Blockchain technology has come a long way since Bitcoin founder Satoshi Nakamoto introduced the idea to the world, along with the launch of the first cryptocurrency. Ten years later, the term blockchain technology has become synonymous with a lot of things, and it is no longer limited to being the power behind Bitcoin.
Various companies have stepped up to enter the blockchain technology sector, with each having their own reasons for joining—whether it’s to create decentralized networks or revolutionize various industries with it. The blockchain sector is expected to grow to $2.3 billion by 2021.
Bloom aims to reinvent microlending by integrating it with the idea of a decentralized, blockchain network. It also hopes to create a robust infrastructure with reduced fees. Using a new credit score called Bloomscore, individuals are to reach loan requests they may have had trouble with through banks because they lack the necessary requirements.
In an interview with Forbes, co-founder Daniel Marren says that the current credit system is “woefully inadequate” as borrowers have to disclose a lot of their personal information first. This leaves them very vulnerable in case a massive breach occurs. By integrating blockchain into their microlending system, the clients are provided with the privacy and security they need, too.
Global Blockchain Technologies Corp. (TSXV:BLOC.V, OTC:BLKCF) is built on a deep knowledge of blockchain technology and extensive experience in this sector. After all, its founder and chairman, Steven Nerayoff, is also one of the co-creators of Ethereum, the leading altcoin.
Global Blockchain sets its eyes on investing in emerging blockchain-based ventures. For instance, the company holds an incubation program that helps out over 12 new digital currencies each year. Its most recent venture is when it invested in KODAKcoin, which helped Kodak’s shares soar by up to 321 percent after the initial announcement.
The company’s investments are geared towards providing support for blockchain as a whole. Its fervent support of the growing sector makes it one of the blockchain startups to watch this 2018 and the years to come.
To help companies build bridges with other enterprises, Gem created GemOS, a scalable blockchain platform. What GemOS offers is a decentralized blockchain-based operating system wherein companies are able to share valuable information to help each other grow.
The people behind Gem believe that blockchain technology will help companies solve industry-wide problems through trust and transparency. It also hopes to encourage the use of new business models and services that are able to provide advantages for institutions and their respective workforce.
Gem is first setting its eyes on supply chains and healthcare companies. The blockchain startup is looking to expand its reach soon by drawing in auto insurance companies.
These blockchain startups are set to revolutionize various sectors with their unique application of the technology. As the market for blockchain continues to grow, we can expect more companies getting in on the action by creating decentralized systems of their own.