Despite the obstacles posed by the COVID-19 epidemic and rising economic instability, the year 2020 produced tremendous technological discoveries and hundreds of new businesses. We examined 2.018 blockchain startups to bring you to 6 rising firms formed in 2020. From cryptocurrency and smart contracts to end-to-end traceability, they all build novel solutions.
Companies and technology that might be the new “magics” of the future continue to emerge as crypto currencies and artificial intelligence (AI) transform the world. It’s hard to predict which technologies will become commonplace in the future, but we can be certain that at least some of what’s being developed now will survive the test of time.
Here are a few blockchain firms that have the potential to transform their respective sectors while also making a lot of money.
SafePls is a digital platform based on blockchain technology
SafePls, an Italian company, is developing a blockchain-based digital platform to govern common business procedures. The company’s own blockchain technology may be used to create traceability, safeguard documents, and conduct transactions. The system also comes with capabilities for digital signatures and other forms of authentication. SafePls, for example, provides the Watch to Watch solution to assist watchmakers in tracking their whole supply chain, from manufacture to resale.
XREX
As a TradeTech startup supporting cross-border enterprises operating in developing nations, XREX has made a lot of noise in the blockchain market.
XREX has pioneered solutions like BitCheck and MyXchange to enable merchants and SMEs in developing nations decrease forex loss, obtain access to US dollars, and transition from the informal to formal economy by collaborating with local authorities and financial institutions.
XREX effectively recognised and blocked fraud rings from Russia and Nigeria from utilising the platform in the previous year. This might indicate that XREX is now one of the most secure crypto-fiat currency exchanges in the world.
During a fundraising round in summer 2021, ThreeD Capital Inc., a Canadian venture capital company, invested $400,000 in XREX. ThreeD Capital Chairman and CEO Sheldon Inwentash expressed his delight at XREX’s “commitment to financial inclusivity.”
“By using blockchain technology in a safe, compliant, and user-friendly way, XREX is increasing international commerce for developing economies.” We think XREX has significant development potential and is tackling a fundamental problem faced by cross-border merchants in today’s market, thanks to the company’s technology, international focus, and professional management team.”
Metaverses are becoming more and more real
For decades, the concept of a comprehensive virtual world has been the stuff of science fiction, but today it may finally become a reality.
Given the popularity of virtual worlds like Fortnite and Roblox, where users may converse, trade, and collaborate as avatars, it’s evident that the metaverse’s first phase has already begun. Other virtual worlds include Upland, Sandbox, and Decentraland, which are less well-known.
Blockchain Ecosystems – QubiTech
QubiTech, based in Estonia, uses quantum technology to create blockchain ecosystems. To prevent users from threats, the QubiTech blockchain ecosystems use unique encryption. The startup’s QST and QDT digital tokens are designed to assist network members settle financial transactions rapidly. QubiTech assists banks in developing and implementing digital, secure, and transparent solutions that minimise FinTech operating costs. The company also provides a socio-economic platform that allows private companies and government agencies to maintain transparent conditions of collaboration with their partners by using blockchain-based networks and voting.
What does the year 2021 hold for blockchain startups? To remain ahead of the technological curve, you must understand which technologies and industry developments will have an influence on your business in 2021.
