Blockchain technology is on the rise and is estimated to be worth 2.3 billion by 2021. Perhaps the most exciting is the realization of the impact that blockchain will inflict globally, as banking and finance industries are not the only ones opting the change. IDC Health Insights predict that already by 2020 over 20% of all organizations will have moved beyond pilot projects and will have operationalized blockchain, signalizing that a number of aspects in our lives will be powered by blockchain, including logistics, healthcare, real estate, tourism and even entertainment.
Here are the top five blockchain companies that are already advancing the field of finding ways to use blockchain as a basis of their business operations and are expected to offer even more prominent solutions based on blockchain during the upcoming year:
A disruptive payments company that uses blockchain to allow for short-lived subscriptions to content that is accessible at all times. The US-based company provides its users with short-lived subscriptions to any digital provider’s premium content, such as gaming, news, information or entertainment via one account/password. With the use of blockchain technology, users are allowed to “rent” subscriptions either based on hourly or daily basis and are given access to chosen outlets with one login for all identified sources of interest.
The solution is tied to the Hyperledger blockchain and helps to reduce fraud while also bringing premium content to the average user. Easy, accessible, smart and very much needed.
The first tokenized cryptocurrency trust based on blockchain, secured on residential real estate. The company invites blockchain users to participate in successfully operating business of residential real estate management and development by providing a reliable legal grounding between the real estate pricing and the crypto-token value.
Using token crowdsale mechanism to finance development of a unique ecosystem, Trust-X provides investors access to real residential estate investments, i.e. users can have an easy way of legally purchasing real estate with crypto. With over 30 years of accumulated experience in fintech and real estate, the core team of Trust-X evaluates residential real estate projects guaranteeing a minimum annual net return of 10% from the largest cities with stable economies worldwide. Currently, Trust-X is preparing for the ICO.
Transportation and logistics industry may never be the same, since blockchain optimizes transactions and trading relationships due to a secure way to share information between parties. BiTA was formed by experienced tech and transportation executives to create a forum for the development of blockchain standards for the freight industry. With over 200 companies that have already applied for membership, BiTA aims to vest interest in the development of blockchain technology within national and international logistics.
By implementing blockchain technology, BiTA seeks to use triple-entry accounting, which the organization believes would solve some of the industry’s most pressing concerns, such as claims settlement, the need to improve traceability and tractability as well as the pressuring need to cut costs as well as shorten the supply chain.
Medical data management is expected to be impacted heavily during the upcoming year as well. One of the companies that are already on their way of transforming medical field is MedRec – the company that initially has the potential to transform electronic health records and uses patients as a way of “moving” records further.
MedRec does not store health records but rather stores a signature of the record on a blockchain and notifies the patient who is, by the end of a day, ultimately in control of where that record goes. Allowing patients to manage their medical records on blockchain, the company aims to provide one simple interface for both patients and doctors to use – allowing patients to ditch the process of “New Patient” forms and dismissing the need to explain their medical history, MedRec features a user interface that simplifies patient interaction as it grants doctors access to information instantly.
Along with the mentioned fields, tourism industry is on the verge of transformation from new emerging technologies to enjoy the fruits of blockchain. As for tourism industry, where data sharing is necessary, the advantages of blockchain are simply innumerable – just imagine going from your home to airport for your flight, then from the airport to the hotel and straight to your room without the need to queue to share your personal data. Blockchain in this situation acts as an “information connector” allowing its users to save time and money throughout the process.
Being the trailbreaker embracing blockchain in tourism industry, a German multinational travel agency TUI Group started adopting technology into its booking, reservation as well as payment systems. The innovation fits with TUI’s asset-heavy strategy and is expected to increase the overall amount of savings. The next tourism giant that is expected to start basing is decisions is Airbnb, where the potential benefits of blockchain are beyond imaginable for the current moment.