Libra: Cryptocurrency from Facebook

The intensity level of discussion Libra on Twitter after the announcement is almost equal to Bitcoin DataLight)

The announcement of the launch of cryptocurrency from Facebook in June 2019 and the publication of its whitepaper is probably the most important event in the cryptoindustry this year. The news is so significant that it caused a heated discussion both within the community and beyond. And if among blockchain-enthusiasts, the launch of Libra was perceived by the majority very positively, then outside the industry the assessments are mostly negative and even frightening.

For example, the US Congress called on Facebook to stop working on Libra, French Finance Minister Bruno Le Maire fears that this crypto coin could become a global sovereign currency, and the head of the Bank of England Mark Carney said that Libra would require strict regulation. Someone even predicts the collapse of the global economy after the launch of a new cryptocurrency.

The fact is that the Facebook cryptocurrency is the stablebcoin integrated into the Facebook software products, the rate of which is linked to the price of real assets and fiat currencies. That is, it will be an affordable coin with a stable exchange rate, which can be used as an alternative to unstable national currencies, for example, the Argentine peso and Turkish lira.

What else is known about Libra:

  1. Launch of the Libra payment system is scheduled for 2020. At the initial stage, its rate will be supported by reserves of four national currencies: dollar, pound, euro and yen. At the same time, the entire Libra money supply will be provided with reserve funds of these fiat currency.

  2. The platform is based on the Libra Network blockchain, which relies on a slightly modified Proof-of-Stake (PoS) consensus algorithm, supports smart contracts and has high bandwidth.

  3. For operations with Libra, a Calibra wallet has been created, which in the next 18 months will be integrated into Messenger, WhatsApp and

# 2. Bandwagon: Ticket selling

Bandwagon create a stadium as a service platform

Hyperledger Fabric blockchain-based technology platform that has two global goals:

  1. Create a safe market for the initial and re-sale of tickets for any event - from football matches to dental symposia.

  2. Use the visitors' personal data to help event organizers maximize revenue by increasing attendance and attracting new members (fans).

To implement this, a blockchain network has been created that identifies the parties to the transactions and the tickets distributed by the Bandwagon, thanks to which it is always known which ticket belongs to whom. As a result, fraudsters will no longer be able to sell fake tickets, because of which visitors annually lose more than 2.3 billion dollars (in an industry with a turnover of 30 billion dollars).

The Bandwagon concept was tested on college football and then extended to other sports and types of events: conferences, concerts, symposiums, etc. Now the network processes over 1 million tickets per year and has good growth rates of user engagement (people more often buy tickets).

# 3. (ATOM): Combining all blockchains

Cosmos Network with connected Bitcoin, Ethereum and some other potential zones

A decentralized platform that is potentially capable of connecting all blockchains into one global ecosystem (Internet of Blockchains, or IoB), which will allow unrelated chains to exchange values without resorting to the services of intermediaries. The Cosmos project is at the development stage, but it has already entered the twenty cryptocurrency with the largest capitalization.

How blockchain platform will be used for two tasks:

  1. The network will become something like a decentralized cryptocurrency exchanger, with which you can exchange BTC for ETH or another virtual currency without using the services of exchangers, cryptocurrency exchanges, banks and other intermediaries. In the future, through Cosmos, it will also be possible to change other values: images, video, audio, certificates, etc.

  2. With Cosmos, you can create decentralized applications (DDaPs) that can interact with various blockchains connected to the Cosmos Network. It will be possible to create DDaPs from pre-designed modules and templates or from scratch.

The Cosmos network was launched on March 13, 2019, but the project is still at the concept verification stage. So far, only atomic transfers have been tested (the exchange of tokens between different blockchains). By the end of the year, it is planned to add the IBC communication protocol, which will allow connecting other blockchains to the Cosmos Network, for example, Bitcoin or Lightcoin.

# 4. PhunCoin: Loyalty management

PhunCoin Work Scheme

PhunCoin is a network from Phunware and IBM. Positions itself as the only blockchain platform that provides solutions, products, data and services needed to attract, manage and monetize the audience of mobile applications. Phunware managed to attract $ 100 million in venture financing and became the first company in the history to be included on the NASDAQ list and at the same time launching Security Tokens Offer (STO).

PhunCoin Blockchain focuses on the Fortune 1000 hospitality and retail brands. To use it, simply install the Phunware Loyalty SDK. After that, companies can launch their own loyalty programs and reward customers with Phun cryptocurrency, which can be accumulated and changed for products, discounts, bonuses and participation in promotions.

Benefits of PhunCoin:

  1. Phun is the only coin for all brands and loyalty programs. That is, buyers will be able to get Phun coins when they buy goods at one store and use them in other store loyalty programs.

  2. Brands are able to use personal data without owning them. Thanks to this, you don’t need to worry about compliance with a multitude of regulations from different jurisdictions and don’t waste time and resources to ensure the security of this information.

  3. Consumers retain full control over their digital identity, personal and business data.

# 5. IPwe: Patent licensing

IPwe features and benefits

The world's first Global Patent Register (GPR), which will allow market participants to unite, interact and communicate with each other without intermediaries and third-party regulation. At IPwe, you can easily and quickly evaluate patent portfolios, sell and buy patents, pay the appropriate fees and attract third-party services for patent valuation, raising insurance, and finance.

At the base of IPwe are two new technologies:

  1. Blockchain - responsible for the verity, security and data storage.

  2. Artificial Intelligence - responsible for evaluating patents, automating a significant part of the processes.

IPwe has been fully operational since December 2018. More than five thousand patents are transferred to the system. The first transaction between the participants of the platform was the sale of more than 100 patents worth $ 3 million. Transaction time has been reduced by 70%. The cost has also greatly decreased.

# 6. Securitize: Tokenization of corporate debt

Securitize Digital Securities Ecosystem Infrastructure

Blockchain platform and protocol for the issuance and management of "digital" securities. The company provides the basis for the issuance of "digital" securities (security tokens), including the services of the issuer, investor and support services. The Securitize protocol used by Digital Securities (DS) has the highest adoption rate in the market. So, among others, it was used to launch STO startups such as Blockchain Capital, Spice VC, Science Capital, 22x Fund, Cityblock Capital, and Augmate.

Key benefits of Securitize:

  1. The best accumulation of capital due to greater availability, ownership and reduced entry level for investors. To buy security tokens, you only need to connect to the network and the corresponding accreditation (depending on jurisdiction). Not everyone has such accreditation, but the pool of potential investors is still huge: in the United States alone there are more than 12 million accredited investors.

  2. Automation of the life cycle of "digital" securities. Smart contracts are able to automate the passage of KYC / AML, investor identification, verification of accreditation, escrow of funds, exchange of values, issuance of tokens, secondary sales, placement of a token on the stock exchange, contacting customer support, etc.

  3. Increased liquidity. Security tokens can be sold in unlimited quantities at a tremendous speed in accordance with the ATS license in the USA or MTF in Europe, as proved by the start-ups of OpenFinance Network, tZero, VRBex, Coinzoom, BnkToTheFuture and others. And unlike traditional sites, such exchanges operate 24/7, are available anywhere in the world and eliminate most of the middlemen.

  4. More complex investor rights. Smart contracts allow you to code complex economic and managerial rights, including voting, inheritance, distribution, refund, and the like. And without the participation of third parties as guarantors, proxies and / or intermediaries.

# 7. Lucidity: Advertising Fraud Prevention

Lucidity allows you to audit marketing indicators

Winner of the Blockchain Startup 2018 award from The Blocks Awards and Digiday Technology Award 2018 for the best marketing analytics platform. The goal of Lucidity is to prevent digital advertising fraud by creating a platform where end users of marketing services can verify the authenticity of marketing indicators with a single click. It is not difficult to guess that these data will be recorded and stored on the blockchain and only the participants of specific marketing campaigns and their partners will have access to them.

The project is being developed with the participation of IBM and is already being used by several major brands, for example, Toyota and GameStop. Its target audience is marketing agencies and their Fortune 1000 clients.

According to the report on the transparency of advertising and the introduction of the blockchain into this market, the use of Lucidity will allow to:

  1. Reduce by three times the level of losses that companies incur annually due to marketing indicators fraud. For Fortune 1000 companies only, this is an annual savings of over $ 10 billion.

  2. Minimize the inconsistency of marketing data presented to the customer with real data. Now these numbers are depressing, for example, the proportion of inappropriate clicks is 48%.

  3. To increase the level of market transparency, which will lead to an increase in the effectiveness of the average marketing agency and, consequently, an increase in their profit.

# 8. TigerTrade: B2B market for trade

TigerTrade creates a market for the sale of surplus branded items

International B2B platform for the implementation of excess retail stocks of branded items in emerging markets. Practice shows that many retail stores at the end of the season accumulate a certain amount of fashionable clothes, shoes, accessories and other things that are no longer popular (due to the change of season). At best, such things are in stock until the new season and then sold at a huge discount.

The project team suggests not to wait for the new season and not lose money because of this, but to sell the surplus in emerging markets. To do this, TigerTrade has launched a B2B market and a comprehensive TradeFlo platform for checking suppliers, authenticating goods, tracking payments and shipments.

So TigerTrade:

All this allows retailers in developed countries to receive lost profits, retailers in developing countries to get goods that are not completely out of fashion and sell them at reasonable prices to end customers in developing countries to buy new branded items at normal prices, that is, without 100–300% markups.

# 9. Connecting Food: Supply Chain Audit

Connecting Food is the first startup that not only tracks the movement of food along the supply chain, like the IBM Food Trust or VeChain Thor, but audits all actions in real time

French startup using blockchain technology to make the supply chain in the food industry more efficient by checking real-time specifications (geographically, organic, non-GMO, etc.).

This is the responsibility of the Live Audit function, created on the basis of research in the field of algorithm analysis and formal evidence developed by CEA. Live Audit checks and detects inconsistencies and then indicates the level of compliance: general, partial, or zero. All participants in the process, from the farmer to the end consumer, have access to compliance level information. To do this, simply install the application and check the product with a special bar or QR code. Very fast, affordable and efficient.

In addition, Connecting Food together with IBM is working on «network of networks» to create a single supply chain check algorithm for all IBM Food Trust-based solutions. This will give Connecting Food the opportunity to use their technology to test products sold by Walmart, Tyson Foods, Albertsons, Dole Food, Unilever, Kroger and other network retailers and food manufacturers.

# 10. Ferrum: Equipment leasing

Ferrum makes equipment leasing market global

A Canadian company that uses the blockchain to increase transparency and efficiency in equipment leasing. They work with enterprises in such sectors as agriculture, energy, transport, technology and construction, as well as with the public sector, including schools, universities, municipalities and hospitals.

Ferrum monitors and records all stages of the leasing life cycle, and also speeds up and cheapens all leasing business processes, saving money and time for all market participants. But not only, depending on the role, Ferrum users get other benefits:

  1. For tenants. Easy access to the global market, which makes it possible to choose from the maximum number of suppliers of equipment and leasing services. This increases the level of competition in the market, which in turn leads to lower prices and improved service quality.

  2. For landlords. Access to global markets, which makes it possible to provide services not to a limited number of consumers in a particular region, but to the whole world. Thanks to this, efficient landlords will receive new sources of financing and will reduce the time for finding new customers from several weeks and months to several days and even hours.

  3. For donors. The ability to provide financial services to a much larger number of potential customers, which leads to an increase in the volume of transactions and the number of transactions (i.e., donor profits). In addition, increased competition leads to lower risks for donors, since high competition leads to lower fraud.

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