From autonomous robots to asset management: here are four promising startups at the end of 2018.
ICO projects without real use are no longer attractive to investors. According to ICODATA $ 150 million were collected in October 2018 in token sales. This is a substantial decline compared to the $ 1.5 billion collected in January of the same year.
"The space of the blockchain is coming to the point where there is a ceiling in sight" – says the co-founder of Ethereum Vitalik Buterin. According to him, the next step will concern "real applications of real economic activity".
Regardless of the statements, as well as the hopes that the last part of 2018 will bring a return to practicality, it is rather difficult for projects to move away from information noise. As a result, we decided to choose four major blockchain-based projects that have not yet succeeded in the media, despite providing solutions to real problems.
Problem: the increasing complexity of supply chains, production and urban life that is becoming difficult to manage
Solution: allows users to order goods and services from autonomous robots that work hand in hand with one another.
Robonomics Network represents an Ethereum-based network infrastructure that is designated for the integration of robotic factories in the industry and within smart cities. Since 2015, a team of expert scientists and blockchain developers in Russia have worked on a solution that will allow autonomous robots to cooperate with each other, making economic and efficient decisions without any additional human intervention.
The main purpose of the network is to control, distribute and provide services using cyber-physical systems. The network is adaptable to the needs of people and is built on the basis of existing market mechanisms.
By expanding the existing capabilities of the basic communication protocol, autonomous robots are effectively able to interact with the aforementioned market mechanisms and other contractual obligations. As such, the project is designed to provide the tools necessary for designers of new cities, industrial areas and to provide the user with direct access to the ordering of products and services.
The platform is also able to solve problems and challenges of global importance. In 2017, the first international blockchain-based transaction for carbon unit transfer was conducted using Robonomics, with Microsoft's technical support.
Another of the platform's applications can be outlined when it comes to fighting forest fires. Disasters such as what we had to witness in California this year could be avoided if the authorities used robonomics-based unmanned drones that are used to monitor forests with thermal cameras. This system is able to function throughout the year and has been successfully tested.
Problem: the limited ability to spend digital currency in everyday life limits the growth of the entire sector
Solution: to allow shops and cafes to become cryptocurrency traders
The vast majority of existing merchants do not yet accept cryptocurrencies. This is due to market volatility, the lack of an existing payment infrastructure and their total inability to be used in rapid microtransactions.
Cyclebit believes that huge fluctuating prices could easily be mitigated by overly widespread ownership and use, which is facilitated by providing easy ways to pay with digital currencies. The startup was able to find a solution that allows any store to install a simple application supported by IOS and Android that runs to receive cryptocurrencies with the same ease with which it is able to pay. The application also facilitates payments from online cryptocurrency payments.
The solution is currently distributed in 130 different Nostrum cafes throughout Spain, where customers can now buy a cup of milk with BTC. The startup managed to access a working ecosystem brought by Ibox – a omnichannel payment platform that has over 200,000 stores that are marked for the upcoming launch.
Problem: PoS and PoW algorithms hinder micro-mining and suffer from centralization
Solution: uses the Proof of Assignment algorithm to make extraction possible on IoT devices
IOTW represents an IOT blockchain infrastructure that brings instant throughput obtained through the Proof of Assignment protocol. This is what allows for micro-mining and instant transactions on all connected devices without the need for additional hardware. This allows the blockchain to enter the industry and the domestic sector.
PoA allows the network to accelerate which is what makes it better for IoT devices. It also eliminates the problems of centralizing PoW and PoS.
The Block Witnessing protocol provides an additional level of security for the network compared to existing blockchain architectures. It does so by exploiting a pool of witnesses that makes the network essentially smaller and able to hold hundreds of times less copies and ledgers.
The project has already been tested on more than 1,000 IOT devices running on a single trusted node on the blockchain. The current results show 3,000 TX / S for long distance transactions and 100,000 TX / S for local ones.
Problem: existing asset management services fail to use blockchain due to the low reliability environment of the cryptocurrency field
Solution: Allows users to manage their wealth using a platform based on blockchain, deep learning and artificial intelligence
TrustVerse is a platform of asset management and personal digital wealth based on blockchain technology and artificial intelligence (AI). It is a digital deep learning assistant that addresses all digital facets. The platform is powered by a deep-neural and multi-data financial portfolio optimization engine and provides a system of reliable intelligent contracts that simplify legacy planning and inheritance organization and the overall transfer of digital assets. It works as a one-stop shop for almost everything a person might need: from managing taxes, portfolios, identities to distributing their real assets once they pass.
The platform also contains many tools for digital asset management. Smart contracts can help you assist life planning services that can be used for inheritance-derived resources – all of this is stored on a public and verifiable blockchain.
Unlike traditional financial services in which a particular organization is storing personal data on a centralized server, TrustVerse will not store any personal information as it provides services to users authenticated by a technology developed jointly with Microsoft.