What Businesses Are Using Blockchain Technology?

Date: 2020-01-03

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Bitcoins are gradually gaining recognition as currency. Moreover, blockchain technology is getting ground as a legal business platform for each innovative, cutting-edge corporations. Here are some businesses who are using Bitcoin as well as blockchain technology.

Nasdaq LINQ

It is a massive step advancing in the blockchain experimentation. Without receiving too practical, LINQ serves as the transaction platform as well as record keeper for Initial Public Offering (IPO) firms.

What advantage does this have for companies as well as Nasdaq LINQ? Nasdaq LINQ eradicates a great deal of authorized, accounting and assistance charges of IPO venture. This type of blockchain makes a significant antique record of all transactions.

Open-Bazaar

Open-Bazaar is a project to generate a reorganized system for e-commerce online utilizing Bitcoin technology that has no dues and no limitations. It avoids the old-fashioned style of e-commerce in websites such as eBay or Amazon, who need a credit card as well as PayPal, and openly joins the buyer as well as the seller. It eradicated the middleman by using a third party organizer to facilitate the exchange of things.

How does OpenBazaar work?

To retain buyers and sellers secure, Bitcoins are used in a multi-signature backlog which is mainly a backlog that only issues payment once 2 of the 3 members decide to and then sign off on the argument. Deals are written and hired digitally and costs are seized in the multiset till the things reach and all are in-contract. This avoids scams and permits a 3rd party organizer to moderate arguments.

Ujo

Ujo creates a home for entertainers that lets them be specific and regulate their innovative content and be rewarded for sharing their talents in front of the world. It observed the tension among editors, labels, PROs, politicians, DSPs, musicians, and followers and move forward to rethink the industry of music through blockchain technology.

The first model they formed to reveal proof of idea was Tiny Human via Imogen Heap. Team members of Ujo utilized the Ethereum Blockchain technology to help the purchase approvals to download, remix, sync, and stream the song. Costs were mechanically divided on the blockchain and led directly to the singers without the middleman.

A Future with Bitcoin

Can Blockchain change the world?

We are living in a world in which our online IDs are under the control of the government, central banks, and social media, and we trust them to retain us safe. Blockchain identities put you in control. Therefore, you can store your PINs and other personal data safely on the blockchain, eradicating the necessity for PINs in all from Skype to Twitter, and Facebook. In upcoming life, these ID facilities could be useful to government facilities, drug and other record-keeping organization.

The actual potential of the blockchain network originates from its base of delegation, transparency, as well as an unlimited market. It occurs to fight greed and retailers and to provide people with complete control of their character and action.

In a predictable future of blockchain, we will get a world in which our therapeutic records are directly accessible if we have an accident; where voting was conceivable on the internet; and where transparency was dominant and voracity is disincentivized.

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