Best Startup Ideas Using Blockchain Technology in 2020

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Aided by cutting-edge, modern technology, startups all over the world are changing life as we know it with their innovative ideas and superior user experiences. A startup organization, briefly known as a startup, is an emerging, independent business venture that aims to solve a problem through viable yet out-of-the-box solutions. Startups can include all sorts of companies ranging from minuscule garage operations to tech-giants such as Facebook. One common characteristic among all startups is the element of change. No matter how big or small, all startups strive to stand out and produce something brilliant and unique. This innovation factor is achieved with the help of technology. Apart from a thought-provoking idea that sets your solution apart from others, a scalable and practical business model is necessary for the success of any startup. One must need expert human resources for formulating a plan to define your business vision. Before you make countless efforts for startup it is better to dig deep into business studies- you can click here. You can also devise the optimum strategy for sustaining and promoting your startup’s business health using blockchain technology. Moreover, you can research the existing resources to gauge the feasibility of using blockchain technology for fulfilling your business needs.

What is Blockchain Technology?

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Blockchain refers to a secure, publicly available digital record or ledger that stores data collected through multiple sources. The information is entirely transparent, decentralized, and immutable. It is also not owned by any single organization or establishment, making it even more trust-worthy and accountable. All of these qualities of the blockchain technology make it non-manipulatable and increase the integrity of the information tremendously. These characteristics make this technology ideal for use in multiple industries, including finance, healthcare, food and beverage, and real state, etc. Blockchain technology initially gained fame due to Bitcoin, a form of digital currency it was developed to be used for. However, startups across the globe have caught upon their potential uses. The technology has especially been turning heads in the financial technology or fintech sector as it allows a safe and secure transfer and exchange of funds using encrypted monetary units.

The Use of Blockchain Technology in Startups:

The level of security and encryption provided by the blockchain technology, along with its transparency and accuracy allows it to be an integral part of a wide range of operations. Not only this, but blockchain technology also enables secure and anonymous transactions leading to greater accountability. Most platforms operate using a multicurrency wallet feature that provides safe and easy access to your funds. Startups are embracing this innovative technology left and right to change the world around us. A few notable startups that are standing out amongst their competitors and disrupting traditional systems using blockchain technology include the following:

BitClave:

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BitClave is a leading-edge data storage and web search system that leverages blockchain technology to utilize your personal data safely and securely to earn money. It also allows you to gain control over your private information by deciding who can view and access it. In this age of connectivity, people are often paranoid about the magnified visibility of every action they take online. BitClave smartly counteracts this fear by encrypting sensitive information and enabling users to derive value from their data on their terms. It operates through multiple programs, including LimitlessReward, Desearch, Vault, and MatchICO.

Goeureka:

Goeureka is a frontrunner in the travel tech industry that utilizes blockchain technology to enable hotels to deliver world-class service to travelers by connecting with them directly. This Singapore-based hotel booking platform offers complete transparency to its users by helping them choose suitable accommodation from over 400,000 options around the world. The application aims to cut costs and operate with zero commission using real-time blockchain technology data.

FarmaTrust:

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FarmaTrust is a revolutionary startup that is using blockchain technology to improve the pharmaceutical and healthcare industry by tracking drugs throughout the supply chain system, eliminating fake or counterfeit pharmaceuticals, and improving access to genuine medicines to ensure patients receive authentic products. The services also include reducing costs and removing substandard or low-quality products from the supply chain. The platform has also expanded to include personalized healthcare services, including cell and gene therapy based on bespoke client data.

ODEM:

Another startup by the name of ODEM or On-Demand Education Marketplace is transforming the way knowledge is transferred from teachers to students by paving an accessible pathway for affordable and accessible learning opportunities. This decentralized educational platform utilizes the power of blockchain technology to put students directly in touch with top educators all over the world. It aims to improve employment opportunities by allowing its users to acquire desirable skills. ODEM offers multiple short courses and programs that enable students to forge their own career paths. It also provides customized teaching plans, along with AI-based tests and assessments.

PARKGENE:

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We all have known the struggle of finding the right parking spot at one point or another in our life. The people at PARKGENE came with an innovative way to find a solution to this exact problem by using the power of blockchain technology. It utilizes real-life data to connect parking spot owners and the drivers on the hunt for them. The application also enables you to navigate to your chosen parking spot safely. It operates using a safe financial payment system, which also allows you to exchange your GENE points with other cryptocurrencies.

Steemit:

In a time where every next person is a social media star or an influencer, platforms like Steemit are gaining wide popularity. Simply put, Steemit is a social media platform or blogging site that pays its users to create and curate content. It uses blockchain technology to develop and distribute its unique digital currency called STEEM to its users. This cryptocurrency, in return, can be exchanged with actual money. The best part about this website is that it is entirely free. It allows people from all over the world to register without any sign-up fee. You can start creating content in a matter of minutes, and if your posts get “upvoted,” you will be rewarded.