Although Bitcoin has been around for almost a decade, it is only recently that blockchain technology has really started taking off. Bitcoin was created simply as a Peer-to-Peer electronic cash system, allowing for transactions to be processed without the need for a trusted third party.
Now though, new projects are actively being developed at such a rapid pace it’s hard to keep up! Using the same underpinning technology as Bitcoin, and using the huge success Bitcon has had as motivation and confirmation the technology does indeed work, projects are being developed to solve an unimaginable amount of problems in the real world.
We have wrote at length in other articles on bitGuru about the implications blockchain technology could have on the world, society and business. The solutions it could bring to millions is absolutely astonishing and a revolution is in the early stages.
Augur – Augur is one of the blockchain projects being developed in an attempt to predict future outcomes! Based on the idea of “The Wisdom of the Crowd” which states that the average prediction made by a group is superior to that made by any of the individuals in that group. By allowing users to bet on outcomes using the cryptocurrency REP and then analysing the number of bets on each outcome, the one with the most bets should, in theory be the one most likely to happen. An exciting concept if it’s accurate! Currently in Beta mode, the platform is one to watch in the future!
Read more about Augur – Click Here
Steemit – A blockchain based social media site, similar to Reddit, but incentivises users and content creators with their cryptocurrency Steem! Steem dollars are earned when a posted piece of content is ‘liked’, and users who like the most popular in the early stages are also rewarded! These Steem dollars are then used to convert into the cryptocurrency Steem. The idea is very interesting and so far the platform is doing well and growing quickly!
Read more about Steem – Click Here
Adshares – Currently in it’s ICO stage, the team have already raised 103% of their target! The concept is to use blockchain technology to revolutionise the digital advertising market. Currently, online advertising giants hold a monopoly over the industry, taking huge amounts on profit, charging merchants huge amounts of money and giving those publishing the ads a tiny percentage of the revenue. Adshares aim to remove the middle man, creating a distributed marketplace where both publishers and advertisers can connect and trade using the cryptocurrency token directly between themselves.
Read more about Adshares – Click Here
TrueFlip – True flip is the first blockchain based lottery! Although the ICO has just finished, the platform has being running the lottery since 1st April 2017! The jackpot currently stands at a whopping 63.49 BTC – worth £175,000 ($227,000 USD)! It’s a much fairer and quicker version of traditional lotteries, with the winnings being paid instantly into your Bitcoin address.
Read more about True Flip – Click Here
KickICO – Although the ICO hasn’t begun yet, the project is aiming to use blockchain technology to improve and innovate upon the crowdfunding industry, making it more accessible by helping entrepreneurs find the resources and support they need to make their idea a reality. Combinging knowledge with funding through blockchain technology has never been done before and KickICO have an exciting future.
Read more about KickICO – Click Here
Hopefully you’ve got the idea that cryptocurrencies and blockchain technology can be used for a whole lot more than just exchanging digital cash. There is a whole world of undiscovered territory and we’re currently witnessing the foundations of this new world being built. It’s going to be luxurious, with hundreds of millions, if not billions to be made, but it could all come crashing down even faster than it’s rising!
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