Blockchain is creating a buzz in how it can be used for implementing and securing digital assets. In this article we take a look at 21 blockchain examples and applications that are creating ripples in the world of technology.
Most of these examples below are good examples of smart contracts.
In this article we will look at various blockchain implementation examples and applications and use cases that are starting to make a mark in the way we compute.
Applied Blockchain – Full Stack Blockchain
Applied Blockchain is a full stack of blockchain solutions built over the past couple of years by their 8 in house full time developers.
They have built around 10 blockchain solutions in biometrics, wallets, enterprise blockchain adapters, a blockchain data cache for analytics and private, permissioned smart contracts.
Their target domains include bank and wealth management, trade, finance, property, aviation, recruitment and legal sectors.
Currently it is based out of Level39 Fintech Accelerator in Canary Wharf, London with global operations.
This is one of the best applications of blockchain technology.
Augur – Decentralized Prediction Platform
Augur is a blockchain technology use case that combines the magic of prediction markets with the power of a decentralized network to create a stunningly accurate forecasting tool – and the chance for real money trading profits.
Accuracy of prediction rests in the idea of the “wisdom of the crowd” which means that average prediction made by a group is superior to that of a prediction by an individual in that group.
Prediction markets are more accurate because each participant provides real-time predictive data using real money which acts to incentivize.
It is a decentralized platform built on Ethereum blockchain – which means no central servers that can be switched off.
Prediction market setup by anyone by asking a question. This person will be the market creator and will provide some initial funding for the market. In return receive half of all trading fees collected during lifetime of the created market.
Fees are set by users and relatively lower than traditional and betting platforms.
Augur relies on consensus based system and unique token called REPutation.
A “reporter” reports on events every two months and as an incentive receives half of all fees in the system multiplied by the percentage of REP own.
You can read more about prediction markets on blockchain.
Bitnation – Blockchain Implementation Example of Decentralized Borderless Virtual Nation
Bitnation is the world’s first Decentralized Borderless Virtual Nation (DBVN), a Blockchain Jurisdiction.
It provides the same services that traditional governments provide, however, Bitnation comes in where government support for services do not exist.
For example, in an interview to BitCoinMagazine, the CEO said that HBTQ and Polyamory communities may not have marriage services provided to them by the Government. But BitNation makes this possible which otherwise in a traditional setup may not be the case due to ideological reasons.
The platform is practical, financially feasible, can be efficiently integrated into our lives.
It is a community of like minded individuals aware of its political autonomy working towards a common goal. Bitnation provides opt-in core governance services like rule of law and security to citizens and non-citizen customers.
It uses a holocratic governance model which comprises of different entities with various degrees of autonomy – Core, Holons, Citizens, Laws, The Archipelago
Core: lead of holocracy and is responsible to manage the key infrastructure, including funds, wallets, etc.
Holons: These are like departments with varied degree of autonomy. Can be created by any citizen for profit or non-profit without any approval from Core. Citizens can finance them or work for them. Benefits from DBVN resources and infrastructure
Citizens: Human Beings and Artificial Agents, who can be part of one or several nations or not at all. Opting in or out of a nation is completely voluntary. Citizens receive dividend from the profit made by nations by being a part in building the nation.
Laws: Polylegal system is present, citizens are free to choose the code of law of their preference
Archipelago: Federation of different virtual nations, allies, embassies, ambassadors who promise to assist each other when possible and desirable
The services provided by BitNation includes the following:
– World Citizenship ID
– BITNATION Refugee Emergency Response (BRER)
– Bitnation Ambassador Support (BAS)
– BITNATION Citizen Security (BCS)
– BITNATION Education Network (BEN)
– BITNATION BinCard (BDC)
– BITNATION Space Agency (BSA)
Bitproof – Blockchain Technology Use Case of Electronic contracts
Bitproof’s platform named as SealX protects contracts from being tampered.
A paper contract is easy to tamper. So is a contract that is in electronic form.
SealX is an excellent blockchain example where a contract is put into a blockchain and this results in tamper proof documents.
A contract that has been signed by both parties are uploaded to the platform. Each party records a video acknowledging the content in the contract documents.
A certificate is provided once the contract is linked to the blockchain.
BlockVerify – Anti-counterfeit Platform
Another great blockchain example is BlockVerify which is being used in non-financial industry.
It helps by improving anti-counterfeit measures in different industries.
The platform identifies counterfeit goods. It offers an environment where it is impossible to duplicate products.
A global solution is provided where companies can register their own products and monitor the supply chains.
Among the goods that can be verified are counterfeit products, diverted goods, stolen merchandise and fraudulent transactions. It has been helpful in industries like pharmaceuticals, luxury items, diamonds, electronics, etc.
Blockverify works by labelling each product with a Block Verify tag. In the supply line, products are verified and the process is made transparent to the extend required or desired.The consumer purchases the product and verify whether the shipment is genuine or not.
Colu – Helping local economies grow
Colu aims at freeing local economies from the rigid control of the banks resulting in helping local economies blossom by simplifying transactions.
It covers almost anything from cars to concert tickets.
The platform creates a sort of digital ID for an asset and the encrypted token is passed on to the buyer.
The details of the transaction is stored on the blockchain which makes it secure. This token can be scanned easily using a QR code and can be stored on a phone or the computer.
Money can be loaded and currencies can be managed using Colu’s consumer app.
Colu aims at keeping the money in the local area since local currencies have positive effects on local economies leading to increased job opportunities and growth.
Everledger – Asset Protection
It has created a platform that is transparent and available on both public blockchain as well as private blockchain.
The platform is a global and digital ledger that tracks, protects valuable assets throughout their lifetime journey.
An asset’s defining characteristics, history and ownership is collected to create a permanent record on the blockchain.
This record can be used by various stakeholders across the supply chain pipeline to verify authenticity thus ensuring ethical trade.
Filament – IoT combined with blockchain
Filament is an IoT company that uses the blockchain implementation as a ledger to store receipts of payments for devices in the form of digital hashes in a decentralized manner.
An amazing example of blockchain combined with IoT, Filament’s ad-hoc mesh networks of smart sensors for industrial applications operate on the blockchain.
Their wireless sensor devices are called as Taps. They are capable of covering industrial areas with low-power autonomous mesh networks for data collection and asset monitoring.
Taps do not have a central network authority – their operation is decentralized.
Their design is such that they would be able to generate ad-hoc mesh networks in the absence of cellular or WiFi networks. This will enable bitcoin payments and enforce digital contracts.
An open platform for Distributed Sensor Transactions (DIST) is developed using blockchain that uses Bitcoin and Ethereum for transactions, Telehash for private communication), JOSE for smart contracts, TMesh for low-power mesh networking and BitTorrent for firmware and remote management updates.
Filecoin – Incentivizing Data Storage on Network
Filecoin is similar to bitcoin, however unlike bitcoin’s computation only proof-of-work, it includes a proof-of-retrievability component.
To give a short background, it is built on IPFS (InterPlanetary File System) which aims at adding decentralized permanence to data on the web. For example, currently if you need content, most of it first moves to the cloud and only after to your devices. This makes it inefficient, reliant on centralized third parties which is impossible when you are offline.
IPFS however makes it possible for the content to flow from computer to computer efficiently without dependence on connectivity.
Filecoin can be considered as a blockchain technology use case that incentivizes the nodes to store as much of the network’s data as possible by awarding them with currencies for storing them.
Files are added to the network by spending currency. This produces strong monetary incentives for individuals to join and work for the network.
In the course of ordinary operation of the Filecoin network, nodes contribute useful work in the form of storage and distribution of valuable data.
FollowMyVote – Empowering Secure and Transparent Voting
FollowMyVote is an example of blockchain being used to promote secure voting and ensure transparency into election results.
It has created end-to-end verifiable online voting software that is open source and revolutionary.
The voter (or user of the platform) downloads and installs the Voting Booth (software) and securely submits identity information for verification.
The voter also registers for the election he or she qualifies to vote in.
Once this is completed, the voter is authorized to cast his or her vote by both the ID verifier and registrar.
The voter then votes and submits his or her ballot to a secure blockchain based ballot box. This ensures ballot secrecy and protects his or her identity from being revealed by retaining anonymity.
In case the voter changes his or her mind, the vote can be changed anytime in the days leading up to the election. This is a flexible feature and the election officials can decide to either turn off or turn on this capability depending on the laws and election rules in place.
The voter can use his or her account to go into the ballot box and verify if their vote was cast as intended. He or she can even audit each ballot of the ballot box to confirm that the election results are accurate, while still retaining the privacy and security.
GetGems – Get Paid for being on Social Networks
GetGems is a social messaging app available on iOS and Android and built on the blockchain technology. It allows users to send and receive both bitcoin and GEMZ (native digital token).
Users of the app get to earn GEMZ by referring friends to help grow the network. Additional GEMZ are distributed to users daily with users receiving a part of this amount proportional to the number of users they have invited to the network.
Users are also incentivized for viewing in-app ads.
GetGems is a game changer in the world of social networks because it incentivizes users for helping build the social network they are on. The current lot of social networking sites do not incentivize users.
In a way GetGems is a brilliant example of bringing cryptocurrency to the masses.
The option to view promoted content tailored to the users’ interest is a game changer because using social messaging platforms to receive, send and earn digital currency keeps the social network in the users’ control.
Monegraph – Licensing of Digital Works
Monegraph is a platform built on blockchain technology that makes it easy for digital creators of all kinds to construct licenses for commercial use of their digital work.
The platform enables licensing, payment processing, media handling and distribution of work in a synchronized manner. This ensures that you have everything you need to help your business grow.
Buying and selling licensed digital media is done directly through the platform by bringing artists, designers, photographers, collectors, publishers, advertisers, brands together.
Monegraph currently manages all the blockchain transactions. Users registered here do not have to own bitcoins or keep track of any private keys at present.
However the developers have confirmed that in the future, users will be provided the ability to export blockchain records for the license contracts if users want to self manage the rights licensing process themselves.
Onename – Identity Creation on the Blockchain
Onename is a blockchain startup that makes it easy to register for a blockchain ID and manage it. It has developed a product named Passcard which creates a secure and trustless identity.
Users can create a personal or company profile using the product and share their blockchain ID on their website, social media profiles and business cards.
Developers can also integrate blockchain IDs to offer password-less logins and secure messaging.
Onename plans to use it as a digital key to your identity by replacing passwords ranging from your house to your password and also driver’s licenses.
You can use it in the near future to enter your office or apartment.
The technology behind Passcard is Blockchain Name System (BNS) which offers more security as there are no trusted third parties or servers.
In short Passcard is an excellent blockchain example being used to manage identity securely.
With a blockchain ID, users are in control of their online identity.
Otonomos – Blockchain Example of Incorporating Businesses on digital distributed ledger
Otonomos is a blockchain startup that helps users incorporate their businesses on digital distributed ledger. This ensures a paradigm shift from traditional processes.
Users can fill up a form to incorporate their company on the blockchain. Using the platform, they can fund and govern their companies allowing for disintermediation and reduction in friction.
On the platform you can transfer shares peer-to-peer and create a market in your equity, including inviting new investors, get funding from the crowd and remunerating collaborators.
A number of governance-related operations like boardroom voting are automated.
Potential users of Autonomos can include venture capitalists, financial vehicles, special purpose vehicles, crowd funding platforms, etc.
Companies incorporated through Otonomos have full legal status and they can IPO on day 1 as the platform enables P2P exchange of private company shares.
This ease of incorporation coupled with ease of raising funds and ease of governance makes it an incredible example of blockchain technology with a great potential in the near future.
ShoCard – Identity Management
ShoCard allows individuals and enterprises establish their identities with one another in a secure and verified way.
This enables quicker transaction – from login to sharing of personal information to completing a financial transaction.
ShoCard ID can be created using the app or an organization can build into their existing apps the technology using the SDK ShoCard offers.
The user initially downloads the app to create a ShoCard ID. The app extracts information from the valid, government issued ID that the user has provieded.
Once the user confirms the data and self-certifies, a passcode is created for security. This information is encrypted using industry standard private/public key encryption techniques and saved on the phone.
The app then hashes and digitally signs the data for enhanced security. This is then written onto the blockchain by the ShoCard’s servers.
This data is not available to either ShoCard or any third party without the user sharing information first.
When the user decides to share personal information, an identity verification handshake with the third party is initiated via the blockchain.
The information is placed in a fully encrypted data envelop. This information is opaque to all parties (including ShoCard) except the intended recipient who can decrypt.
The end result is a guaranteed and verified transaction between user and enterprise.
Storj – Decentralized Storage on the Cloud
Pronounced “Storage”, Storj is the first decentralized, end-to-end encrypted cloud storage that uses blockchain technology and cryptography to secure your files.
This is basically cloud storage platform that neither can be censored nor monitored. On top of that it does not have downtime.
Files are encrypted, shredded into little pieces and stored in a decentralized network of computers around the globe. Only the file owner has complete copy of the file.
Before the file is uploaded, the file is split up and encrypted and stored on the client side.
This makes it faster than traditional cloud storage platforms because multiple machines are serving the file simultaneously.
It also makes it cheaper because spare hard drive space is being rented instead of paying for a data center. Users rent out their unused hard drive space and earn Storjcoin X (SJCX), a cryptocurrency similar to the blockchain.
This is a trustless solution as there is no third party involved with the files.
Synero – Incentivizing Content Creators and Consumers
Synero aims to create tools that enables content creators to monetize their works without having to worry about advertisement real estate. At the same time, followers of the content owners will be rewarded for getting the word out.
It seeks to decentralize social networking and transfer power to the two parties – content creators and content consumers.
This has led to Synero starting its work on Technology Stack RChain which is scheduled to go live in Q4, 2017. It is a four layer system consisting of the following (from bottom-up):
– New Blockchain Technology called RChain or Blockchain 2.0
– Distributed Storage and Content Delivery Protocol “SpecialK”
– Programming language for smart contracts and distributed apps called Rholang
(Reflective, Higher-Order process Language)
According to Synero, RChain would be cheaper, faster and more scalable over existing blockchains. This would ensure mission critical support to a social network that aims to disrupt incumbent players like Facebook and Twitter.
thingchain (Skuchain) – B2B Finance
Skuchain builds blockchain based products for B2B trade and supply chain finance.
It has developed a solution named BRACKETS – that facilitates lending by financiers against PO’s, invoices, inventory assets and payment obligations.
The solution allows the resulting loans to become collateralized assets and provides a real-time, reliable view of transaction state, ensuring significant transparency for all participants.
This leads to a more trustworthy and stable supply chain ecosystem without the need of a third party like banks.
Tierion – Data Collection and Storage from Devices
Tierion is a cloud platform powered by the blockchain. It makes data collection and storage from web and mobile applications easier through creation of a data store and sending of data via REST API or HTML forms.
For every record a blockchain receipt is generated which proves that the data is recorded in the blockchain. Also anyone with the receipt can verify the content and time stamp of the record.
Tierion can also be connected to over five hundred online services including Gmail, Slack, Mailchimp using Zapier.
Tradle – Simplifying and Securing KYC through blockchain
Another example of blockchain is Tradle that is simplifying and securing KYC requirements.
Trust in Motion (TiM) is the app that allows users to start a secure line of communications and go on the record to confidentially exchange documents, vertications, and agreements.
The records are stored securely and irrevocably with global permission-less access and high resilience to hackers, spying and take down demands.
The users can send required verification documents to banks without reliance on postal services as is the norm today.
Verisart – Certifying Artworks
This startup uses distributed ledger technology to certify and verify artworks and colleactables in real time.
It aims to build a permanent, decentralized ledger for art and collectables.
Currently there is an app available on iOS which artists and collectibles can use to assign certificates of authenticity to works of art.
The Last Words on Blockchain Examples and Applications
A lot of innovation is happening as organizations are taking active interest in collaborating with creators of blockchain related solutions and platforms.
Do you know of any other blockchain startups, platforms or solutions? Let us know in the comments section. What are the other ideas that we can implement on the blockchain? Feel free to share.