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Blockchain is an innovation that has disrupted business and technology in unimaginable ways. The technical definition is that these are evolving records, resistant to modification and based on cryptography. This is, of course, a simplified way to describe blockchain — the intricacies of the technology can be challenging to grasp even for software developers.
Still, despite some of its unclear aspects, blockchain startups have been leading the way in 2018-2019. As of now, worldwide spending using blockchain is predicted to grow to $11.7 billion in 2022, from $1.4 billion in 2018.
After a global economic crisis in 2008, many financial analysts and business experts started speaking up on the unreliability of centralized institutions. It’s hardly a coincidence that a renowned white paper by Satoshi Nakamoto on bitcoin appeared that same year. Decentralized currencies, data storage, and organizations can be a way to prevent future financial crises.
For one, blockchain allows recording asset ownership and value in the immutable edge, there will be no speculation or corruption. Also, capital flows will be transparent and easily traceable by the public. Regulators will easily get information on asset liquidity and have a clear idea of financial risks.
Such technology would be beneficial to any field as it would increase the transparency of transactions, store personal and product histories, protect against fraud, and prevent data leaks.
Even though Fintech is still blockchain’s prominent adopter, the technology is quickly used by other fields, from healthcare to supply chains. Let’s take a look at the top blockchain startups in various industries and see how blockchain helps solve pressing issues of these fields.
MakerDAO is an open-source fintech protocol that allows businesses and organizations to adopt decentralized transactions. The main purpose of the protocol is the emission of DAI stablecoin where one DAI is worth 1 U.S. dollar for collateral ETHs with the coverage ratio of 1,5.
All businesses and Maker users enter one of the largest Ethereum communities. The transaction is approved only when all participants confirmed the transfer. On its official website, the team states that DAO protocol was the first decentralized finance protocol to see such active adoption.
The Maker protocol is actively used by financial organizations to shorten the duration of international transactions and access global markets. Global trade providers can use DAI to cut off intermediaries and bypass typical banking commissions. Gaming developers use DAI to enable blockchain transfers in their games and create new player-behavior schemes.
An Ethereum protocol for asset management that automatically derives an asset’s interest rate, analyzes supply and demand statistics and provides transparent information. Suppliers and sellers can follow the fluctuations of interest rates of crypto assets before making an investment, negotiate trade terms, and create immutable documentation.
The protocol was already included in dozens of user-friendly interfaces and crypto investment apps, including Coinbase Wallet, InstaDapp, Multis, Argent, and others.
A decentralized protocol for supply chain management and coordination. The participants of the supply chain can exchange data, verify their partners, keep track of professional relationships and reputation, and conduct commissionless transactions.
Centrifuge main scope is to increase trust between supply chain partners, providing them with automatically updated verified documentation, trade statistics, financial analysis, and strengthen their connection with suppliers.
Uniswap is an exchange protocol that provides an intuitive interface for Ethereum-based cryptocurrencies and tokens. Users are offered a simple interface, where one field is responsible for the available currency, and another — for acquired one. With three clicks, visitors can exchange their currencies and validate the transaction with an automatic smart contract.
For now, Uniswap is in a beta test version. The solution is sponsored by the Ethereum Foundation grant and will likely be further developed.
A decentralized protocol for insuring synthetic assets — products that derive from physical assets, documents, equity, etc. These synthetic assets act as a copy of the original product and are used as a temporary substitution during crypto transactions. Synthetix allows creating synthetic assets and their tokens, connecting them to smart contracts, and protecting their value with crypto keys.
Users receive compensation for participating in Synthetix transactions. All operations are done in Mintr — a decentralized application with personal activity, updated tokens, and new offers.
Blockchain allows companies to track the progress of moving products in the chain. The supply chain data is stored in a safe database and transmitted to the devices of all process’ participants. Also, blockchain supports seamless payments, including cross-border transfers. Cryptocurrencies don’t require high banking fees, which makes them a perfect fit for international suppliers — this, among other aspects, explains the rising popularity of blockchain-based supply chain solutions.
This startup focuses on preventing counterfeiting by attaching a unique key to the product after each transaction. Blockchain stores full records of all transfers, allowing to track the origins of the product. For supply chains, Blockverify provides a possibility to verify their goods or find stolen merchandise.
The app creates a supply chain’s permanent history, stored in blockchain nodes: blockchain’s data can’t be modified; once the transaction was completed, the data is forever stored on the block.
The startup is focused on verifying the validity of the luxury items by recording their transportation details and determining the origins.
Everledger creates a digital copy of a physical item and stores there all records on the transportation of the item, as well as the financial details of transactions.
A supply chain management service for developing markets that target carriers and shippers, allowing them to get detailed history and forecasts of product logistics, track the performance, and receive real-time statistics.
The platform connects shippers and business owners, allowing both parties to see the most convenient offers. The service integrates a bidding system, where business owners place their offers and shippers specify the rates, from higher to lower.
Insurance provides and clients face many issues with data safety, availability, and documentation. Right now, the cooperation model is based on multiple middlemen who evaluate the damage, compile the documentation, pass it to another middleman, and so on. The best blockchain startups have the potential to eliminate this unnecessary intermediate channel and give clients more control.
A decentralized insurance protocol that automatically fills out documentation, verifies conditions of the deal. Ethereum-based smart contracts specify the insurance conditions: when theу are met, a smart contract initiates a payout. The protocol is used for accident, weather-based and travel insurances, as well as crypto trade and smart contract protection.
The protocol can be used for traditional insurance cases — protection from certain weather conditions, accidents, social or health care issues. However, the revolutionary impact of Etheric is that it also provides protection to blockchain developers and crypto enthusiasts: blockchain users can secure their wallets and crypto-backed loans.
A peer-to-peer insurance app where users are united in groups that split insurance costs. After a user submits a claim, the team votes on its costs and decides to pay for the damage. This insurance model is an alternative to typical company-customer interaction because it chooses to rely on the user community instead.
Each team member has the power to control the decision and evaluate how much the claim is worth. Unlike traditional insurance deals, this one doesn’t require so much cooperation and evaluation — mutual trust lies in the core of the deal.
A home insurance provider that evaluates the belongings of users and comes up with personalized price plans. Customers don’t have to pay for overpriced generalized tariffs. The company partners insurance providers and executes deals via smart contracts.
Buzzvault emphasizes a personalized approach to insurance, allowing users to determine how much their insurance will cost. Providers, on the other hand, get video confirmation of stated belongings.
Piprate provides blockchain data-wallets where a user can store all available insurance data and insurance that it doesn’t get leaked. Data wallets are connected to insurance providers’ sites or apps via crypto-protected APIs.
Piprate uses blockchain encryption and cloud storage to store personal information of customers and insurance companies
Blockchain appeals to healthcare with its secure decentralization: it would allow storing medical records on the multi-device network rather than in a single database. Patients can have a transparent view of their records, treatment plans, and costs. All medical data would be available in real-time and transferred from one hospital to another if a patient changed locations.
Let’s see how existing blockchain technology startups are applying blockchain to solve healthcare’s security issues and make medical documentation faster and clearer.
A blockchain mobile application that provides access to medical data from U.S. hospitals and clinics. The startup creates a personal profile with all medical records, fills out consultation forms and transfers them automatically to the hospital’s database, and provides real-time updates on treatment.
The app is a personal medical assistant that safely collects, stores, and transfers medical data via crypto-based encryption and decentralized databases.
A personal assistant that transfers data from medical databases to the personal devices of a patient. The platform connects healthcare organizations, institutions, doctors, and patients and promotes transparency in medical documentation. Patients have a visual representation of their medical history as well as a clear explanation of its meaning.
The app’s goal is to help patients prevent chronic illnesses by taking better care of their health, regularly measuring key characteristics, and getting medical expertise.
The startup provides real-time access to medical records and insurance data. The platform connects patients, hospitals, pharmaceutical companies, and insurance providers. Healthcare providers can initiate direct contact with patients for research purposes, while patients always have access to updated records.
The startup isn’t just focused on creating the full digital identity with a personal medical history, but also aims to bring transparency to insurance deals and pharmaceutical purchases.
In real estate, the cost of the decision is very high. To protect themselves, all involved parties require multiple documents, confirmations, and personal meetings. Buying property abroad is even trickier because a client has to comply with legal requirements and verify financial credibility. Middlemen are typically involved at every stage, which leads to high commission fees.
Blockchain’s decentralization shows a lot of promise for resolving these industry problems. Let’s examine the most promising blockchain startups in real estate.
A transparent real estate platform that enables clients to connect directly to real estate owners with no intermediates. Clients have personal profiles with their property preference, contacts, messenger, search histories — all the data is stored in the decentralized database.
The platform supports sale and rent offers and sorts of property by neighborhood, streets, and buildings.
A blockchain-based network for real-estate investments that target investors, managers, and intermediaries, allowing them to find partners for their deals.
The platform collects all financial data into a separate profile, provides detailed information on the investment objects, and connects all participants on a single site.
Meridio is one of the leading blockchain startups that allow property owners to create and distribute digital shares of their property. The profit, received from the real estate, is distributed between the property owner and the shareowners.
Meridio is compliant with investor verifications such as KYC and AML and uses proof-of-ownership for transaction validation.
Although the energy industry is normally slow at adopting digital innovation, blockchain is already being used for peer-to-peer energy trading, global trades, and cryptocurrencies for energy deals. Let’s see how energy companies already began to use blockchain to transform the market with the help of blockchain for startups.
The startup enables peer-to-peer energy exchange between local communities. Learners can transfer their electric and gas energy to neighbors and receive cryptocurrencies or traditional payments.
Power Ledger is focused on making renewable energy accessible to people who don’t have the means to install solar panels or windpipes. Instead, they can receive this energy by supporting people who have natural energy sources.
An energy-saving service where users are rewarded for each watt-hour of renewable energy, generated by their household. These cryptocurrencies can be exchanged on add-ons to their energy equipment and premium content.
Users who produce huge amounts of green energy also receive access to Greenun’s SAAS platform for energy management, production predictions, and maintenance tools.
An American service for sustainable energy purchases directly from its producers without using retailers’ services. The application encourages users to minimize energy waste by rewarding them with custom coins.
For energy trades, applications execute the transactions via Ethereum-based smart contracts.
An open-source distributed energy market that allows transparent trades between providers and consumers of eco-energy.
To maximize its impact, Grid Singularity created the foundation for energy exchanges that unites several dozens of blockchain startups and energy providers, helping more areas join the community.
In retail, blockchain assists consumers, suppliers, and retailers to create transparent relationships. Consumers will verify the authenticity of acquired products, suppliers can optimize the process of product delivery, while startups using blockchain enable online crypto-based transactions and explore global markets by conducting international payments with no commission fees.
The startup allows e-commerce stores to personalize their interactions with end-clients, providing to them detailed information on the product’s origins and supply chain progress.
The service is now used by thousands of e-commerce brands all over the world, including Unilever and Sainsbury.
The platform collects and stores personal data of an e-commerce store’s visitor, assembling it in an intuitive profile. The software automatically generates personalized content and comes up with insights for improving marketing strategy according to the audience’s interests.
The platform has a custom token, $SHOP, used to upgrade the platform and acquire additional services.
A blockchain point-of-sale and its supporting infrastructure that allows customers to make crypto payments in physical stores and enables business owners to accept these transactions. The company partners retailers, payment providers, governmental organizations, and banking institutions.
Pundi X positions itself as a 7/11 of digital currencies: the fastest and most convenient way of making crypto payments and exchanging currencies. With physical devices, blockchain APIs, and a versatile infrastructure, the company really has promising possibilities for global exposure.
In 2018-2019, we’ve seen a huge rise in the hottest blockchain startups — and the technology keeps attracting investors all over the world. In 2025, blockchain tools are likely to become a part of our everyday lives and not be a disruptive technology anymore, but a must-implement practice.Blockchain’s safety and transparency attract developers, investors, and providers from different industries. The technology has infinite potential to disrupt many fields, from energy to supply chains. Any niche that has to do with data and monetary transactions — which practically means any business — can benefit from blockchain’s global availability and immutability. If you have an idea for a blockchain startup in mind, drop us a line — our blockchain experts will contact you shortly.
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