In today’s era, cryptocurrencies remain predominantly attractive for their speculative allure, as investors and traders seek transformative opportunities. However, the genuine value of blockchain technology lies in its potential to address tangible issues and foster innovation in a decentralized manner.
Within this realm, Finbold has highlighted three startups harnessing this technology to create practical solutions for real-world challenges. These companies have recently introduced, announced, or piloted their innovations on a large scale, signaling a growing trend towards utility-focused initiatives.
Grounded on the MultiversX (EGLD) blockchain infrastructure, these startups operate their services and systems. Justin Bons, the founder of Europe’s oldest cryptocurrency fund and CIO of CyberCapital, hailed MultiversX as the “technological Holy Grail of crypto.”
Notably, the EGLD blockchain stands out for being the first to fully implement the three types of sharding, making it the most scalable blockchain while upholding decentralization and security. This feature solidifies MultiversX as a robust foundation for these startups to build upon, innovate, and cater to market demands effectively.
One such example is XOXNO Network, which is revolutionizing the ticketing industry by launching its initial ticketing Minimum Viable Product (MVP) for the fitness event Sense4Fit. The company reported positive feedback, with over 1,000 tickets scanned within the first few hours.
Concurrently, Forbes Romania reported on Build21, a real estate startup leveraging blockchain technology to develop 21 residential projects in Romania. The company aims to involve investors, experts, and future residents through blockchain, offering small investors direct access to project profits and voting rights via NFT purchases.
Additionally, Globees emerged as a potential competitor to Airbnb in the lodging sector. The company recently unveiled its initial rental listings, reflecting its commitment to eco-friendly and cost-effective lodging solutions.
These startups and their innovative approaches showcase the growing influence of blockchain technology and cryptocurrency in addressing real-world challenges. As technology progresses, solutions like those exemplified by these startups are poised to become more prevalent, highlighting the transformative potential of blockchain technology when scaled securely and decentralized.