10 Benefits of Crypto and Blockchain You May Not Know
In the financial sector, crypto and Blockchain can be utilized in various other aspects of life, including education, politics, and charity.
Over the past few years, the currency and crypto market as a whole has grown exponentially. Bitcoin, the most famous of the new digital currency generation, is one of the approximately 1,900 cryptos that is most talked about on the internet. Some users are interested in the potential for its use, given the decentralized Bitcoin system (no banks or parties when involved), anonymity, low cost and fast, and potentially change the financial world in the future. Some other users are interested in making Bitcoin an investment opportunity.
Even more interesting, crypto benefits and usage can go beyond the financial sector. Here are 10 crypto and Blockchain uses that you may not know yet:
Financial management is one of the most attractive ways to use cryptocurrencies. That is why companies like SwissBorg provide opportunities for their clients to manage funds without any restrictions.
According to the SwissBorg website:
“Whether you are an individual client, representing a DAO (decentralized autonomous organization), or a financial expert, SwissBorg is a democratic ecosystem that gives you the ability to be able to manage a portfolio of crypto assets freely and transparently.”
2. Digital Marketing
To increase the relevance of content with the appearance of advertisements, SolidOpinion companies have introduced Engagement Tokens (EGT). In addition, this technology can track the involvement and dissemination of vital information, which makes online advertisers get important information for their research and development needs.
3. Combating Election Fraud
With its transparent, cryptosystem, it can help fight election fraud. Santiago Siri is one of the founders of Democracy Earth, a non-profit organization that designs an application to combine Voting with Blockchain technology. Siri said that with crypto, electoral fraud or other types of corruption involving money is no longer possible. All notes will be transparent for everyone.
“Blockchain cannot be destroyed, no one can change or subvert how sound is stored, and it is very important for democracy,” Siri said.
4. Avoiding Corruption in the Charity Sector
Crypto can be used to avoid corruption in charitable organizations. Because of its ability to maintain corporate accountability, Blockchain can eliminate many of the problems of funding leaks in charities. That’s why the World Food Program (WFP) has used Blockchain to distribute cash assistance safely to people who really need it. There are no third party intermediaries who can play a role in the distribution of charity transactions, and all transaction details are presented transparently to be analyzed by everyone.
5. Environmentally Friendly
If you are an environmental lover, you will be happy to hear that crypto can be used to make the world greener too. For example, Brooklyn Microgrid is the first technology in the world to be able to provide alternative energy sources from Blockchain technology. This project was initiated by LO3 Energy in collaboration with Siemens Digital Grid. But unfortunately, the use of Brooklyn Microgrid is currently limited in the scope of the New York City community. If the project is successful, it is not impossible that LO3 and Siemens will expand to reach a wider area.
6. Transactions at the Travel Bureau
When Bitcoin is accepted by more retailers, many people will have the opportunity to use it in various transactions. One example is the web cheapair [dot] com, a travel agency that provides flight ticket booking services, hotels, car rentals, and cruise ships. The site has received payments with Bitcoin since 2013. With the ease of Bitcoin as a cross-border payment system, users can more easily make payments whenever and wherever
7. Startup Funding
Many Startups now use crypto to fund their ideas, services, and products. Instead of using traditional VC (Venture Capital) funding, or using fundraising sites such as IndieGoGo or Kickstarter, Startup leaders start using crypto as a way to fund their projects and businesses. Because it’s easy to track and earn money this way, crypto is able to revolutionize the overall funding process
8. Ethical Business Practices
Cryptocurrencies can also be used to encourage ethical business practices. Because Blockchain can track every data and transaction with full transparency, businesses in all sectors will be more motivated to be responsible for carrying out their practices according to the rules.
9. Paying Education Fees
Some countries have generally used cryptocurrency as a form of payment, including payment of school fees. According to Futurism [dot] com, universities in Switzerland, Germany, Cyprus and the United States have begun to accept Bitcoin as a means of payment.
10. Augmented Reality (AR)
This last use is the most interesting. Thanks to location-based AR revolutions such as Pokemon Go and companies such as Candy Lab which has paved the way for location-based AR, a new generation of Startups has emerged. Location-based
Augmented Reality will be the future of entertainment media that combines the real world with the digital world.
One example of crypto use in this field was initiated by the company Blendar, which rewards users to see location-based AR experience with crypto money. Fluffr [dot] io is another company that has implemented this concept. They have partnered with Blendar and Candy Lab to drive a revolutionary personal experience and use Blockchain-based payment systems.
As you can see, there are many ways to change every aspect of our lives with crypto and Blockchain currencies. Because cryptocurrencies are gaining popularity in the business world and in everyday life, more and more adoptions may be developed from the technology. Not only is the financial world experiencing a revolution, but almost all aspects of life that require transparency will also benefit from crypto use as well as Blockchain technology.