Blockchain is a vastly promising technology that goes beyond its obvious use case of cryptocurrencies. In recent years, hundreds of blockchain startups appear every year. However, most of them fail to make the mark. Few have truly succeeded in making an impact on the blockchain industry. Before we countdown the most promising blockchain companies to pay attention to in 2020, let’s familiarise ourselves with blockchain technology.
Features Of Blockchain Technology
Blockchain is a highly secure system because of its use of cryptography. Hence, this system is secure, convenient, and tamper-proof.
Data stored in several places is immune to hackers. It’s not that easy to get access to it.
All network stakeholders are informed of any transactions. This is both convenient and trustworthy.
No Hidden Fees
Forget about fees and commissions. There’s no need to pay intermediaries because of a decentralized system.
Users have to choose between public blockchain networks available for anyone and the ones requiring permission where each node should be authorized first for the user to enter.
Transactions are processed way faster than traditional methods. There is no need to include payment systems. This reduces the cost and increases the processing speed.
Participants check and confirm the validity of transactions. They also confirm their authenticity.
Businesses can apply blockchain in a big variety of spheres. This is why many are interested in investing in blockchain startups. Moreover, there is a variety of blockchain business opportunities. There are many FinTech companies. However, this is not strange because FinTech and blockchain are closely connected.
Of course, we can show only a small incomplete list of areas that are using blockchain. The potential of the technology is not fully utilized. Many blockchain startups can still become successful and make a breakthrough in the financial, managerial, or commercial spheres.
Most Promising Blockchain Companies
As we can see, there are many blockchain investment opportunities now. Here, we have gathered information about the top blockchain companies and blockchain startups. These FinTech companies are the ones to watch in 2020, whether you are looking to invest in blockchain stocks or looking to enter the blockchain industry.
Provenance is designed to track the history of products from the delivery of parts and product components to their implementation. Using this technology, people will be able to purchase only high-quality goods, getting rid of the risk of acquiring a fake. Moreover, the platform is also suitable for the production and sale of luxury goods and works of art.
Enigma is developing a cloud platform. With this, users can store and share sensitive data without revealing them. Moreover, users will be able to transfer information to third parties to perform calculations, while not decrypting it and leaving it confidential. However, the introduction of technology can significantly affect the principles of storage and retrieval of information.
This startup provides a biometric tool for secure transactions and the protection of confidential information. They designed the platform for authentication so that there will be no sharing of personal data of its users. Nuggets can influence the solution to one of the biggest problems of modern business – cybersecurity.
Gnosis is a blockchain-based forecasting platform. Through this, users will be able to make complex forecasts for a variety of events. They can also predict the outcome of the event and the possibilities of a collective mind with the analytical capabilities of artificial intelligence. People who predicted the outcome of the event correctly can redeem their shares. However, those who made a mistake with the forecast, they burn out.
Patientory’s blockchain project could become a healthcare provider. Its goal is to increase medical results. In addition to this, the project offers healthcare organizations the confidential storage of patient information. Also, through the platform, the exchange of information between the doctor and the patient is possible. Furthermore, the platform can significantly reduce the cost of medical services by accelerating and coordinating the process.
The developers of the OneGram blockchain project create a gold-providing cryptocurrency. Upon launching, they provide coin with one gram of gold. This can significantly reduce the risks of cryptocurrency buyers. A person withdraws a small commission from each transaction with a given currency. With that commission, he will be able to buy new gold. Thus, the value of the currency will increase over time.
Chronicled is an Ethereum-based IoT platform that allows you to associate the physical property with this cryptocurrency for authentication, origin control, supply chain development, and other purposes. With Ethereum, the company plans to introduce smart contracts that will allow real, physical transactions in the blockchain. For example, in this way, it is possible to transfer a physical contract or title, and the smart contract associated with it will automatically change the ownership in the blockchain. Chronicled joins recently formed Enterprise Ethereum Alliance.
BitPesa is a trading platform from Kenya that helps companies and their customers transfer money across borders and continents in the form of bitcoins.
The company’s goal is to use the decentralized principle of bitcoin and relatively low fees to provide people who do not have a bank account to have access to the modern global economy. BitPesa was a money transfer service for Kenyans living abroad. Subsequently, it shifted its focus to trading.
9. Blockstack Labs
Blockstack Labs is developing a blockchain-based web browser. Browser users control data and decentralized applications running on their devices. Furthermore, the company believes that by getting rid of the traditional model of centralized servers and cloud services, it will be possible to eliminate the attacks associated with this and set a new standard for privacy on the Internet.
The largest investors of Blockchain Labs are Naval Ravikant, Digital Currency Group, Union Square Ventures.
Voice, a social blockchain-media platform, is being developed for musicians, bloggers, and journalists. For example, the platform will allow musicians to sell their works directly to the listeners, without intermediaries. Hence, users will be able to publish their content, using the immutability of the blockchain to circumvent copyright. Moreover, there will also be an opportunity to collect donations. All transactions will allow Voice users to receive all income without loss and commission deductions.
Areas Where Blockchain Can Be Applied
It creates unique digital identifiers and certificates of authenticity. This is suitable for people of creative professions, scientists, etc.
Simplify records management and capture information about important business processes.
Anonymous financial transactions without intermediaries in the form of financial institutions.
Purchase And Sale Of Goods And Raw Materials
Safe and simple transactions for the acquisition of precious metals, assets, etc.
Verification Of The Uniqueness Of The Content
Determination of the authenticity of copyright material (picture, book, film, etc.). Furthermore, confirmation of digital identity.
Systems management, data analysis, and problem-solving value added in the energy industry.
Simplification of interaction between individuals and government agencies.
Internet Of Things
Optimization of trading and search processes using blockchain technology.
Blockchain is one of the fastest-growing segments in the field of digital technologies of the future. This is proven by the explosive growth in the number of vacancies in this sector. Undoubtedly, the possibilities of blockchain technology are of interest to many industries. Furthermore, it is obvious that in the coming years, the demand for blockchain specialists will continue to increase.
Most In-Demand Blockchain Jobs
Blockchain Information Security Expert
Security is of the utmost importance when creating blockchains. Indeed, an information security expert occupies one of the most sought-after positions.
PayScale data indicate an average salary of $108,000 for blockchain developers. However, the requirements may vary depending on the underlying platform on which the blockchain specialist will work, and also the programming language.
To work in a blockchain company, a web developer needs experience in working with projects using open source code. This includes experience with Github and deep knowledge of C++ because most projects are written in this language. Also, other requirements may include basic knowledge of mathematics and algorithms. Moreover, a web developer must have an understanding of various web technologies such as a server, client, and programming socket.
Blockchain analytics collect, analyze, and manage data using statistics. Hence, the job prospects are excellent. In addition to this, the expected increase in demand is 19% by 2026.
Blockchain Marketing Specialist
Many blockchain service companies are starting to add marketing processes to their operations. Accordingly, they are opening a job as a blockchain marketer.
Blockchain Project Manager
Creating a blockchain is a complex process that requires precise coordination of many layers of information. Moreover, the timely support of various employees and customer representatives is crucial.
For any serious, professional, and large-scale blockchain, at least one web designer is required. In general, many jobs in the blockchain are associated with the website. For example, most apps require a well-thought-out and intuitive website. That is the task of the web designer. In addition, they represent the artistic side of web development.
By ensuring compliance with local and national laws, a risk analyst solves many problems. In addition to risk assessment, he helps in programming and improving products, conducting information analysis, or maintaining documentation of innovations and projects. Moreover, the necessary skills, as in the case of a product manager, are 90% dependent on the specifics of the company. However, in all cases, a good understanding of the design, technologies, and certain programming languages are required.