Innovation on the Blockchain
Since Bitcoin’s bull run back in 2017, mainstream media help bring cryptocurrency to the forefront of emerging technology. Now whilst digital currency wasn’t anything groundbreaking,
Empire Hotels developed an innovative solution to the hotel industry problems of Security and Booking fees. Empire Hotels developed a hotel booking platform that increases security and reduces administration fees by processing payments through a decentralized blockchain system. Hotels can install the app and add their properties to the platform; which users can browse to find accommodation. All reservations are locked into the blockchain and prevent any tampering to bookings, giving a clear line of transparency between users and hotels. Users can also pay for their bookings in either fiat, which includes a small booking fee, or with the London-based company’s EmpireCash cryptocurrency, which charges no fee at all.
Verisart is a unique art application that uses blockchain technology to verify the authenticity of artworks. Verisart partnered with software developer ArtSystems to offer galleries blockchain-based certificates of authenticity that are embedded in their art inventory management systems. Furthermore, Verisart also created a system for the auction market called P8Pass, which stores detailed provenance information on artworks that runs on the Bitcoin blockchain, providing a secure record of artworks being traded.
Wenn Digital and Kodak developed a
The Co-operative Food Group in 2017 began an initiative to track the supply chain of certain of its produces following reports that several of its competitors had been misleading customers as to the source of the products. The co-operative wanted to ensure that the supply chain was verified and secure, so they turned to blockchain technology and began building the so called “alpha-stage blockchain platform.”
When establishing the project, they wanted to ensure it would work within the confines of existing processes and tracking/verification processes. Though the platform was designed to track fresh food, the system now includes other produce. The data is collected from farms and factories and creates a database that can be accessed by not only store workers and co-operative employees but by shoppers, giving complete transparency across the board.
Sources: guardian.co.uk, forbes.com, computerworlduk.com