Hundreds of new companies working on discovering and advancing more use cases of blockchain appear every year. With the technology being applied in many other industries besides cryptocurrency, many people around the world are trying to be ‘the next Bitcoin.’
However, most of these startups fail. Like companies in other industries, their effort fails or pivots when the investors lose interest or their product doesn’t work. In fact, according to one statement, the average lifespan of blockchain projects is just about 1.2 years.
Just a small percentage succeeds by going beyond prototyping, testing, and marketing phases, and they are the companies that are on the way to something special.
In this article, let’s talk about four such pioneers to watch in 2020.
- 1. Healthcare: Medicalchain
- 2. Gaming: MobileGo
- 3. Logistics: Chronicled
- 4. Internet Browsing: Brave
- 5. Final Thoughts
1. Healthcare: Medicalchain
Healthcare is without a doubt one of the industries where bitcoin can make a lot of difference. There are claims that the technology can save the industry up to $150 billion by the end of 2025 in IT costs, support function costs, data breach-related costs, and staff costs.
Medicalchain, a London-based startup, is a rapidly progressive pioneer in this area. The company’s main promise is to provide a decentralized, secure platform for exchanging and using personal medical data. With medical records of patients being accessible in the electronic form for a while now, medical organizations, as well as patients, can benefit in a big way.
Thanks to the blockchain-powered platform, people can securely store their health records, update them on a regular basis, and share with healthcare professionals. This also benefits medical insurers and healthcare institutions, as they can access updated, validated health information directly from patients.
Medicalchain has been quietly achieving impressive results; one of them is signing a cooperation agreement with Mayo Clinic, one of the biggest academic medical centers in the U.S.
Definitely, Medicalchain will get more media mentions in the future, so it’s an exciting venture to watch in 2020.
2. Gaming: MobileGo
This recently emerged startup has been making a lot of noise in the gaming industry these days. A mobile cryptocurrency gaming platform, MobileGo is an excellent tool for millions of gamers that allows them to spend the special currency, MGO tokens, across numerous games. As far as we know, this is the world’s first crypto-centric mobile gaming platform and store that gamers can use to make in-game purchases, which is something a lot of people would be interested in.
“The developers of MobileGo call it “the Bitcoin of the gaming industry,” and they have the potential to become one of the most widely used methods for in-game purchases,” says Adam Rowe, a blockchain writer at Trust My Paper. “If the company plays its cards right, they can become hugely successful in the multi-billion video gaming industry within a few years.”
And they seem to be well on the way to do that. The team at MobileGo has recently released its first complete and open-source API, which makes it possible for video game developers to include the functionality of accepting and distributing payments in MGO tokens.
3. Logistics: Chronicled
Blockchain is quickly becoming a must-have in logistics, with companies like Chronicled leading the way. With many of the traditional logistics and supply chain practices being highly ineffective – just think about preventable costs due to middlemen – companies are looking for a better way to make global logistics more transparent and efficient.
Chronicled, a California-based company, provides a solution for that: a decentralized supply chain system that combines IoT and blockchain to not only improve but automate traceability of goods as well as increase the reliability of financial transactions.
And they’ve been successful so far. Earlier this year, Cumberland, a large U.S.-based pharmaceutical company, announced a partnership with Chronicled to develop MediLedger. This would be a large system for tracking drugs on a blockchain where every stakeholder has access to all transactions that occur during the shipping of medications.
By having each transaction authenticated via blockchain and each package’s provenance verified, the stakeholders can dramatically reduce the need for ineffective manual practices as well as minimize errors in logging the progress of shipments.
“The blockchain-enabled control also means fewer chances for criminals to introduce counterfeit products into a supply chain,” says Kamohelo Serrero, a researcher at Studicus and a former logistics coordinator. “With some estimates saying that more than 10 percent of all medications in the international supply chains are counterfeit, introducing blockchain may be an effective way to ensure the integrity of products reaching patients.”
“We’re definitely going to watch the progress that Chronicled makes next year; with the company recently securing $16 million from Mandra Capital, opening a development office in Canada, and winning Newsweeks’ Blockchain Impact Award this year, it’s just got one step closer to transforming the world’s logistics systems.
4. Internet Browsing: Brave
The next project on our list is the world’s first blockchain-powered internet browser. With more than 20 million downloads already, Brave is a fast, safe, private and open-source browser that was co-created by Brendan Eich, one of the founders of the Mozilla Project. According to developers of Brave, their ultimate purpose is to make web surfing great again by preventing web giants from getting user personal and activity data.
To help people with that, Brave provides an impressive arsenal of features. For example, it employs the next-generation ad blockers called Brave Shields that make it almost impossible to identify Internet users. The private browsing mode in Brave is also unique: to hide the location and other user data, it masks the location by routing the sessions through several servers before reaching your true destination.
The newly released Brave 1.0 version has been well-received by users and tech review companies. For example, Wired has recently praised the project by saying that it has the potential to replace Chrome on all devices.
Indeed, Brave is a decent alternative to Google Chrome. Its users say it’s very fast and feels extremely polished, and millions have already tried it (and appreciated the higher privacy level as well as the fact that it uses less computing resources).
With a monthly active user base of about 8 million and the recent incorporation as the default browser on HTC blockchain Exodus 1 phone, Brave will definitely be making more headlines in 2020.
5. Final Thoughts
Here you go, four most exciting blockchain projects to watch next year. Although they’re not changing the world – yet – their solutions certainly have the potential to disrupt entire industries. Whether it’s safe and confidential web browsing or a secure health record sharing platform, everybody could benefit from blockchain in their own way, and this what makes this technology even more interesting.