20 Game-Changing Blockchain Developments To Watch For In 2023

20 Game-Changing Blockchain Developments To Watch For In 2023

The application of blockchain technology to optimize supply chains, simplify commerce, boost traceability, and improve payment data has piqued attention. The Bitcoin speculating craze aroused a lot of attention since it was constructed on an older blockchain network that has concerns with power usage and performance. Modern blockchain systems have been created to assist overcome these constraints and give actual value for different commercial applications and purposes. Suseel Menon, a senior consultant at Everest Group, an IT advice business, said, “We are seeing various organizations use blockchain platforms for certain of their application needs.” Menon believes that sectors that demand multi party collaboration or data exchange will generate the most attention. Supply chain monitoring, trade finance, digital assets, and identity management are among the blockchain applications that have progressed beyond the prototype stage. Menon also sees a lot of interest in adopting blockchain platforms to construct key ERP features like vendor management & supply chain management (SCM).

Anticipated Game-Changing Blockchain Developments In 2022

Nowadays, many individuals may view the increased availability of numerous blockchain initiatives as a positive feature. In the upcoming years, the vast range of blockchain applications may perplex people. The blockchain projects list can assist you in overcoming all obstacles and making the best decision possible in terms of blockchain development. Many blockchain project concepts are steadily emerging as industry executives take the lead from the beginning. New blockchain-based ventures are springing up to remedy the flaws in the current system. So, without further commotion, here is a list of the most important blockchain projects for the year 2022. Also read the best supply chain crypto in our blogpost How Can Businesses Transform Supply Chain Using Blockchain?

1- TradeLens AP Moller-Maersk

The most definitive blockchain initiatives list will begin with TradeLens, AP Moller-corporate Maersk’s blockchain. The transport and logistics behemoth, located in Denmark, digitizes supply chain data with its TradeLens blockchain. TradeLens has distinguished itself as one of the top blockchain business ideas since its inception in August 2018. It successfully handles about half of all cargo ships around the globe. TradeLens processed over 1 billion shipments, 12 million papers, and 30 million containers in 2020 alone. In 2020, TradeLens outperformed the previous year by more than twice. Furthermore, Maersk has teamed with Microsoft in maritime insurance processing, which employs blockchain technology. These also belong to the list of the most active blockchain projects.

2- BOEING’ s Go Direct BLOCKCHAIN

Boeing’s SkyGrid is another large business blockchain that will be one of the most exemplary blockchain new projects. HorizonX, Boeing’s venture capital arm, has put a lot of money into Skygrid’s development. It functions as a blockchain-based air traffic control system that allows drones to be tracked and communicated. SkyGrid obtained FAA clearance to provide drone pilots with low-altitude work licenses. SkyGrid is now available as a free iPad application. To assist with parcel delivery and manufacturing inspections, SkyGrid keeps a permanent data record. SkyGrid has the potential to develop automated flying taxis in the future by leveraging blockchain technologies such as Hyperledger and Go Direct.

3- Du Xiaoman Financial And BAIDU

China is one of the world’s top areas of innovation and blockchain development. A Chinese search engine, Baidu has merged more than 20 blockchain technologies with its related fintech startup, Du Xiaoman Financial. Libra Chain is the most well-known blockchain project proposal proposed by Baidu and Du Xiaoman Financial. Libra Chain now serves as the backbone for three Chinese Internet courts. Courts deal with copyright and e-commerce conflicts primarily through virtual litigation. Libra Chain, led by Wei Xiao, was instrumental in submitting more than 35 million pieces of electronic evidence to the Beijing Internet Court.

4- GoDirect Trade Platform By HONEYWELL

Along with other top brands in the technological world, Honeywell has become one of the innovators of corporate blockchain technology. This is a very industrial company that has successfully migrated over 2 million aviation quality papers to the blockchain registration platform. Honeywell successfully migrated aviation quality documentation using Hyperledger Fabric’s capabilities. Consequently, it can assure that its client base has access to aviation-quality papers. Honeywell also runs the GoDirect Trade platform, built on the blockchain, and GoDirect Trade has gathered over 10,000 members and advertises over $ 4 billion worth of old aviation components.

5- Paxos Settlements Service

Credit Suisse’s adoption of the Paxos Settlements Service is another intriguing addition to the growing blockchain new projects. A significant financial player in Switzerland uses Ethereum’s enterprise features and the Paxos settlement service. Credit Suisse utilizes the Paxos Resolution Service to settle operations in U.S.-listed equities through Nomura’s Instinet broker-dealer. The Swiss banking giant’s blockchain technology can aid players in direct settlements on operations with one another. Consequently, stable intermediates can be reduced, allowing the computation to be completed faster.

6- The ING GROUP

The ING Group is widely regarded among the first banks to use blockchain technology. It is now leading a collection of financial firms using blockchain systems such as Corda, Hyperledger Fabric, Hyperledger Indy, Quorum & Ethereum. ING Group leads the verification of digital assets, working with other financial institutions to ensure compliance with international generally pro laundering standards. The Robust project, which includes a high iteration of zero-knowledge proofs, was just announced. It’s an add-on for any distributed registry system that improves data security and privacy.

7- Automated Royalties By MICROSOFT

Microsoft, the world’s largest technology company, isn’t far behind when it comes to blockchain project ideas. Microsoft has teamed up with EY to create one of its most well-known blockchain apps, built on the Ethereum & Quorum blockchains. Content rights & royalties management are included in the blockchain app. Game companies like Ubisoft and Xbox primarily used Microsoft’s new blockchain system. The new blockchain technology is aimed to facilitate automated royalty payments, as opposed to traditional procedures.

8- Ehealth Pass app By IBM CORPORATION

IBM was one of the first big corporations to devote significant resources to massive blockchain project concepts. IBM has released a new Ehealth Pass app based on IBM Blockchain, which is already widely used in many circles. Governments might utilize the Digital Health Pass app to authenticate an individual’s COVID-19 test outcomes and temperature magnitude statistics. Rendering to their criteria, customers, such as stadium operators, can use the Ehealth Pass app. Stadium operators, for example, can determine the criterion for vaccination of a person. Hyperledger Fabric & IBM Blockchain are used in the Digital Health Pass project.

9- PharmaLedger By NOVARTIS

Novartis has established itself as a leader in advancing blockchain-based pharmaceutical ventures. As one of the world’s top pharmaceutical firms, Novartis is a vital participant of the EU bitcoin consortium tasked with locating obsolete or erroneous prescription-related data. Novartis has partnered with Merck and the Technical University of Madrid to create PharmaLedger, one of the pharmaceutical companies’ most innovative blockchain solutions. The Novartis smart contracts app allows you to scan medicine containers and get real-time updates from manufacturers. Patients can also use scan codes to get information. The PharmaLedger partnership is also exploring new methods to use blockchain to tackle counterfeit and black-market pharmaceuticals.

10- Hype Of SWISSCOM

Swisscom, the world’s largest telecommunications company, is also one of the most notable participants experimenting with new blockchain initiatives. Swisscom is working on roughly 11 blockchain applications now, all of which are in varying phases of development. Swisscom employs Hyperledger Fabric, Hyperledger Ares, Hyperledger Indy, and Corda, all well-known business blockchain technologies. The Swisscom Blockchain platform is one of their most crucial blockchain initiatives. Electronic printing, nodes as a service, & Swiss Trust Chain are among the goods this initiative offers. These solutions aim to provide the most important blockchain foundation for application development to Swiss businesses and the public sector.

11- SAMSUNG’s BLOCKCHAIN ECOSYSTEM

Samsung SDS, the company’s IT division, has developed several blockchain projects for local hospitals, municipalities, and airports. Samsung may use Nexledger’s blockchain technology to establish itself as a player in the blockchain ecosystem. An essential aspect of Samsung’s many blockchain efforts is a complete medical claims processing solution. Patients can make claims in the hospital’s emergency department, by cell phone, or at a kiosk using this service. Stay tuned to read our next post on new crypto projects 2022.

12- WeBank By TENCENT

Tencent, a Chinese company, is also a major player in developing new blockchain technologies. The blockchain that Tencent has established is its most significant advantage as a creator of innovative ideas for the project. Tencent’s blockchain enables the Shenzhen tax office to issue around 10 million invoices. Tencent has also launched WeBank, a blockchain platform called FISCO BCOS (Be Credible, Open, and Source) that offers a different blockchain platform. More than 100 Chinese enterprises comprise the Financial Blockchain Consortium Shenzhen Consortium (FISCO). FISCO BCOS is used by over 2000 businesses, which is an intriguing characteristic of the Tencent blockchain project. It also features WeIdentity, which has aided in clearing over 17 million border crossings.

13- Vitana By METLIFE

The amazing Vitana is one of several blockchain project concepts that MetLife is working on. The MetLife LumenLab research lab in Singapore has published a document on the Vitana project. This is a parametric insurance-focused initiative. As a result, MetLife has hired Vitana to give insurance specifically for pregnant women to help them deal with any complications that may arise. It is one of the most discussed top blockchain business ideas.

14- Health Tracking Initiative Of WALMART

Walmart’s food monitoring effort should never have been overlooked in the debate on blockchain project possibilities. The retail behemoth employs a blockchain-based Health Tracking Initiative to identify contamination and other food safety risks. It can keep track of about 500 products, including meat, fresh leafy green vegetables, fish, and coffee. Surprisingly, within one hour, the Walmart blockchain initiative’s food tracking app provided extensive information regarding the initial source of infection. Walmart also intends to run a pilot project with US Customs and Immigration to track imported items.

15- Blockchain-based Patent Apps By VISA

Currently, the term Visa is used to describe various blockchain project concepts. Visa’s key strength is its vast network of network nodes, comprising around 70 million retail locations. Central banks are progressively shifting their focus to digital currency issuance. As a result, Visa attempts to use substantial research and development to secure the safe movement of digital money outside its borders. Visa has already filed 159 blockchain-based patent applications for a variety of uses. And the use of biometrics to authenticate a person’s identification and increase transaction security is one of Visa’s most prominent blockchain initiatives. Visa announced that it is now linked to USDC, a secure coin designed to speed up corporate payments.

16- MineHub By BHP

A significant participant in the mining business in Australia is also a critical factor in developing new blockchain project concepts. BHP uses the blockchain to digitize a variety of businesses. Verifying vendor identification and tracking ESG (environmental, social, and corporate governance) qualities are two special operations. MineHub is one of BHP’s most crucial blockchain initiatives. In 2020, the firm used the platform to complete the first blockchain-based iron ore exchange with China Baowu Steel.

17- Mobility Blockchain Platform By DAIMLER

Mercedes-Benz is produced by Daimler, one of the world’s major automotive multinational firms. They are now collaborating with Circular on a blockchain initiative to measure Emissions of co2 in the cobalt supply chain. The primary purpose is to concentrate on transparency and potential CO2 emission reduction strategies. Furthermore, they want to keep track of any secondary raw material that may be produced due to their cobalt mining. Do you know the NFT alternatives to ethereum? If not – do read our latest posts.

18- Decentralized System By SHELL

Shell is building a decentralized system of virtual passports as part of a blockchain initiative. These are very few blockchain project concepts they have in mind. The firm will validate the validity of all parts, technology, and goods in this project and create a data flow system that correctly processes and stores all data. Don’t miss reading smart contract platforms comparison in our blogpost focused on Smart Contracts – Practices, Advantages & Limitations Overview.

19- Digital Vault By HSBC

HSBC is, without a doubt, one of the most well-known banking institutions with a vision for future blockchain project ideas. The London-based company is implementing blockchain to increase the efficiency of its worldwide currency transactions. According to the latest figures, HSBC’s blockchain registry has assisted in completing about 1.9 million transactions worth around $ 1.7 trillion. The Digital Vault, on the other hand, is one of HSBC’s most promising initiatives. It’s a blockchain-based framework that focuses on digitizing all private placement transactional records. This platform is the brainchild of HSBC’s securities division (HSS), which wants its investors to have access to data while the market is rising. Customers will now have access to personal assets and data through Digital Vault.

20- Aura By LVMH

LVMH is a luxury goods corporation based in Paris, and it tracks items using the blockchain’s capabilities. The LVMH blockchain initiative, most crucially, employs the AURA blockchain technology to combat the counterfeiting of brands like Bulgari & Louis Vuitton. Surprisingly, the AURA blockchain network has recorded around 10 million expensive products. The LVMH blockchain platform follows top blockchain protocols. And is created in conjunction with Microsoft & ConsenSys, introduces a novel way to combat counterfeit goods and ensure brand integrity.

Have Blockchain Project Ideas? Talk To Us!

It is self-evident that the blockchain project ideas for 2022 contain many potential concepts. Many tools, however, aren’t included in the list, while others are currently in development. One of the reasons why such initiatives are presently receiving particular attention is the progressively expanding interest in blockchain. Furthermore, numerous blockchain applications are challenging established notions of the blockchain, and need us to figure out how much does blockchain technology cost. Blockchain initiatives, for example, pay attention to predictions and information rather than merely offering platforms for dealing with or mining cryptocurrencies. The future of blockchain appears to be quite promising because of the most promising crypto projects.

 

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