Until now, Blockchain technology is not new to each of us. If you are a person working in the field of technology, you must have understood them all too well. Blockchain, Bitcoin, and digital currency became a topic of discussion in many newspapers and people’s conversations. So what are the most potential Blockchain development projects you should consider investing in? For smart investment strategies, you can’t miss the following article by Omatech.
What is Blockchain?
Before finding out about the most potential Blockchain development projects, let’s have an overview of Blockchain.
Blockchain (or ledger) is a database system that allows the storage and transmission of blocks of information. Thanks to encryption, they have a very close relationship and connection with each other.
These information blocks operate independently and can expand over time. System participants will control them instead of using intermediaries.
That is to say, a block of information written to the Blockchain system cannot be changed. If you have a request to add information to the Blockchain, everyone needs to agree to this request. The block of information we are talking about is the actual exchanges and transactions.
What are the uses of Blockchain?
Blockchain technology brings many valuable benefits and applications to our lives. Here are its applications and uses. Blockchain development projects are mostly based on the following main uses.
Efficient supply chains are at the core of many successful businesses. It involves the handling of goods from supplier to consumer. However, coordinating multiple stakeholders in a given industry has proven difficult. Using blockchain technology, an interoperable ecosystem built on an immutable database can bring new levels of transparency to a multitude of industries.
Sending money abroad is a hassle when using traditional banks. Remittance fees and settlement times make it expensive and unreliable to make urgent transactions. That is mainly due to a complex network of intermediaries. Cryptocurrencies and Blockchain eliminate this middleman ecosystem. And a series of Blockchain development projects in this area will facilitate users to transfer money quickly and at an affordable price.
Gamers are effectively under the control of the companies that manage the servers. End-users have no sincere ownership. Moreover, in-game assets exist only in games. Instead, by choosing a Blockchain-based approach, users own their assets (in the form of exchangeable/non-exchangeable tokens). Blockchain, of course, allows gamers to exchange assets between different games or markets.
The transparency and security of blockchain technology make it a perfect platform for storing medical records. Management of the healthcare industry (including hospitals, clinics, and other health care providers) is unbelievably fragmented.
On the other hand, the dependence on centralized servers makes private personal information difficult to control and easy to leak out. By securely encrypting hospital records on the Blockchain, patients can ensure their privacy. Meanwhile, they can also share their information with any organization that has access to the global database.
The world is in dire need of a personal identification solution for the digital age. Physical identities are prone to forgery and are not available to many individuals. Thanks to Blockchain technology, users will be accurately identified and have reputable information in transactions. People will trust each other more.
The Most Promising Blockchain Development Projects in 2021
Topping the list of the most potential Blockchain development projects in 2021 is the TradeLens project of transport group AP Moller-Maersk.
The shipping company AP Moller-Maersk (APM-Maersk) is headquartered in Denmark. Founded in 1904, AP Moller-Maersk is leading global transportation, logistics, and energy services. Currently, the company has a fleet of about 713 container ships with a total capacity of nearly 4.1 million TEUs.
AP Moller-Maersk’s Blockchain development project is TradeLens. Although just launched in August 2018, TradeLens has quickly attracted the attention of developers and technology investors. The main purpose of Tradelens is to encrypt supply chain information and enhance the efficiency of trading operations.
The Tradelens project has brought nearly 50% of the world’s container ships to the Blockchain system. Approximately 1 billion shipments, 30 million containers, and more than 10 million documents were successfully handled by the TradeLens project in 2020. Figures for 2020 show that AP Moller-Maersk’s Blockchain development project has tripled in revenue. And twice as many successful transactions compared to the previous year. Moreover, the Partner of this shipping giant is Microsoft. Together, the two sides have leveraged blockchain technology and conducted efficient marine insurance processing.
Google of China – Baidu has long believed in the development of blockchain technology. Du Xiaoman Financial is Baidu’s related fintech venture. Baidu along with Du Xiaoman Financial have created 20 attractive Blockchain development projects. The search giant of the country of billions of people recently completed the beta version of Libra Chain.
The goal is to help businesses and individuals solve mainly e-commerce and copyright disputes. This Blockchain development project is a pretty cool solution for virtual lawsuits.
Wei Xiao has led and implemented the Libra Chain project very effectively. The proof is that it has assisted businesses and individuals to successfully file more than 35 million electronic proofs at the Beijing Internet Court.
One of the most potential Blockchain development projects in 2021 that we want to suggest to you next is Boeing’s SkyGrid project. Boeing is the world’s number 1 aviation corporation and also the world’s largest aircraft manufacturer. Its headquarter is in Chicago, Illinois, USA. Boeing has the largest factory area on the planet, enough to accommodate giant flying buildings.
Boeing’s HorizonX joint venture has invested a lot of money, manpower, and effort into the development of SkyGrid. It acts as an air traffic control system in the form of the ultimate Blockchain technology.
The aim of this project is to control and monitor the operation of the unmanned aircraft system. Another great advantage is that SkyGrid has successfully obtained FAA (Federal Aviation Administration) approval. The FAA has provided the SkyGrid project authorization certificate for a reasonable altitude for drone pilots.
SkyGrid also has fair use version support on iPad. SkyGrid develops a permanent data record to support industrial inspection and distribution of goods. By leveraging the power of blockchain platforms like Hyperledger Fabric and Go Direct, SkyGrid has the potential to power autonomous flying taxis of the future.
In short, many other potential projects have not appeared on this list. The growing interest in blockchain is one of the reasons for the emphasis on blockchain projects at present. Above all, Blockchain is open source in nature. You can consult and search for ideas or projects that are right for you or your company.
Above are the three most potential Blockchain development projects in 2021 that Omatech has just shared with you. As Blockchain technology develops, you should consider investing and developing a reasonable Blockchain idea. It will be a worthwhile investment if you know how to seize the opportunity.
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