Successful Real Blockchain Implementation and Use casesiFour Team - 25 Jun 2020
By the present day, we can see that Blockchain is at different levels of success. This technology has caught the fire by underpinning the cryptocurrencies like Ethereum and Bitcoin. Apart from that, there are tons of new innovative blockchain ideas, but many among them still unproven and hypothetical. Being an incredible alternative to the traditional currency, way of handling financial transactions, and centralized banking, it is making a tremendous impact in all the industrial verticals. Blockchain is a distributed ledger that maintains the transaction list across all the networks linked across thousands of computers. The best part of a blockchain is that it is impossible to hack. It is changing the way of running businesses among vast verticals like Banking sectors, Blockchain development companies, Transportation and Logistics, Retail, etc.
Per Englund, Cofounder of Go CryptoWise says, Spanish bank BBVA and Electrica have used blockchain to power loans. With a deal worth $150 million BBVA granted a blockchain-based loan together with Japan's biggest bank MUFG and French banking group BNP Paribas.
Eliott Teissonniere, Blockchain Architect at Nodle.io says, "Aragon: Aragon lets anyone open an entity on the Ethereum blockchain and allows groups of people to organize themselves in a fully autonomous manner. Such an organization could be used by crypto-focused companies that don't necessarily have a physical entity in a given jurisdiction. There are cases I've seen where individuals manage their crypto funds this way and I've seen people using Aragon to set up a decentralized, self-owned trust fund. A total of over 1,400 decentralized organizations operated through the Aragon platform are storing and managing the total sum of $19M USD in crypto assets”.
Krzysztof Spisak-Spisacki, Blockchain Developer from Espeo Blockchain says, “EOS: A blockchain protocol aiming to provide minimal costs of transactions and high speed. $2,582,936,599 market cap and $1,593,445,328 daily volume.”
John Howard, Founder and CEO at Coupon Lawn, shared 2 successful blockchain technology implementations in action which includes, “Sending Money with No Fees: A company in the United Kingdom are processing bitcoins to be sent anywhere around the world with no charges and other is Online stores accepting bitcoins as payments: A lot of online stores are now accepting purchases using bitcoins or cryptocurrency.”
Jennifer Willy, Editor at Etia, says, “Bitcoin Faucet is one of the most successful models based on Blockchain technology. Bitcoin faucets are the system that distributes rewards in the form of a tiny fraction of bitcoin for visitors to claim. These rewards are given from time to time. Similarly, using it is equally easy. You have to enter your bitcoin wallet address/Email ID with your Xapo wallet. A timer will appear and after spending a considerable amount of time on the site, you can claim the reward by clicking on the ‘Claim Now’ button. Then you will have to prove that you’re a human by solving a mathematical problem. Your reward will be credited either immediately or on a designated weekly payout day to your wallet. The main source of income is Advertisement, due to which the profit margin is pretty low. The few other highest paying faucets are, 99 Bitcoins, CrytoAddicted, Moon Bitcoin, Free Bitcoin, etc. “
Charlie Wright, IT Consultant at Imprima, said, there is a rise of Blockchain-based ID protection; In terms of security, using an ID protection solution will give your customers some peace of mind, turning your blockchain into a safe spot. Wright also said, the use of smart contracts will offer companies to legally binding agreements that are taking place between two or more parties, allowing a greater level of anonymity.