8 Blockchain Startups To Watch In 2020
Blockchain has inspired entrepreneurs around the world to create hundreds of innovative projects based on new technology, which have the potential to disrupt a variety of industrial sectors.
Investing in these companies comes with significant risk. Among other dangers however, given that initial coin offerings are still unregulated.
Here are some projects you should know about.
Crypto.com
Crypto.com, based in Hong Kong, is a payments platform that aims to increase credentials through various payment channels, including Visa (VISA) cards, promising low fees and better execution prices.
The platform offers many cash services, although mostly in Asia currently. There is also a crypto portfolio with cash refund features and a Visa card supported by the MCO token. Other features include Netflix network subscriptions and free Spotify services for cardholders, where users who pay for their subscriptions using the Visa (MCO) card can get a full discount on the cost of the subscription.
The Visa service makes it easier for users to convert digital to traditional currencies and vice versa, and there are videos on YouTube showing its viability.
SaTT
SaTT makes it possible to carry out advertising transactions on blockchain. The project is supported by a team that has been working together since 2011 as Facebook developers. There are currently 4,000,000 users of their applications.
The SaTT team claims to have made a decentralized application able to work with YouTube to carry out transactions between influencers and brands. It has also developed an easy-to-use wallet and a decentralized exchange.
THORchain
THORchain is a digital platform that allows digital assets to be exchanged without writing them on the currency blockchain, which allows users to trade currencies faster. THORchain also provides lending and borrowing systems backed by users’ assets, as well as a network of financial liquidity shares to obtain profits.
THORchain, built as a multi-blockchain protocol, consists of side chains “TokenChains” and the master “MerkleChain.” The team has also designed BEPSwap, which will enable BEP2 coin owners to exchange and share assets. It intends to release several applications compatible with many blockchain projects.
BDAM
BDAM is a project of the BDAM Foundation, aiming to boost crypto adaption and acceptability by creating a comprehensive financial ecosystem that consists of banking, decentralized trading, an EOS based payment gateway, a dedicated dApp distribution store, and a remittance engine.
BDAM has already launched a hybrid crypto-asset exchange BDAMX that allows trading in EOS, ETH, BTC, and USD Markets simultaneously. Similarly, it has launched BDAMPay, which enables users to spend their cryptocurrencies across merchants and eCommerce platforms. BDAM has started 2020 strongly, entering into partnerships that allow consumers and merchants to spend crypto across 900,000 stores and global brands.
Perlin
The Perlin Network is a DAG-based protocol capable of establishing a decentralized computing layer that provides massive computing power to any application. Perlin seeks to solve the inherent scalability shortcomings with both Bitcoin and Ethereum.
For example, the proof of work requirements for Bitcoin use large amounts of electricity to perform complex calculations and reach a consensus. Ethereum on the other hand plans to move to the approval mechanism through participation (proof of stake), which, although energy-saving, is vulnerable to security attacks.
Another problem with the consensus mechanism is the massive amounts of computing power required, which emerging companies cannot afford due to cost.
The Perlin Project seeks to address these problems by providing robust cloud computing through underutilized computing power in everyday smart devices, paying device owners to access their spare compute power.
SINOVATE
SINOVATE says it has invented a unique e-governance system called (RSV), which permits voting rights to major coin holders. In the future, Incorruptible Data Storage (IDS) will provide decentralized cloud storage, leveraging thousands of Infinity Nodes, with guaranteed low cost and high security.
SINOVATE had no ICO or pre-mine of SIN coins, unlike many other blockchain projects. Multi-asset creation on the SIN InfiniteChain, proof-of-integrity, proof-of-inheritance, tri-hybrid consensus are innovations on the horizon.
GCA
The Global Crypto Alliance is a network of experts well-versed in the world of crypto and specialized in decentralized business development and blockchain ecosystems. It has implemented the latest ERC777 standard into its coin, named CALL. The alliance has also launched GCNews.io: a news outlet that wants to build a publishing aggregation network driven by its global news mobile app, BitReader GO 1.0. Another of its projects is GCSecurity.io, which built CALL—the very first ERC777 smart contract.
Developers are working on an easy-to-use system whereby users can be granted access to devices by paying with CALL to the owner’s ETH address. A development that will also facilitate usability, boost user confidence, and ultimately result in adoption with the security and trustless nature of the blockchain.
Digital Asset & Commodity Exchange
DACX is a London-based blockchain firm, based at the technology accelerator LEVEL39. In 2019 DACX was one of eight shortlisted firms selected by FCA-lead consortium of regulators “GFIN” for a cross-border testing cohort. By introducing innovative products for institutions, and providing equal opportunities for investors, DACX seeks to provide a bridge between Wall Street and digital assets via divided assets and tokenized commodities.
Another benefit of DACX is that it is the first digital asset platform to give crypto assets an advantage to direct exchange of crypto-USG (USG is US gold represents an ounce of gold) pairs in the market. Users will be able to redeem the physical commodity when desired, which will establish credibility and stability in the digital asset ecosystem.