Four areas where cryptocurrency can change businesses for the better

Four areas where cryptocurrency can change businesses for the better

New coins and blockchain networks are being created everyday in the cryptocurrency market yet only a few are offering a working product.

Some are offering valuable services that have the potential to change business infrastructure forever. Some are offering a basic whitepaper and no working product.

The top 2 major coins, Bitcoin and Ethereum, both have a working product at the moment but looking outside of those two in the top 20 coins, we find only a few with an actual working product; Stellar, Ripple and NEO being prime examples.

Behind the flashy whitepapers, enormous marketing and advertising bills and all the hype behind a Cryptocurrency, it has to offer something valuable and worthwhile to the customer.

So, what can cryptocurrencies actually offer to businesses?

As awareness spreads, Blockchain technology is slowly becoming more prevalent in the world and is starting to create valued partnerships and offer real world usage of their services.

Whilst adaptation is slow and being held back by constant fears of regulation and outside interference, there’s no denying that Blockchain technology has the capability to transform businesses and services into something decentralised and connected.

With this in mind, we need to consider how cryptocurrencies can actually help businesses to evolve and also encourage them to use a vastly undiscovered and somewhat risky blockchain network.

There are four areas in which I feel cryptocurrency and blockchains can change how the sectors are run immeasurably, and in the process future proof them for further breakthroughs and adaptation.

I’m going to highlight 2 coins in each sector that can directly influence the future success and apply the real world usage that cryptocurrencies need.

Tourism
______

Futourist

Futourist is a blockchain based review platform that allows users to create, share and profit from posting genuine, honest reviews.

The review market is huge yet seems limited to certain websites where the reviews are sometimes dishonestly funded, highly partial to biases and don’t paint the full picture of what’s on offer.

Futourist encourages users to travel somewhere new, review something and get paid with the native FTR token. 

Indahash

Indahash is the platform for brands and influences to connect and create brand awareness using the blockchain platform.

Influencers create campaigns for companies around the world on social media platforms and encourage their followers to visit new places and use their products. 

It’s truly global, as social media now reaches all corners of the earth and has an enormous global audience for both influencers and brands.

As it’s run on a blockchain and users paid in the native IDH currency, campaigns are easy to run and incredibly simple to manage through the app. 

Finance and banking
______

Wanchain

Wanchain’s goal is to create a decentralised infrastructure that allows the transfer of digital assets between multiple blockchains. It can facilitate exchanges of assets and goods, loans, settle transactions and complete credit payments.

It’s basically everything a bank can do but on a interconnecting blockchain network that can transfer information effortlessly. 

There’s been a lot of hype around Wanchain recently but it’s truly warranted hype. Using Wancoin to complete transactions and pay fees, their network is now up and running. 

Eliminating the need for traditional banking methods, Wanchain has the real potential of transforming personal finance and banking in the near future.

Bitcoin

Bitcoin. The coin that started it all. Its holds the number 1 spot in the cryptocurrency world and with good reason!

The inception of the decentralised currency gives the power back to the people, away from banks and centralised mediums of exchange.

Bitcoin has a working product that just keeps getting better and better as breakthroughs occur; The lightning network, lower transaction fees and SegWit technology being huge leaps forward for Bitcoin.

Bitcoin has sparked a revolution, and paved the way for cryptocurrencies to completely transform the business world as we know it.

Government and services
______

Icon

Icon is about interconnecting businesses and services through the blockchain network. It builds a new infrastructure and introduces ‘communities’, which are basically different sectors of a countries government and services; Banking, hospitals, schools, insurance and government being key examples.

It then connects them together, storing the information on the blockchain network and allowing for the seamless exchange of data, services, assets and information between the network.

Icon’s network is now live and has a large number of potential users, the main one being the South Korean government and infrastructure.

When companies start to utilise Icon to the fullest, its true potential and capability could change governmental procedure in a multitude of ways.

NEO

NEO is a Blockchain network that can run Decentralised apps (Dapps), smart contracts and their own ‘smart economy’. 

NEO’s smart economy will host physical assets in a digital form and proof of ownership capabilities. The assets can be leveraged, traded and sold using smart contracts.

NEO is a Chinese based coin and having a hugely influential team of investors and owners, namely Da Hongfei, the owner and CEO of NEO. 

Da Hongfei owns the pioneering blockchain company in China, OnChain, and he is a major player in promoting blockchain platforms to Chinese businesses.

The strong team and development team led by Hongfei are the pioneers of blockchain in China, and are making huge inroads with the application of the technology there. 

Money transfers
_______

Stellar

Sending money abroad can be expensive, time-consuming and sometimes takes forever to send your money to someone around the world. This is where Stellar comes in.

Stellar is in the running to be the leader in the micro transactions market. Their focus is to be the market leader in low cost mobile payments and micro transactions worldwide.

Their transactions are confirmed within 5 seconds, fees are extremely low at $0.01 and it allows for low-cost payments and the exchange of money between borders and through various currencies.

Users can send XLM tokens around the world, Peer-to-peer and then exchange to their native currencies for the same low fees as sending the tokens.

NANO

Whilst being very similar to Stellar and offering the same product, Nano has the very real potential of being the market leader if they continue their astronomical rise to prominence.

Nano offers zero fee transactions, lightning fast block confirmations and a simple platform that anyone can use.

Using their native NANO coin, customers can send their money worldwide and then exchange into their native currency, use it as a payment channel or simply send it again to someone else.


There’s many, many more cryptocurrencies out there with working products that have undiscovered potential in changing business operations in the future. 

Find one that works for you and read the whitepapers carefully.

It’s only a matter of time before the world catches on and integration of blockchain services and networks explodes into the mainstream.

Get out there, do your own research (DYOR) and find the next big thing!


If you have any case studies of findings on other coins, want to talk about Cryptocurrencies or need any help in getting set up for investingtweet me on Twitter, leave a comment below or reach out using the contact page. Thanks!

Share your thoughts!

%d bloggers like this: