Blockchain Projects Serving for the Common Good

ELEGRO Ecosystem / April 2, 2019 / Comments: 0
01.04.2019post

No doubt, everyone has heard about blockchain technology having a high potential for banking, insurance and finance spheres. But the reality is that blockchain is widely spreading across many industries not related to finance. Healthcare, food, sports, and educational companies, one by one, begin to use blockchain, thus, proving it really has great prospects.

This promising technology has decentralized and transparent features which redefine the whole way we live. Blockchain has changed how to check the authenticity, interact, buy or sell. It combines internet accessibility with the security of cryptography providing a faster and safer way to establish trust, to store and share data.

In Blockchain we Trust

Elegro, a unique payment ecosystem, has created a series of payment products based on P2P technologies. And we should admit that blockchain technology has become the key to our success serving the corestone for all our solutions. Thanks to the “smart ledger,” we offer instant payment processing, utmost security and fair fees with our crypto payment gateway, exchange, and retail apps.

With this in mind, we’ve decided to write a series of articles on blockchain projects. They will be devoted to both successful startups and those which failed. There, we’ll reveal the success secrets, tell about their goals, and disclose the reasons for their failures.

Keep reading to find out about successful blockchain projects designed to make our lives better.

Medicalchain

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“Open-minded” medicine became one of the first to accept blockchain technologies giving rise to numerous projects on blockchain. In this regard, Medicalchain seems to be the most far-reaching and having great practical use.

Medicalchain is a blockchain-based platform created by a London company for fast, secure and transparent storage and exchange of medical records. The platform uses blockchain technology to build electronic health records and maintain single-true versions of the user data. Different healthcare organizations like hospitals, labs, and medical officers like doctors, pharmacists can request permission to access patient records. Also, they can record transactions on the distributed ledger.

In January, Dr. Abdullah Albeyatti, Medicalchain CEO and Co-Founder, unveiled HealthPassport. The innovative solution was designed to store and utilize patients’ health data within a single repository. The HealthPassport contains Consultations, Immunisation, Allergies, Results sections full of important health-related data.

Medicalchain platform ensures advanced privacy and security for customers. Patients can get full access to their health records and control them. They will be able to provide different levels of access designating who can query and write data to their blockchain. The patients will be the only owners of their data. Only authorized persons will have the ability to “read and write” to the records.

Patients who have tested Medicalchain crypto services are sure they will greatly improve the medicine ecosystem. Using them, everyone will be able to order medicine-related services via the platform using Medicalchain native tokens, MedTokens (MTN).

Video consultations with GB which will be paid for with MTN tokens deserve special attention. During online consultations, patients will grant access to their records for a more informative and valuable medical experience. Patients will be able to choose the level of detail visible and grant/revoke viewing rights to the doctor.

These days, Medicalchain is running the pilot phase of the project in London at Groves Medical Center. The platform launch is scheduled for June 2019.

OpenBazaar

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OpenBazaar is an online marketplace which uses a free peer-to-peer platform to cut off the middleman. The service has no restrictions unlike Amazon and eBay that enforce their own rules taking a cut of each sale. OpenBazaar doesn’t interfere with users at all.

Merchants can easily launch an online store with the platform and customize it according to their tastes. As well, they enjoy real-time chatting with customers. After shoppers download the OpenBazaar software, they can go through a wide choice of goods and services from around the world. In other words, OpenBazaar provides users with the opportunity to “sell anything” globally 24/7/365. Currently, small businesses from many countries including the USA, India, Italy, Brazil use the service. They sell music, games, clothes, video, jewelry, art, local foods and drinks, and many other items.

To start using OpenBazaar, a user just needs to download desk software from their official website. It is available for free and compatible with Windows, Mac and Linux platforms. It’s important to emphasize that the platform is not a company or an organization but free open-source software.

It was launched in Toronto in April 2014. Its original developer Amir Taaki and small team of programmers built a proof of concept for a decentralized marketplace. The software was initially called Dark Market and aimed to substitute popular marketplace Silk Road. But later Amir decided not to continue with the project.

Brian Hoffman became its another developer. He liked the idea of a decentralized market but got rid of its focus on darknet market. He eventually renamed it as OpenBazaar. People from around the world who liked the project helped Brian to develop open-source software. Bitcoin community also supported the network.

Nobody controls OpenBazaar and each user contributes equally to the network being responsible for own store and private data. Shoppers can pay for the goods and services listed on the platform using main crypto coins including Bitcoin.

Now, OpenBazaar is a popular place to buy items for crypto among global customers.

BAT Platform

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Basic Attention Token (BAT) is an Ethereum-based platform to exchange ads that connects publishers, advertisers and internet users all around the world. BAT, an ERC-20 utility token, is integrated into the Brave web browser. The latter anonymously monitors user attention, then rewards publishers accordingly with BATs.

In other words, the Brave browser monetizing user attention. User Attention Value is calculated via Brave-developed algorithms monitoring ads you watch and how long you watch them. Users who opt in the program and decide to watch the Brave adds will get paid in BAT tokens for doing so. The algorithms also track your interests and choose new ads that will better suit your tastes. So, both publishers and users receive BATs thus increasing their revenue while advertisers achieve higher ROI and better targeting.

Both Brave software and BAT were founded by Brendan Eich, who also invented the JavaScript programming language and who is a co-founder of Mozilla Firefox. BAT token gained much attention after it had been listed on Coinbase and Circle. It is worth to note that BAT is accepted by such famous publishers as the Guardian, Vice, Barron’s, Washington Post and Vimeo.

So, if you are an advertiser, a publisher or just a simple internet user, you can easily get extra profit by taking part in BAT-related activities.

Conclusion

Certainly, there are a myriad of other interesting blockchain-based projects. And we are sure that this is just the beginning of the whole story. But what about you? Do you know any other successful projects using blockchain technology for the common good? Or, maybe, you are already using the one described above? Feel free to share your thoughts and experience in comments.

 

All the materials our blog holds have been prepared for general informational purposes only and are not intended to be relied upon as accounting, tax or other professional advice. For business-specific recommendations, please refer to your advisors.

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