Blockchain Blockchain Beyond Cryptocurrency and What It Could Mean for You
Emilio Janus | Sep 13, 2018 | 00:00
The Rundown
We often tell you that blockchain is the future of not just finance, but everything from social media, to shipping, to football. And it’s true that any industry which keeps records (so, any industry then) can benefit from a permanent and immutable ledger. Well, here are three more promising blockchain projects, and what they could mean for the bottom line of crypto prices.
The sharing economy has already revolutionized several industries: from taxis with Uber etc, to hotel rooms with services like AirBnB. ShareRing plans to take that a giant leap further, providing an eco-system for the entire rental economy.
Rather than limiting the service to any specific type of product, ShareRing aims to enable any business or individual to rent out… well, whatever they have. The company aims to launch an app in November to link potential renters with rentees, all underpinned by the blockchain.
Wouldn’t It Be Nice
What if there were a way to make international money transfers quickly, cheaply and reliably? And what if that way was so good that the banks wanted in on it too?
Inspired by bitcoin, several major international banks decided to develop a ‘utility settlement coin’ to facilitate more efficient international transfers. Big names are on board such as UBS, Barclays, Deutsche Bank, Credit Suisse, HSBC, and Santander.
Only financial institutions would use the coin, which would link to fiat rates. It is expected to launch in late 2018.
Spin Spin Sugar
Coca-Cola has teamed up with the US State Department to build a blockchain registry for workers in the worldwide sugar industry.
The ledger will also record workers’ contracts, which should help efforts to combat forced labor and poor working conditions.
I Want Money
This is all well and good, and Coca-Cola in particular, should be rightfully applauded. But how will this affect the price of our lovely crypto?
Well, any successful blockchain project (and there is no guarantee that these will be successful) gives a boost to the credibility of the blockchain. People must see that there is more to it than flogging a load of coins onto an unsuspecting public.
When that happens, we can hope that they will reassess cryptocurrencies, looking for those which are built around a sustainable business model. The proper scrutiny of ICOs and cryptocurrencies is essential to prevent the rightful stars drowning in the swamp of all that is bad.
What do you think about the future of blockchain technology? Let us know in the comments below!
Images courtesy of Shutterstock.
