Chainalysis – a commonly used blockchain data company – recently invested in an unspecified amount of Bitcoin. The investment comes as Bitcoin's price creeps ever closer to all-time highs and surpasses its market cap record from May. Chainalysis Plans to HODL The data provider announced its latest investment in a blog post today and simultaneously confirmed a new partnership with NYDIG. NYDIG is a Fintech service provider for banks, corporations, and institutions. The financial company has allowed Chainalysis to add…
Blockchain is a horizontal innovation whose impacts are spreading like a bushfire leaving a mark wherever it touches. The technology has been around for a little over a decade, and innovators are constantly looking for ways to use it in various industries.
The technology has been most disruptive in the financial, health, and supply chain sectors. But, away from these mainstream industries, blockchain technology offers some interesting use cases. Let’s have a look at some of them below.
Blockchain in Charity
In the wake of a declining faith between charitable organizations and donors, blockchain technology has several suggestions that will help rebuild the trust between the organizations, donors, recipients, and stakeholders.
Though most charitable organizations release their financial reports regularly, tracking the public’s funds is still a big issue. Besides, scandals arise from time to time concerning funds mismanagement. This has killed the public’s faith in these organizations.
Blockchain Charity Foundation
Blockchain charity foundation (BCF) was founded in 2017 by Binance digital asset exchange. BCF uses blockchain technology to allow the public to participate directly while monitoring the flow of donations from a commitment to actual contribution.
In essence, all charity records and allocations appear on Binance Charity’s website with a Transaction ID (txid). Each project has its page where the information is shown. By simply clicking on the Txid, you can track a transaction movement on Binance or other connected blockchain explorers. This way, you can see when a transaction is made and how much funds were transferred. The BCF rides on the permanent feature of blockchain to ensure all records are tamper-proof.
BCF is currently in partnership with the AFRIpads in a project that will introduce its Pink Care Token.
Blockchain in the Cannabis Industry
From product quality assurance to consumption-related law enforcement, blockchain promises a better future in the cannabis industry. Innovators in the cannabis industry use blockchain to explore how products can be safer and more efficient.
DMG Blockchain is a Canadian-based blockchain company founded in 2011. They are among the front liners in bringing a blockchain solution to the cannabis industry’s problems, including abuse, quality tampering, and fake deals. DMG Blockchain is also partnering with IBM to develop Wazabi – a global blockchain platform for regulated products like cannabis.
DMG Blockchain focuses on building cannabis industry partnerships first in Canada and later to the rest of the world. Blockchain use cases in the industry include verifying labels, automated reporting authorities, and transparency of supply chain from producer to consumer.
Unlike other blockchain players in the cannabis industry, DMG Blockchain is yet to conduct a fundraising event.
Blockchain for Celebrities
Watafan is a platform built on RSK blockchain that allows celebrities to create digital trading cards known as watacards. The platform uses smart contracts to protect the intellectual property of artists and celebrities. While on the platform, celebrities can:
- Gift watacards to their fans as prize or autograph
- Sign the cards cryptographically using their wallets
- Receive shares for every watacard traded by your fans
The main problem that Watafan aims to address is copyright infringements that cost artists their revenues. Watacards are cryptographically secured to help celebrities maintain their likeness and make a profit out of their talents.
RSK blockchain allows the creation of watacards which fans can trade. Watafan creates a transparent global market where users can verify the validity of watacards and securely trade them.
Blockchain in Dating
The dating scene has evolved in several different forms over the years. This century undoubtedly belongs to online and applications dating. For example, the Tinder app has about 50 million registered users and over 10 million active users each day. Realizing the potential, blockchain enthusiasts have moved to improve the industry.
Viola.AI is an online dating platform that has been around for the last 14 years. However, the development team has been integrating blockchain technology on the AI platform to make it more effective.
Viola REL-Registry is a registry built on blockchain, verifying the user’s identity through visual recognitions and social media checks to ascertain their relationship status.
From their experience after setting up online and offline dating sites, developers Violet Lim and Jamie Lee observed the following concerns that they sort to address:
- Most ladies prefer offline dating services for their strict screening of members.
- On the other hand, men go for online platforms to easily access ladies’ profiles and photos.
In essence, Viola REL-registry seeks to solve the above problems of gender ratio imbalance in most dating apps, privacy issues, and to do away with fake profiles.
Blockchain for Brotherhood
Nowadays, people have become too busy that checking out on your brother is slowly fading. In other words, today’s generation doesn’t care about how others are coping. Depression cases are spiking worldwide. Many people out there are struggling with self-esteem and personal issues, and no one seems to care.
What is FUCK TOKEN?
Created in 2017, FUCK Token is a community cryptocurrency that strives to help people worldwide “give a FUCK” to brothers and community members struggling with personal issues.
Essentially, as a way to show your brothers that you care about them, you can give them a FUCK by sending FUCK token tips to their wallets and watch them smile.
The main point of FUCK tokens is to bring humanity and care back to the community in today’s busy world.
Undoubtedly, blockchain and cryptocurrency are revolutionary technologies of the 21st century. Given the first successful implementation of the technology (bitcoin) was in finance, many people often associate blockchain with finance.
Contrary to this, as seen in the above paragraphs, blockchain is now penetrating every aspect of life, using cases in the most unexpected industries. Today, everything seems to be block-chainable. From charity to cannabis, celebrities to dating and community, blockchain has incredible potential to transform the world and, all things considered, better days lie ahead thanks to blockchain.