Blockchain-Supported Tech Behind New Startups
As we’ve discussed before, bitcoin and other cryprocurrencies are made possible by what’s known as blockchain technology, an incorruptible digital ledger of transactions that can automatically record and verify a high volume of digital transactions, regardless of location. Blockchain is most often known within the finance industry to date, but the technology is thought to have the potential to disrupt many industries, from healthcare to law enforcement.
Here are the latest innovative ways companies are harnessing the power of blockchain:
Guardtime Federal is a blockchain-backed data security startup that has used blockchain to create a Keyless Signature Infrastructure (KSI), a replacement for the Public Key Infrastructure (PKI), which uses asymmetric encryption and a cache of public keys maintained by a centralized Certificate Authority. Earlier this year, Lockheed Martin contracted Guardtime Federal to integrate a variety of cybersecurity-related elements into its systems engineering processes, supply chain risk management, and software development efforts.
- Real Estate
ATLANT, which raised over $6.5 million via ICO this year, is developing a platform that uses blockchain technology to facilitate real estate and rental property transactions. The secure, tamper-proof system allows users to trade parcels of property on Atlant’s platform – creating a lower barrier of entry into the real estate ownership market – and bypass intermediaries in peer-to-peer rental deals.
SimplyVital Health, a MicroVentures portfolio company, is a web-based platform that aggregates patient data across healthcare providers to accurately track patients and identify opportunities for cost savings, all while preserving data integrity through blockchain technology. SimplyVital’s platform is also one the most secure HIPAA protocols on the market; with its blockchain technology, it can create an immutable audit trail of a patient’s entire treatment history.
- Supply Chain Management
WAVE connects all members of the supply chain to a decentralized network and enables direct exchange of documents. WAVE’s application manages ownership of documents on the blockchain, eliminating disputes, forgeries, and unnecessary risks. Barclays conducted the world’s first live trade transaction using WAVE’s blockchain technology in 2016.
- Sports Management
Currently available as First Democracy VC’s first ICO pre-sale, the Fan-Controlled Football League (FCFL) is allowing football fans to get involved in the action by hiring coaches, fill the roster, and calling plays. Leveraging the Ethereum blockchain, FCFL will “maintain ledger-based transparency for all fan-driven decisions and reward allocations.” The company’s FAN tokens are what power fan decision making, and the number of FAN tokens owned will determine the level of control.
Learn more about how blockchain and other new tech is changing sports and the fan experience. Visit the FCFL offering page before the pre-sale closes. Not a MicroVentures investor? Sign up today.
This content was originally published here.