With all eyes fixated on arbitrary price increases in various cryptocurrencies, most fail to see the larger picture of society-wide disruption due to smaller and more innovative projects. There is a blockchain project for every industry imaginable. The extent of distributed ledger technology is permeating all aspects of society and not solely the financial model, though this is a pivot point from which increased innovation can spring once hurdles are removed.
A Blockchain Project for Every Industry
Some of the more notable industries are outlined below, though it is by no means an exhaustive list. Many of these blockchain projects are now past the ICO stage.
Last Mile Delivery – Last mile delivery is a growing space with the advances in e-commerce and the fact that millennials want items delivered as soon as possible. VOLT is one blockchain project aiming to disrupt the hub and spoke delivery model which is incredibly inefficient. Packages will no longer have to travel to a facility 500 miles away for distribution but will be collected by a p2p messenger and delivered for a fraction of the price. The result is faster, cheaper delivery, often on the same day.
Internet Privacy – The internet is not a safe place, either from hackers, Google, or the NSA, all of whom are interested in taking your data for free and without your consent. To offset this, Liberdy.io proposes to take control of data from centralized data harvesters and force advertisers to pay you for your rightful data using a DLT based application. BAT also operates in the same sphere. Ethereum and Eos are essentially creating a new internet without centralized actors such as Google, Facebook, and Amazon.
The Sharing Economy – This is quite possibly the most exciting area in DLT innovation. It can completely revolutionize how the economy works, and the rental economy is a subset. The premise is that all assets – cars, laptops, WiFi, disk space, physical storage space, houses, tools, appliances – are underutilized. But as the economy becomes more interconnected, it will become easier to rent for shorter time periods. Most blockchain projects are currently orientated to one sector as opposed to a multi-purpose asset rental platform. However, Origin is proposing an integration of shared marketplaces, so listings are easily managed.
The Rental Market – This is essentially a subset of the sharing economy, though it is large enough to warrant its own inclusion. Rentberry, RxEAL, and OkeyDokey are focused on disrupting the rental market. It will also become increasingly specialized. Imagine being able to rent out your kitchen to one set of tenants, your garage to another and your living room to yet another. All items of value would be traceable in an IOT era, and tenants would come and go if they have the required permissions on the blockchain through DLT enabled smart locks, which OkeyDokey is developing.
Education – Blockchain-based universities are emerging given the centralized nature of third level programs and the fact that the price is excessive in regions such as the UK and the USA. While the best education was once the preserve of privileged classes, a DLT solution could mean the same style of education is available to all regardless of color, race, age, or region. Oxford academics are launching the world’s first blockchain-based university, Woolf University.
Data Storage – Cybervein has created a new way of storing, securing and monetizing data, and a way of transferring databases to the blockchain. While data is a buzzword, structured data is kept in databases. A series of interconnected and immutable databases on the blockchain will revolutionize how data is stored, shared and monetized.
Governance Model – Certain blockchain projects are underway to completely remove governments. One such example is the floating island project in the Pacific, seeking to operate outside of the influence of national governments.
DLT is Rendering Governments Obsolete
For decades, national governments have been promising to create free education, free healthcare, free housing, a more equitable society, etc. After being unable to deliver on any of these promises, DLT is providing alternative ways of doing things such that education, healthcare, and housing will be more easily accessible and far cheaper for all, though perhaps not free. There really is a blockchain project for every industry. The price of cryptocurrencies is essentially a sideshow compared to the real revolution taking place on a much grander, yet quieter, scale.
Digital Nomad with an interest in Zen and Blockchain technology.
Law graduate with 3 years experience as a consultant in the capital markets industry and 4 years experience freelancing on UpWork as a Creative Writer.