Applications of Blockchain: From Environmental Protection to Supporting Small Businesses
From concept to practice
Tokenization is proving to be a viable new solution to some of the world’s pressing problems. A recent article published by Deloitte highlighted some of the exciting applications of blockchain technology. It illustrates blockchain beyond mere concept and shows how it can be used in practice. The author, Tiffany Ramsay, offers great insights on the utilization of blockchain technology towards the creation of positive social impacts in the areas of environmental sustainability and access to microfinancing.
The following examples listed in the blog showcase the creativity of blockchain developers when it comes to making the world a better place.
- Plastic Bank, a non-profit organization, uses a blockchain rewards system to clean up harmful plastic waste often found in oceans by monetizing the collection of plastic by locals in the unbanked regions of places like Haiti and the Philippines. Plastic waste can be exchanged for digital tokens, which can be used to buy food, water, and other essential goods.
- IBM’s use of the HyperLedger blockchain in its microfinance pilot program allowed it to issue more than 220 loans to support small business vendors in Kenya who were previously ineligible to be assessed for credit worthiness. IBM notes that blockchain enabled the transparent management of the lending process from application to receiving offers to accepting the terms to repayment.
Blockchain can tackle a seemingly infinite number of problems that exist today. Lowering the operating costs for small businesses is one of them. Finding ways to lower operating costs for small business owners is an important as many economies around the world are comprised primarily of small businesses. For owners, marketing is typically a key expense and can often overburden them. While the integration of 4 or more digital channels is known to be 300% more effective than traditional single or dual channel campaigns, the cost, skills, and time required to plan and execute a multi-channel campaign can be highly prohibitive. Even the best products and services need to be well marketed so that audiences know to buy them.
So how can multi-channel marketing be within reach for all?
Reveel is creating a decentralized media marketplace that uses the Reveel Token (RVL). The marketplace will allow any media owner to tap into a global pool of qualified resources to help them create media experiences for an infinite range of media applications. Previously inaccessible marketing goals will become within reach for companies of all sizes. Reveel will empower entrepreneurs and small businesses to produce effective multi-channel media campaigns that are impactful and affordable. Ultimately, enabling business owners to effectively promote their brand will support their operations and success. Learn how the marketplace will operate on RVL by reading the Token Mechanics section of our white paper.
