Sergey Kovtunenko, Executive Director of the international group of companies in the field of decentralized digital asset management Zichain, shared with us an opinion on the benefits of blockchain technology. He told us about the most promising, important and unusual blockchain startups. We hope this is just the beginning in today’s digital space..
1. Voting by shareholders
Broadridge, a large American financial company, in partnership with banks JP Morgan, Northern Trust and Banco Santander, successfully tested the blockchain-based solution for voting by proxy.
The new platform is based on Ethereum smart contracts and created as a backup voting system. Its testing in real conditions took place at the annual meeting of shareholders of Santander Investments.
The aim of the project is to demonstrate the advantages of the blockchain and, in particular, its ability to make the proxy voting process more transparent, as well as how smart contracts allow you to receive real-time voting information.
2. Cryptocurrency secured by diamonds
Financing in the diamond industry has been declining in recent years due to reduced lending by banks, according to Reuters. However, gemstones have an alternative. Israeli startup Carats.io announces partnership with Celsius, a blockchain-based financial platform that launches diamond-backed cryptocurrencies.
A digital coin called CARAT will be supported by these natural stones, which, according to the company, should ensure the stability of the course and low volatility..
3. Music copyright management
The US-Israel eMusic project plans to raise funding to build a blockchain-based music distribution and royalty management platform to guarantee copyright holders a fair distribution of revenue.
According to Reuters, the company plans to pre-sell eMusic digital utility tokens in September, which will be needed by platform users..
The company said it has sold nearly 1 billion downloads from the song catalog (over 26 million tracks) in 20 years. Such a blockchain platform will allow you to distribute music and manage rights and royalties. When a song is downloaded and then played or sold, revenue is distributed between the service provider and the rights holder, says eMusic.
4. Food quality management
Sooner or later, blockchain startups should take over this industry. Nestle SA is introducing blockchain technology into the Gerber brand baby food production process as part of a large-scale program to improve product quality. Blockchain technology will be used to efficiently track ingredients around the world. The company is confident that this will increase consumer confidence: “People want to know, absolutely correctly, where the ingredients that they give their child come from,” comments the company..
The food giant is working on a blockchain project, the Food Trust, with nine other major food companies, including competing Unilever PLC and Walmart Inc., as well as International Business Machines Corp. The idea is that a single accounting system, shared between partners and competitors, will accelerate the tracking of low-quality products.
Although Nestle’s experiment requires tracking the movements of a large number of ingredients from a large number of sources, the real difficulty is related to the “movement of zeros and ones” – i.e. integration of information systems related to the production, transportation, delivery, processing and many other programs. IBM plans to launch a mobile application that farmers and others can use to enter data into the Food Trust system.
5. Pharmaceutical counterfeit control
FarmaTrust is a global blockchain-based tracking system that uses AI and data analysis to provide a more transparent pharmaceutical industry supply chain. A secure, encrypted system will control pharmaceuticals from the point of production to consumption, working with intelligent labeling. His main responsibility is to prevent counterfeit drugs from entering the supply chain..
The fake drug market accounts for $ 200 billion, and between 500,000 and 1 million people die each year from these fakes. Blockchain startups just can’t get around this.
6. Media on the blockchain
Startup TaTaTu, planning to release films on the blockchain, was able to raise $ 575 million during the ICO. It was attended by Prince Felix of Luxembourg, the second contender for the throne of Luxembourg, and Lady Monica Bacardi from the family of owners of the company-producer of alcoholic beverages Bacardi Limited. TaTaTu will not only produce its own video content, but will also develop a streaming platform, thus creating competition for Netflix.
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