You could argue that nearly every cryptocurrency in the industry is an ambitious venture considering how they all aim to be a viable alternative to fiat money and current legal tender, but even still, there are some projects in the industry which try to push boundaries beyond all expectations. These projects are not only ambitious but also attempt to tackle huge issues through the use of blockchain technology. These may be financial, social, or scientific issues, but what they all have in common is that they do not shy away from challenges that were once thought of as unsolvable.
Here is a collection of three cryptocurrencies that are all working towards incredibly ambitious goals. For the purpose of originality, this list does not include the more well-known coins in the cryptocurrency community.
Substratum is a blockchain project which is attempting to create a decentralized version of the internet. The purpose of this is to allow people in countries where internet access is restricted or even entirely blocked to browse the web in a way that entirely bypasses tyrannical government regulations.
People in countries like China, Syria, and possibly Vietnam who struggle to surf the web in any capacity will find Substratum to be of enormous interest as it essentially unlocks a world of communication and information to them. While it is still possible to access the internet through services like VPN, TOR, Tails, and I2P, they all require some level of technical knowledge, and if caught using them, could lead to severe punishments. Substratum is trying to make their decentralised internet easy enough to use that you would not need any prior computing knowledge whatsoever.
For Substratum to work, it needs the cooperation of people in countries where the internet is not restricted whatsoever, such as the U.S., U.K., and most other locations. Users who run full Substratum nodes would become their own decentralized web hosts, and by doing so, they would allow people in internet-restricted countries to access the web. This essentially means that people would be renting out computer space and would earn a passive income (in the form of SUB tokens).
With perhaps the most futuristic idea in the industry, EncrypGen is a company that is aiming to protect your rights to your DNA by placing it on the blockchain. EncrypGen believe that we are heading into a world where people will find their DNA to be extremely lucrative and useful and that we need to protect it from falling into the wrong hands or being used without our explicit consent. For example, the not-so-distant future may provide us with numerous products which are tailored to our DNA, and if we do not take action soon enough, we could end up being taken advantage of— like Facebook stole and sold users private data without any warning. EncrypGen fear that the very same could happen with our genetic information.
EncrypGen is creating a blockchain that allows users to place their DNA on the ledger so that there is an indestructible record of ownership— this is called the Gene-Chain. The Gene-Chain will allow people to store, secure, and sell or rent their DNA out to other businesses. It will also allow other companies to purchase DNA rights from other people ethically.
Power Ledger (POWR)
With solar and renewable energy becoming increasingly important to our changing climate, Power Ledger paves the way for making these alternative forms of fuel even more cost-effective and lucrative. Power Ledger allows people who have solar panels to sell their excess energy to their neighbors at a reasonable rate that is satisfactory to both parties— this effectively means that people can trade their energy.
According to their website, a study conducted by Power Ledger found that numerous people who have solar panels are willing to sell their energy, and people who do not have them are looking to buy. Power Ledger claims that one of the main reasons people want to buy solar power is because it is cheaper than using non-renewable energy. If this project was to take off it could mean that a neighborhood with just a handful of solar panels could power dozens of homes.
All three of these projects are extremely ambitious and revolutionary, and while it seems possible that any of them could see mass adoption, be mindful that this market is so new and fast-paced that nobody can confidently say which projects will succeed and which won’t.
Kai is a cryptocurrency copywriter and professional trader. He can often be found investigating various cryptocurrencies, whitepapers, and blockchain technologies. Kai has been a professional writer for 5+ years, and has invested in 50+ different coins and tokens. He also currently studies Law and Philosophy at university.