Now that the Bitcoin logo is now almost as recognizable as Coca-Cola or Johnny Depp, is it time for enterprises to start taking blockchain technology seriously?
If you are asking this question you might already be behind. For the progressive few, the power of a unified ledger underwritten by an evenly distributed network of systems has already crept its way into a variety of different industries both locally and around the globe.
Already the technology has been ground-breaking, here are five companies and industries who are using blockchain to do things differently:
1. Energy Sector – Power Ledger
Power Ledger is a peer-to-peer, blockhain-based energy trading platform where renewable energy tokens can be sold between buyers and sellers without a middleman.
A Perth based startup, Power Ledger aims to transform how renewable energy is bought and sold in a way that bypasses the traditional grid network (a network often cited as being renewable energy unfriendly).
The energy itself is digitised through tokens, which are called “sparkz”, and thus used currency of buying and selling energy.
In laymen’s, instead of the usual 60-80 day wait time of receiving money for sending energy back to the grid, the exchange happens instantly and is all documented via the blockchain.
2. Real Estate - Propy
With Real Estate now being a global marketplace, real estate start-up Propy is looking to take the bureaucracy out of international property purchasing by creating a crypto-currency which they will use to exchange assets.
The blockchain based technology has the vision that all jurisdictions will adopt the Propy Registery as their ledger of record. This could have a major impact on how property is exchanged globally and put a smile on the face of anyone who has been through the process and slightly deterred.
3. Digital Media – Kodak
That’s right, Kodak is back and relevant to 2018. In collaboration with WENN digital the company has launched to blockchain platforms KODAKOne and KODAKCoin.
KODAKOne will be an image rights management platform which would help photographers register new work and archive their existing work.
KODAKCoin will be positioned as a photo-centric cryptocurrency which will allow photographers and agencies to manage their image rights and have more control about when they will be used.
The announcements of the two coins has doubled their share price to US$6.80. Prior to this they had been on a free fall as they bottomed out at US$3.10 on the 29th December.
4. FSI (P2P Loans) – SALT
SALT aims to take advantage of the burgeoning asset class that is crypto-currency by creating a peer-to-peer lending market, which allows you to guarantee loans via your crypto-assets.
A first of its kind, the platform also looks to centralise lending in general and utilising blockchain technology in order to make this happen.
5. Fashion and Retail – Provenance
As the tagline says, “every product has a story”, Provenance enables consumers to track exactly where elements of the clothes they have purchased have been made.
The blockchain technology enables customers to take a unique identifier and track where the clothes have been produced. Again the technology was sought out to overcome a challenge within an industry where the customer is keen to know more about where and how their products are being produced.
The Project Provenance Collective #PPCO is the hashtag that the group is using to promote their innovation, with consumers being encouraged to share where and how their goods have been made.
For the industry, this is a great opportunity to qualify the quality of their materials and production, and really assists to add a genuine story to the product.