If you combined blockchain with AI, what you got would probably laugh its head off. Despite blockchain and Bitcoin both being declared DOA a hundred times over, both are alive and kicking up a storm. Who would have guessed that blockchain technology would reach $13.96 billion by 2022, but some say it will.
Blockchain startups are to blame, or to be thanked — depending on which side of the coin you are on. Those who got some Bitcoin early are now wealthy. For those who doubted, the very word ‘Bitcoin’ leaves them sour. Investing in blockchain might not have the same ROI, but startups across the globe are not taking any chances.
From blockchain incubators to crowdfunding campaigns that raise millions, tech startups are cracking the enterprise blockchain market wide open. Big tech might drive the big numbers, but it’s the new players that are driving the excitement.
In this article, we look at 17 industries being transformed by distributed ledger technology:
- Healthcare
- Insurance
- Real Estate
- Supply Chain
- IoT (Internet of Things)
- Logistics
- Banking
- Finance
- Fintech
- Identity
- Energy
- Retail
- Smart Contracts
- Ethereum
- Legal
- Music
- Food
We also take a peep at 3 blockchain startups in each industry that are worth watching toward 2019.
Here we go.
Blockchain Healthcare Startups
BurstIQ, Inc.
BurstIQ, Inc. offers a health data platform that combines the security of a blockchain, the power of big data, and the processing advantages of AI.
Winner of the prestigious Red Herring award in 2018, the HIPAA- and GDPR-compliant platform links providers, digital health B2B services, pharma, insurers, government, consumers, and developers through its blockchain platform.
Shivom
Shivom aims to create the world’s largest DNA database. Genomic data is soon to be big business, and Shivom wants to help individuals manage their own information. The startup offers customers the tools to share their DNA data with the emerging genomic marketplace — whenever and however they choose.
Bodyo
Bodyo hopes it’s health pods will soon be a common sight in shopping malls, gyms, and even supermarkets. The self-contained units measure blood pressure, blood sugar, height, weight, fat mass, muscle mass, bone density, and hydration.
AI software analyses of user data can be valuable in early diagnosis of disease, especially when shared with healthcare providers.
The Bodyo can exchange data with over 50 of the most popular wearable fitness IoMT devices on the market.
Blockchain Insurance Startups
Nexus Mutual
Nexus Mutual is a risk-sharing platform that allows users to avoid standard insurance companies. The company makes it clear that the service is not insurance. Instead, it is a user-managed alternative, where users decide which claims are valid.
Nexus Mutual uses smart contracts to manage claim decisions and processing.
Fidential
Fidential provides a trading marketplace for life insurance policies. Users can sell their policies, buy policies from other users, or just store all of their policies in the blockchain.
Fidential offers a secure solution for those interested in treating insurance policies as commodities.
B3i
B3i, or the Blockchain Insurance Industry Initiative, is a blockchain trading platform for the insurance and reinsurance industries. A consortium of international insurance companies are already onboard, including Munich Re, Swiss Re, Zurick, Allianz, Aegon, and others.
If B3i realizes its vision, insurers, customers, and industry partners will enjoy improved efficiency, higher quality, and faster insurance transactions, thanks to the power of its distributed ledger platform.
Blockchain Real Estate Startups
SafeChain
SafeChain believes real estate transactions should be fast and secure. By verifying buyers’ credentials nearly instantly, SafeChain reduces the growing fraud problem faced by the real estate industry.
The company’s first product, SafeWire, helps title agents handle transfers using distributed ledger technology.
The company boast a growing list of partnerships.
Propy
Propy is a real estate marketplace that uses blockchain to facilitate real estate purchases.
With Propy, traditional real estate transactions can be performed faster and with less risks. For those who prefer to buy their next chateau or office building with cryptocurrency, Propy is crypto-friendly.
The company current has more than 9,000 properties listed.
BrikBit
BrikBit describes itself as the first blockchain-based ecosystem capable of facilitating entire operations for the real estate industry.
The platform runs on the LISK blockchain, and will begin its ICO in October 2018.
One thing, in particular, makes BrikBit unique. Each real estate project can exist within its own blockchain, as a BrikBit sidechain.
Blockchain Supply Chain Startups
BlockVerify
BlockVerify offers a complete solution to supply chain fraud. The startup endeavors to be the supply chain security solution for companies around the globe.
The platform offers customers tools for preventing counterfeit products, diverted or stolen goods, and fraudulent transactions.
Currently, BlockVerify has use cases in pharmaceuticals, diamonds, electronics, and luxury goods.
Omnichain
Omnichain offers no surprises. What they do offer is a robust, user-friendly blockchain platform for managing your supply chain.
All the features you’d expect are there: easy integration, simplicity, flexibility, security, automation, plus a whole bunch more.
Also included are powerful tools for analyzing your supply chain. End-to-end analytics help track your inventory, forecast demand, and even anticipate the need for storage space.
If you were to design a common-sense, just-what-you-need supply chain blockchain, it would look pretty much like Omnichain.
CircularTree
CircularTree is not just another supply chain DLT platform. “Sustainability” and supporting the “circular economy” are woven into the core of their business model.
Currently, the company has two products: HazChain and Project SustainBlock.
HazChain makes hazardous chemical data available to the entire supply chain. By placing verified chemical data in the blockchain, HazChain makes it easy for participants at every stage to be in compliance with the chemicals they use.
Project SustainBlock supports iPoint in providing supply chain traceability for Conflict Materials. The goal is to improve conditions for mines that operate in high-risk conflict regions. Proving that such mines operate responsibly is the first step in building a sustainable supply chain for the minerals they provide.
Blockchain IoT Startups
Filament
Filament products enable industrial and enterprise equipment to process data on a blockchain.
The Blocklet™ USB interface provides a hardware interface between devices and the Internet through customers’ computers. Blocklet™ software provides encrypted chain-of-custody at every stage of the IoT data stream.
Xage
Xage provides a decentralized security solution for distributed assets. In other words, they help secure IoT infrastructures.
Xage offers all the features you would expect from an industrial security solution. Automated security policy enforcement, role-based access control, tamper-proof access credentials, and group policies are part of the bundle.
Xage serves the transportation, utilities, manufacturing, energy, and building management industries.
TWO IoT
TWO IoT focuses on providing IoT solutions to the waste-management industry.
By enabling waste bins to report the level of their contents to a blockchain, waste-management companies can ensure bins are full before sending a truck to empty them. Dublin Airport reports a reduction from 1,200 bins being serviced per day to only 93.
Since TWO IoT data is stored on a distributed ledger, real-time access is only a click away.
Blockchain Logistics Startups
CargoX
CargoX made history with the world’s first blockchain Bill of Lading.
The company’s flagship product, Smart B/L™, enables fast, secure, and reliable processing of Bills of Lading from anywhere in the world.
The CargoX API allows companies to integrate Smart B/L™ with existing business software.
ShipChain
ShipChain provides end-to-end traceability for the logistics industry.
The ShipChain platform runs on the Ethereum backbone, making it easy to incorporate smart contracts into your logistics processes.
An API enables integration of ShipChain with existing logistics software.
PAKET
PAKET is a non-commission logistics platform that offers transparency in logistics relationships.
By eliminating a central authority, PAKET enables parties to exchange physical value between themselves efficiently and economically.
Blockchain Banking Startups
Bitt
Bitt provides central banks and other financial institutions white label DLT banking products.
The Bitt platform provides cross-border remittance and settlement solutions, digital transformation of currencies, and inter-central-bank digital transfers.
In a nutshell, Bitt enables banks to harness the power of blockchain technology. This makes transacting business with peers and customers safer, faster, and more efficient.
Stellar
Stellar connects banks, payment systems, and people. This DLT platform facilitates the transfer of money, even across borders, with transactions settling in 2 to 5 seconds.
Transactions on the Stellar platform cost a fraction of a cent — significantly less than most current payment solutions.
BABB
BABB aims to be the global bank for the microeconomy.
Once BABB receives its banking license, users will be able to open a bank account within the decentralized BABB blockchain.
BABB has something for everyone, including individuals, businesses, developers, and central banks across the globe. BABB had its first round token sale in January 2018, with the second round planned for 2019. In-between, the BABB team has plenty of benchmarks planned.
Blockchain Finance Startups
Debitum Network
Debitum Network is a blockchain-based lending platform that facilitates loans and investments. Both fiat and cryptocurrencies are accommodated.
Risk assessment, insurance, and debt collection, loan applications, and investment options are all handled on the blockchain. Transactions are handled quickly and securely, thanks to the latest DLT technology.
Omisego
Omisego aims to facilitate banking services without the banks.
The Ethereum-based platform enables end users to conduct real-time P2P transactions. Virtually any transaction one might conduct through their bank, they can do on Omisego.
From payroll deposits to B2B commerce to complex asset management functions, Omisego can facilitate a wide range of financial transaction with the speed and security of blockchain technology.
TradeIX
TradeIX makes possible the transfer of funds, assets, and credit around the world.
Winner of the “Best Innovator In Global Trade Award at the Trade Finance Excellence Awards” for 2017, the API-driven platform has been busy building B2B financial relationships around the world.
The company describes itself as a “network of networks” for global trade finance.
Blockchain Fintech Startups
Rate3
Rate3 provides a blockchain platform companies can use to tokenize their assets.
Monetary units, loans, insurance policies, or most anything of value can tokenized and placed in the Rate3 blockchain. Once there, smart contracts can be used to automate processes, transfers, and other actions.
Rate3 offers Ethereum-based tokens or Steller assets, depending on whether you need to maintain a unified identify across blockchains, or you want lower transaction costs.
CULedger
CULedger started out as a cryptocurrency exchange, but then had bigger ideas.
The startup initiative is now in the middle of a pilot program to verify the feasibility of blockchain technology for credit unions.
The organization’s website suggests the platform may well be used for other financial processes in the future.
Equi Capital
Equi Capital may be new, but it has managed to do something no other blockchain startup has managed to do. It has sparked the interest of Apple’s Steve Wozniak.
The startup aims to disrupt the traditional venture investment market by making it easy for the crypto community to invest.
According to Wozniak, the startup plans to open shop in Malta in November 2018.
Blockchain Identity Startups
Nuggets
Nuggets offers security, anonymity, and control when making purchases online.
The blockchain e-commerce platform uses biometrics, so you have no passwords to remember or to be stolen. Your ID, payment information, and purchase history are encrypted and stored in the blockchain. Even Nugget can’t get at your data, unless you choose to share it.
A major advantage for businesses is reduced liability, since you don’t have access to customer credit card information. Customers are verified and their information tokenized, so you get your money, without the risk of standard P.O.S. systems.
Nugget even donates a portion of transaction fees to charity, so everybody wins.
Civic
Civic also uses biometrics to verify the user’s identity, but applications are not limited to online purchases.
With Civic, your personal information is stored in your Civic App. You can use your app to access financial, medical, or social resources.
Civic’s Secure Identity Platform (SIP) also enables users to verify their identity at hotels, airports, and other places where ID verification is required.
Authenteq
Authenteq is another ID security blockchain platform.
Authenteq uses AI-driven facial recognition to compare the user with their government-issued photo ID. Their multi-step verification process when signing up makes faking an ID virtually impossible.
This startup already claims 150,000 verifications, and is accepted in 191 countries.
Blockchain Energy Startups
LO3 Energy
LO3 Energy taps the power of the blockchain to create localized energy marketplaces.
Prosumers and consumers transact energy sales and purchases on local microgrids.
Energy use, load balancing, and price negotiations are all managed through the permissioned distributed ledger.
Greeneum
https://www.youtube.com/watch?v=OTfBwsDffec
Greeneum uses distributed ledger technology to incentivise green energy production and usage.
The blockchain platform enables P2P energy trading of green energy. Communities now have a P2P platform for use in developing renewable energy sources. And data can be easily shared between green energy stakeholders.
In short, Greeneum is the go-to place for individuals, communities, and energy companies interested in growing the green energy economy.
ImpactPPA
ImpactPPA ties together microgrid power producers, smart meters, and consumers through a blockchain-based mobile app.
Producers and prosumers in over 35 countries create, store, and deliver power. Smart meters at consumers’ locations monitor usage and report it to the blockchain. Consumers use the mobile app to purchase and pay for the energy the use.
ImpactPPA allows investors, project developers, service providers, governments, and utility companies to pre-pay for energy, which they then resell to their customers.
Blockchain Retail Startups
Lolli
Lolli rewards shoppers with bitcoins as they shop at participating retailers.
The blockchain-based rewards platform uses a browser extension to track purchases. Whenever the user makes a purchase from an affiliated retailer, bitcoins are deposited into the user’s Lolli wallet.
Users can earn up to 30% back in bitcoin, and no banking information is required.
Nearly 600 top brands have signed on to reward Lolli customers.
Beam
Beam brings the power of blockchain technology to payment gateways in the UAE.
To make a fast and secure payment, just tap your phone on your retailer’s “Beam Terminal” P.O.S. system, and your payment is made. From supermarkets to petrol stations to restaurants, Beam Terminals are increasingly available across UAE.
Beam purchases qualify for instant discounts up to 30%.
Shopin
Shopin gives shoppers control of their personal information, while helping retailers target customers more effectively.
Using the Shopin app, each shopper can create their own profile, set their shopping preferences, and decide who gets to see their purchase history.
Customer information stored on the Shopin blockchain is shared with authorized retailers, who then deliver AI-powered product recommendation.
Retailers win by getting to know their customers better. Shoppers win by receiving highly relevant product suggestions, along with incentives and rewards.
Blockchain Smart Contracts Startups
SMRT
SMRT launches in Q4 of 2018. When they do, they will offer à la carte smart contracts for startups and small businesses.
SMRT will make using smart contracts as easy as picking one that fits your needs and inputting your information.
Users can pick smart contracts for business formation, protecting intellectual property, trading, and more.
Zilliqa
Zilliqa has a simple goal: make blockchain mainstream.
The Zilliqa blockchain platform enables developers to create marketplaces, exchange mechanisms, peer-to-peer trade platforms, games, and more.
While Ethereum can currently process only 15 transactions per second, Zilliqa can blast through 2,828 per second without bottlenecking.
Zilliqa already has an impressive array of partners and customers. With 21 team members and 8 advisors onboard, Zilliqa is serious about capturing this nascent market.
Treon
Treon has its sights set on transforming the $5 trillion utilities market using blockchain technology.
Using the Treon dashboard, billions of people across the globe can pay their utility bills using one application.
Not only can Treon simplify paying bills, but it can also provide users with valuable data. Amount due, service usage, late notifications, and other information is available at your fingertips.
Treon is currently in the 3rd and last phase of its ICO.
Ethereum Blockchain Startups
Bancor
Bancor allows users to easily convert their cryptocurrencies from one type of token to another. In the blockchain business, that’s called a liquidity network. The company’s founders call it profitable.
What makes Bancor unique is how exchanges are made. Bancor makes possible exchanges executed by smart contract. The elimination of an intermediary results in lower fees than with typical exchanges.
In 2017, Bancor raised record-breaking $153 million in three hours during its ICO.
Consensys
Consensys hopes to become the global decentralized network for people, businesses, and the planet. By the looks of it, they are off to a good start.
Consensys venture studio supports entrepreneurs and developers around the world who want to grow the Ethereum platform. The Consensys academy endeavors to increase the knowledge base. Their consulting arm assists in development of private or public DLT solutions.
Ambitious initiatives, coalitions, and partnerships underpin Consensys’ efforts to build the global blockchain ecosystem.
Augur
Augur is one of the most interesting startups we have seen. This open source, user-owned platform is all about forecasting.
From political outcomes to the weather, if you can bet on it, Augur can help you make money on it.
Users can buy and sell shares in an event, and reap the rewards when accurately predicting an outcome.
Perhaps, Augur is just a game-of-chance platform wrapped in a blockchain, but it sure is a cool concept.
Blockchain Legal Startups
Legaler
Legaler offers a secure online video chat platform for attorneys.
Features include end-to-end encryption, file sharing, messaging, and screen sharing.
With Legaler, attorneys can meet, share files, and collaborate within a secure environment.
The Australian startup wants to ultimately allow users to develop legal applications on the Legaler blockchain. An online app store is also in the works.
Openlaw.io
Openlaw.io enables attorneys to easily execute legal agreements online using smart contracts. Converting existing agreements to smart contracts, or creating new ones, is easy using the Openlaw platform.
Creating your own smart contracts is as easy as adding Legal Markup language to an existing MS Word document. Soon, PDF files can be converted, as well.
Openlaw bridges gap between smart contract technology and attorneys. No coding knowledge needed!
Integra Ledger
Integra Ledger offers the legal industry a versatile set of tools built on a blockchain.
Integra Wallet is the user interface for accessing your data in the Integra Ledger blockchain.
Smart Documents can be created, with easy integration with Microsoft Office, Adobe Acrobat, and Thomson Reuters Contract Express.
Email Encryptor integrates with email software to encrypt email messages. Since messages are processed on the blockchain, they are protected by encryption keys.
Document Version Control takes advantages of the immutable nature of DLT. Revisioning documents can be done easily, with a permanent record of every change.
Blockchain Music Startups
Choon
Choon is more than another music streaming platform. It is also a digital payment ecosystem for artists, built on a blockchain.
Through Choon, music lovers get to hear great artists. And artists get paid in cryptocurrency for sharing their music.
Still in the beta stage, Choon hopes to perpetuate the music industry by solving one of its most fundamental problems — getting artists paid.
Whether Choon makes it big, or falls short of being the next big thing in music, it sets the tone for what music distribution must become.
Audius
Audius replaces traditional music distribution and music rights management systems.
The DLT platform creates date- and time-stamped records of artists’ works. Attribution is instant and immutable.
Creators get paid in real time as listeners enjoy their content. How they license their work is up to them. They can choose to use a pre-existing license, or create their own.
The company has some heavy weights advisors, including Greg Hazel, chief architect at Bittorrent, and Bing Gordon, co-founder of EA Games.
Audius secured $5.5 million in Series A funding — which gave them something to sing about.
Tracer
Tracer lets other startups squabble over who can build the best music streaming/rights management/artist compensation blockchain. They have something else in mind.
Tracer targets the entertainment ticket industry, with blockchain-based solutions sure to transform forever how we buy and sell tickets.
For the first time, promoters, ticketing companies, and artists can set prices not only on initial ticket sales, but also on resales. Whether tickets can be resold, for how much, and what happens to the profits are all governed by blockchain policies.
Since the history of each ticket is tracked through the Tracer blockchain, fraudulent tickets become a thing of the past.
Food Blockchain Startups
Ripe.io
Ripe.io uses the power of the blockchain to unite food producers, distributors, and consumers.
From IoT-enabled farms to the grocery aisle or restaurant kitchen, Ripe.io is there to ensure the freshness, quality, safety, and origin of the food we eat.
In a pilot project, Ripe.io used its blockchain to track tomatoes from Ward’s Berry Farm to their ultimate destination — Prudential Center in Boston.
The ultimate goal for Ripe.io is not simply creating a blockchain for the food supply. Its founders also invision solutions that let farmers, distributors, and consumers access that data in real time.
FoodCoin
FoodCoin makes no bones about what it plans to do. The startup’s website describes it as a blockchain ecosystem that will serve the global marketplace.
FoodCoin invites farmers, food producers, logistics companies, regulatory authorities, distributors, and restaurants to join its ecosystem.
The company’s website includes a wealth of information on the company’s capabilities and plans for the future.
With all FoodCoin offers, it is hard to imagine a startup better prepared to create a global DLT ecosystem for the food industry.
SynchroLife
SynchroLife combines blockchain technology with social media to help you pick your next restaurant.
The mobile app lets foodies rate the quality of restaurants. In turn, they receive tokens for quality reviews. Users can also receive 1% cash back in the form of tokens when dining at participating restaurants.
Reviews are processed by AI to provide the most favorable recommendations for users through its search engine.
How Ignite Can Help
Blockchain technology isn’t the next big thing. It’s the big thing now. Success in this highly competitive market will come down to two things: a great idea, and solid technology to power it.
If capturing your share of the explosive blockchain market is the plan, we can turn your great idea into a great product.
We are Ignite, and providing technology solutions to companies like yours around the globe is what we do.
Ignite innovates at the cutting edge of technology to bring products to market. We are experts in blockchain technology, from DLT platforms to online portals. And, of course, we know how to make it fast and secure.
Why not contact us today for a no-cost consultation?