Crypto and World Famous Brands: how the Blockchain can help businesses

Blockchain is increasingly changing the way that businesses conduct their everyday operations. The fascinating decentralized technology has a scope that puts it way beyond cryptocurrencies such as Bitcoin, Ethereum, and memecoins. Instead, companies can use distributed ledger technology to help make their operations more efficient, transparent, and decentralized.

World-famous brands are now integrating blockchain technology into their everyday operations. From carbon credit ecosystems to international payments to supply chain management, here are some ways that blockchain is helping businesses.

IMPT – Reducing Carbon Footprints for Individuals and Businesses

IMPT is one of the newest blockchain projects that is starting to help world-famous brands become more environmentally friendly. The IMPT ecosystem helps connect socially responsible brands with businesses and individuals seeking to reduce their carbon footprints.

The entire system was designed to make it straightforward for people who want to securely offset their carbon footprint and provide them with the opportunity to help the environment positively.

It seems that environmentally-conscious investors quickly realize the impact that IMPT will have on their overall industry and are beginning to rush to the presale to invest in the project early. As a result, IMPT has already managed to raise over $5 million within two weeks of its presale going live to the public.

The presale is scheduled to take place over three separate phases. The first phase will offer 600 million IMPT at $0.018. The second phase will provide an additional 660 million tokens for $0.023, and the final phase will offer 540 million IMPT for $0.028. Each phase will occur consecutively and will begin when the previous phase is sold out.

The ecosystem is comprised of the following:

• A Carbon Marketplace
• A Shopping Platform
• A Social Platform

The Carbon Marketplace allows users to quickly buy, sell, and retire carbon credits. A carbon credit is a permit representing one ton of carbon dioxide being removed from the atmosphere. Typically, large multinational corporations are required to purchase carbon credits to offset the pollution caused by industrial production. However, due to its fragmented and convoluted nature, businesses and individuals are often hesitant to enter the carbon credit market. The industry is known for obscure pricing data and prevalent scams that sell counterfeit carbon credits.

IMPT is seeking to remove the barrier of entry to the carbon credit marketplace. The team believes that positively contributing to the environment should be affordable to everyone, regardless of whether or not they are capable of purchasing carbon credits.

The great thing about carbon credits on IMPT is that they are tokenized in the form of NFTs on the blockchain, providing complete transparency and traceability. This means that buyers can be confident that their carbon credits are genuine. In addition, when a user wishes to retire a carbon credit, the NFT is sent to a burn address, removing it from circulation. This eliminates the concern of carbon credit fraud, such as double-counting credits.

Another great feature of the IMPT ecosystem is its Shopping Platform, which allows shoppers to earn carbon credits through everyday shopping. IMPT has partnered with thousands of world-famous brands, who are all ready to allocate a portion of their sales margin to environmental projects, such as IMPT. When a buyer purchases the platform, the sales margin is held in their account in IMPT tokens until they have enough tokens to buy a carbon credit. This feature allows everyday shoppers to reduce their carbon footprint by shopping.

According to the project’s Twitter, they have more than 25,000 affiliate retailer brands, increasing by 20% each month.

Some world-famous brands that IMPT has signed on include:

• Lego
• River Island
• Macy’s
• Bloomingdales
• GameStop
• Bodego
• Udemy
• Microsoft

Lastly, IMPT will launch a Social Platform to incentivize individuals and organizations to become more environmentally friendly. The Social Platform will feature the first global score that will enable everybody to measure how impactful their carbon footprints are. The higher their Impact Score, the higher their ranking. Eventually, environmentally-conscious brands will battle to get to the top of the leaderboard to show their positive impacts on the environment.

IMPT has created an ecosystem that is much needed in the cryptocurrency space. The industry has long been plagued with pollution concerns due to the sheer amount of electricity required to secure Proof-of-Work blockchains such as Bitcoin. With IMPT, all cryptocurrency projects now have a method to enter the carbon credit market and reduce their carbon footprints. Overall, this will push the cryptocurrency industry into a more sustainable future and help world-famous brands reduce their carbon footprints.

Visit the IMPT Presale

Vechain – Tracking Supply Chain Management

VeChain is a blockchain platform that aims to improve supply chain management and enhance business operations. By combining blockchain technology with the internet of things, VeChain has created an ecosystem that allows manufacturers, businesses, and retailers to track products throughout the supply chain.

As a result, businesses can use the VeChain ecosystem to ensure that the products they are sourcing are genuine. In addition, it helps to reduce counterfeiting in all industries as the data is recorded on the blockchain and is entirely traceable and immutable.

The platform allows manufacturers and businesses to assign a unique identifier (VID) to each product. The VID can be implemented using QR codes, RFID Tags, or Near Field Communication (NFC) tags.

As the products pass through each stage of the supply chain, the operations involved with the production are logged. This means buyers can be confident that the product is authentic when it reaches the end user.

Many businesses have already started implementing the VeChain Thor technology into their everyday operations.

PwC is one of the major strategic partners of VeChain. The $37.7 billion auditor has been partnered with the project since 2017 and is providing its clients with improved product verification and traceability.

One particular industry that has been exploring partnerships with VeChain is the automotive industry. World-famous brands such as BMW and Renault have partnered with the supply chain management solution. For example, VeChain is participating in the BMW Startup Garage Program, testing a prototype solution for BMW that stores vehicle data securely. In addition, Groupe Renault is using VeChain to create a completely tamper-proof digital car maintenance book. This helps buyers be sure that the information received about the vehicle, such as mileage and service history, is entirely accurate as it cannot be tampered with.

VeChain has also been making waves in the supermarket industry. Walmart China was one of the first movers into the space after partnering with VeChain in 2019. Together, they launched the Walmart China Blockchain Traceability Platform, in which 23 different products were tracked using the VeChain system from the product’s source to the Walmart stores.

Another industry implementing blockchain into its operations is the retail fashion industry. One famous brand partnered with VeChain is LVMH, known as Louis Vuitton. The two companies have partnered to explore the best methods of implementing the technology into their supply chain, starting with the Givenchy bags to help customers verify if they are genuine. Furthermore, H&M also entered into a partnership with VeChain through its luxury subsidiary brand, Cos. Together, the two projects use the VeChain MyStory app to collect supply chain data and share it with customers. Additionally, Arket, another brand from H&M, is using VeChain to track sustainable wool.

As you can see, blockchain technology is already helping a long list of famous brands to help improve business operations by making the supply chain more efficient and transparent.

Ripple – Improving Cross-Border Settlement Between Large Banks and Corporations

Although it’s going through a major lawsuit with the SEC (and looks like it’s winning), Ripple has long been used by the banking industry to handle cross-border settlements between countries. The blockchain-based company was founded in September 2012 and has been amassing partnerships with a string of banks and large corporations actively using its technology.

Ripple created a Ripple Transaction Protocol (RTXP) called RippleNet, a cross-border Real Time Gross Settlement (RTGS) system that provides lower costs and shorter transaction times. The technology is much more secure than traditional cross-border payment systems and offers a real-time settlement. However, the solutions provided by Ripple go beyond cross-border transactions and include the likes of e-Invoicing, international supply chain payments, and real-time cash pooling.

As a result, there are a handful of major banks that have partnered with Ripple to be able to use its technology. One of these major banks is the Bank of America, the second largest bank in the USA, which has a central role in ensuring that the company operates from a legal standpoint. Information about the partnership has been relatively muted since the SEC lawsuit. Still, experts suggest that the Bank of America will start using RippleNET to handle cross-border transactions once the case is settled.

Other banks that are using RippleNET include

• PNC Bank
• Siam Commercial Bank
• Santander Bank
• Standard Chartered Bank
• SBI Remit
• Krungsri
• Canadian Imperial Bank of Commerce

PNC Bank started using Ripple in 2016 to improve its network transaction speed to provide quick payments for its clients. Siam Commercial Bank, the largest bank in Thailand, uses RippleNet to help with outward remittance services between twelve countries. Santander is focused on utilizing Ripple technology in its One-FX service, which allows its customers to conduct cross-border payments between the US and EU.

Overall, even though it might be an outcast to the traditional cryptocurrency industry, Ripple is helping the traditional financial industry to improve its operations by utilizing blockchain technology.

Conclusion

As you can see, countless world-famous brands have started implementing blockchain technology into their everyday operations. The utilization of blockchain technology is helping these brands become more transparent and efficient compared to their previous traditional systems.

Some of these technologies have been explored for several years, while others are still relatively new. IMPT is one of these new projects, but investors increasingly believe its carbon credit marketplace and shopping platform will push the industry into a much more sustainable direction, helping cryptocurrency become greener over the long term.

Visit the IMPT Presale