With all the hype about blockchain, we sometimes forget that its application goes beyond just in the cryptocurrency space.
Today, let’s look at seven real-world apps built on the blockchain, and how they are changing the landscape of the industry they are in. Of course, Steemit is one of them, but let’s put the biased love aside and look at other verticals, shall we?
1. Medrec
Ask any patient who had to shift across different healthcare providers, and they will be the first to tell you how they wished they had a centralized platform where their doctors could access their medical records, without them having to repeat them again and again. This age-old problem is common for them, sometimes resulting in loss of medical data and causing them having to retake tests, which was time-consuming. That’s the problem that MIT’s own Medrec seeks to solve, ensuring data consistency of the patients in the blockchain. With Medrec, the patients’ history of medical conditions, past treatments and medications are already on the public ledger, giving doctor instant access to treat the patient immediately, rather than wasting time repeating tests.
2. Storj.io
If you look at your hard disk right now (yes, let’s talk about the ones in your existing laptops and desktops. Portable drives excluded), you will notice that you have unused space lying around. Sure, those are for emergencies, but let’s be honest, how often do you use these “emergency” spaces? How about renting them out? That’s what Storj.io is doing, allowing users like to you earn coins when you rent out your hard disk space. Powered by the blockchain, rest assure that your data is tightly encrypted, and only you have access to it. Decentralised storage also meant faster download speeds, reducing the need to extract your data from one central location.
3. Givetrack by Bitgive
Ever wonder if the money you donated actually reached the causes you supported? We’ve all heard of issues where the funds were stuck in bank accounts, or worse, gone into the hands of corrupted officials. Givetrack leverages on the power of the blockchain to track your donations around the world, so you can have the peace of mind that your contribute creates the impact it is supposed to.
4. Ubiquity
Recording and tracking property information can be troublesome to say the least. With multiple parties recording entries, not only will it results in duplication, but worse, inconsistencies and disputes over data. Furthermore, by introducing lawyers into the process, we are also unnecessarily increasing the cost of the transaction, because of the “middle-man” fees. Uniquity aimed to solve that, and because every transaction is recorded on the blockchain in an organized manner, not only does this ensure data consistently across all properties, but also at a shorter time, improving the effectiveness of the overall process.
5. Arcade City
Ever want to more control over your Uber, Lyft, Grab or any ride-sharing driver? As a driver, do you want that option, that freedom to choose your rider as well? Enter Arcade City, the ride-sharing taking the world by storm, which utilizes the trust component that blockchain provides, ensuring a better experience for both drivers and riders. Due to it’s peer-to-peer nature as well, drivers get to form “guilds”, which are operated by the drivers themselves. The service, since launched in August 2017, is already servicing customers in over 155 countries. Drivers are free to set their own rates, build their own recurring customer base, and offer additional services like deliveries or roadside assistance. Riders can review driver profiles in advance and choose the driver they prefer.
6. Ujo Music
If you talk to enough musicians, you will know they hardly make much, and that their music is more a passion project, rather than a profit one. It’s not because they do not want to make money from their works, but it’s just between the publishers, producers, studios and platform fees, in the end, there’s nothing much left for them to take from. Enter Ujo Music, one of the first few webstore for musician powered by the Ethereum blockchain. Dance artist RAC, aka André Anjos, launched his album EGO on Ujo Music, and said he actually made more money from tips than from album sales.
7. Open Bazaar
In the days of the old, barter trades are common. It’s decentralized, usually done without currency, and peer-to-peer exchange in it’s purest form. Of course, as time goes by, a central payment system came about, together with the introduction of currencies, and also transaction fees for these centralized service providers. The Openbaazar project aims to use the blockchain to turn back time, so that it’s possible to for us to use a barter system agreement, where both buyers and sellers would come to an agreement prior to the transaction, without the need of any platform fees.
These are just a few of the exciting companies out there leveraging on the blockchain to solve age-old problems. And because of the potential of the technology, it has enabled many companies to scale their products and services to heights previously unachievable with conventional techs. Xenchain.io is one of those companies who is combining personal digital identification with the blockchain, so any parties can seek the users’ permission before accessing the most updated, validated personal data. Adding a social scoring to the element simple improves upon the existing means of personal identification, such as facial recognition and documentations.
A little known fact is that the Global Identity & Access Management is valued at USD8 billion, with expectations to reach over USD20 billion by the year 2022. If you want a stake in that market, join the Xenchain token sale now. Visit www.xenchain.io for more info.
