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Take A Look: Companies Using Blockchain Technology For Non-Financial Purposes

Blockchain technology and its potential to disrupt financial sector has been making headlines for quite some time. However, the technology has applications that go much beyond the financial sector.

BraveNewCoin provides a list of companies that use the blockchain technology for non-financial purposes:

Ascribe

Ascribe allows artists/creators to own, securely share and track the history of a digital work. When a creator registers a work on ascribe, a unique, cryptographic ID is generated and then stored on the blockchain. The cryptographic ID is a composite of the digital artwork and the artist’s identity, creating a permanent and unbreakable link between the artist and their work.

Bitproof

It is perhaps one of the most advanced document timestamping apps that have surfaced in recent years, making notaries obsolete, BraveNewCoin reported. it created SealX – a tool that helps in creating “frosted” contracts that are sealed forever and valid worldwide. Bitproof also created GeniusX that helps in protecting Intellectual Property.

Colu

Colu envisions a world where value is transferred instantly and access to information is free. It aims to achieve this by using the blockchain technology. Colu allows other businesses to issue digital assets, and the variety of these assets they can 'tokenize'. In August, it officially launched its open beta platform where developers can issue and manage digital assets for various uses, from financial industry (shares, bonds, stocks), records (certificates, copyrights, documentation) to ownership (event tickets, vouchers, gift cards).

Everledger

Everledger is a permanent ledger for diamond certification and related transaction history. It uses the blockchain to track individual diamonds, from the mine to the consumer and beyond. Everledger says that its technology can be extended to track any asset that carries a Unique Identifier which is difficult to destroy or replicate. Everledger helps to overcome deep rooted problems in the insurance sector and would save insurers over 300 Million pounds every year.

Filament

Filament uses small, advanced hardware devices to put all kinds of electronics, especially appliances, on the blockchain, creating an Internet of Things for your local area, as reported by BraveNewCoin. By enabling operations on the Blockchain, it enables generating new, recurring sources of revenue by selling access to devices or data.

Warranteer

Warranteer enables users to activate, organize and manage all of their products’ warranties digitally. It uses Colu to move product warranties from paper onto the blockchain, keeping them up-to-date and easily transferable. Its customers already include LG and GoPro.

Wave

Wave aims to transform the global supply chain and provide a solution to the redundant paper documentation (Bills of Lading) with the blockchain. It connects all members of a supply chain to the decentralized blockchain, thereby enabling a direct exchange of documents between them. WAVE's application manages ownership of documents on the blockchain eliminating disputes, forgeries, and unnecessary risks.

By Shampa Mani
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