According to Forbes, almost 50,000 businesses or start-ups come into existence per year in the United States. That’s a large number if seen figuratively but almost 70% of the new start-ups survive not more than 2 years. There are many reasons for the downfall of most businesses but regardless of this, emerging start-ups are simplifying the blockchain technology and blockchain start-ups are excelling and leading the business market.
There are many blockchain start-ups running successful regardless of the fact that they are newly launched. Blockchain startups, especially the healthcare and shipping blockchain start-ups are revolutionizing the blockchain technology – deliberately changing the blockchain technology.
Before we get to the primary objective of this post, let’s see what blockchain actually is
Blockchain technology, to elaborate in simplest terms, is a series or collection of immutable data and records which can’t be managed by a single entity but rather by multiple clusters of systems. Each block of data is secured and unbreachable as it is chained or locked with another block of data by using the cryptographic principles, which are the chain principles. Ever imagined what is the future of blockchain industry?
As the blockchain technology has no authority, the information is open for everyone, including the start-up owners too. Everything built, even a blockchain startup on blockchain principles has transparency and start-ups are using this benefit to simplify blockchain technology.
AngelList has almost 3000 blockchain companies enlisted. By the year, 2022, the cost spend on blockchain solutions worldwide is expected to be more than $11.7 billion.
Blockchain Start-Ups Are Simplifying and Revolutionizing the Blockchain Technology
Things might look surprising from now but here are several ways how blockchain start-ups are dominating the market.
Start-Ups Simplifying the Blockchain Retailing:
Currently, the market is revolving around online shopping from virtual marketplaces. Blockchain start-ups are simplifying the blockchain technology by the aim to revert the marketplace and security balance towards the middleman platforms and the actual online sellers.
One such example is the Open Bazaar, which connects you to other buyers and users through the internal network to enable goods trading.
Start-Ups Simplifying Blockchain Online Advertising:
There is no single way of online advertising. Online marketing is still progressing which can be chaotic when it comes to being spammed on the internet with unwanted multiple ads. This is where blockchain technology shines.
For example, The Brave Software not only blocks unwanted ads but also loads the web pages faster. Start-ups are using the simplified blockchain technology to show only relevant information which the users want to see.
Blockchain Technology Used in Ride-Sharing Industry:
Online cab services such as Uber are like a big authority controlling the taxi services online. Blockchain start-ups such as the one who developed Arcade city are providing ways to simplify these tasks by integrating a peer-to-peer connection. The peer-to-peer concept is also applied in ridesharing. The drivers still have to use the cab app but now, they are free to set their own rates using the peer-to-peer system.
Blockchain Technology Used in Cloud Storage:
Cloud storage gained popularity when it first hit the market but despite the fact that it has millions of users online, the system, still, is not bulletproof. Companies store the user records and information in centralized servers. This leads us to the fact that cloud servers can have a system failure too and it can make the whole cloud storage system open and vulnerable.
With the use of hashes in the blockchain technology, blockchain start-ups are decentralizing the whole cloud storing process. This makes it impossible for hackers to hijack all blocks of storage in the cloud servers.
Healthcare Blockchain Start-Ups:
We are aware that there are millions of surgeons and doctors all across the globe. Information sharing is an integral need of the healthcare industry but unfortunately, communication is difficult in this industry. However, simplifying blockchain technology can resolve this issue.
For instance, we take the blockchain start-up that created Gem. It is an encompassed crypto-currency software that recently collaborated with Philips to develop a patient’s whole treatment plan including the medical records, previous injury records, claims, payments, medical bills, visits to the doctors and etc. The Gem is considered as one of the best blockchain start-ups as it has simplified the blockchain technology in real term.
In the mean future, 55% of the total healthcare institutes will adopt blockchain technology for commercial growth.
How to Invest in Best Blockchain Start-Ups?
If you are thinking about investing in the best blockchain start-ups, here are some feasible and viable options through which you can easily invest in blockchain technology and blockchain start-ups:
- 360 Blockchain INC.
- Hive Blockchain technologies
- Cryptocurrencies and Bitcoin
Blockchain start-ups are going to revolutionize the new side of the internet, that is the blockchain technology. We are aware that blockchain technology can be used in every industry and consumers can greatly benefit from it – let alone the use of blockchain in cybersecurity.