FinTech blockchain startups
All of us earn for living. That is why we should be financially literate. FinTech startups will assist us in it.
Provenance
Area: trading sector
A real-time platform that helps companies and provides them with operations transparency with the help of history of goods and provenance monitoring. Using this technology, you can easily collect and verify data, match it to physical objects and integrate into various online services.
So this startup offers tools to auditors and other merchant specialists to collect information about the history of their goods. Collected data can be shown to potential customers then, they can see where these goods came from and how they travel from one place to another. This startup is included in the list of top FinTech startups in the blockchain.
It doesn't matter what goods we are talking about - it can be sneakers, clothes, and even food. The transparency of the physical object's travel should increase the responsibility of society for social problems related to labor and attract attention to brand authentication problems and material provenance. The final goal of the startup is to create trust between customers and buyers.
BitGive Foundation
Area: fighting fraud in charity sector
The noncommercial California-based BitGive Foundation startup released GiveTrack blockchain platform that monitors donations to charity.This platform uses blockchain technology that makes it possible for donators and other people to monitor charitable donations, and see what they were spent on and whether they reached the right recipient or not.
BitGive can have a really positive influence on a bribable charity sector that unfortunately still exists. So it offers a required transparency of charity donations operations. Also, it can also give you a reply to your answer what are FinTech startups.
Loyyal
Area: retail trade
One more FinTech platform that is developed on a blockchain basis and it provides users with cross-platform interoperable transactions. The retail loyalty card industry can be united in one system and thus loyalty programs can be monitored efficiently.
Today this platform is successfully applied in Dubai's government. It helps organize right loyalty programs and manage multi-branded coalitions with smart contracts technology and blockchain FinTech basis.
Elliptic
Area: financial organizations, law enforcement agencies
It provides analytical services for financial institutions and law enforcement agencies. This startup helps law enforcement agents track criminals that use Bitcoin.It aids financial investigations with the help of distributed registry technology. So, Elliptic plans to make the cryptocurrency ecosystem more transparent for financial institutions.Today, it is rather difficult for law-abiding Bitcoin companies to get financial services from traditional financial institutions that have strict regulations and they don't want to have any bargains with cryptocurrency organizations in connection with a banking policy of risk avoidance. They are distrustful to Bitcoin owners.
That is why Elliptic was created. It verifies the participation of customers in money laundering, financing terrorism, dealing drugs or other illegal activities by monitoring Bitcoin transactions.
Blockchain FinTech companies should get benefit from this startup.
Ethereum
Area: financial technology, payment gateways
And finally, the largest blockchain platform for the development of decentralized apps on the blockchain basis that uses smart contracts technology as well. It has its own cryptocurrency named ETH. What's more, Ethereum is a programming language as well that makes it possible to create apps and next generation online services.
The contract is considered to be implemented when it gets notification from other users or other smart contracts. Computer software sends money automatically upon the fulfillment of the conditions. After the transaction, the completion result is recorded in the blockchain. The sender can see it if he or she will monitor the smart contract.
Ethereum project gave rise to a few startups that we will discuss below. This large platform makes it possible to create your own project in various fields.Thus, you can see that FinTech and blockchain may co-exist in harmony. And it means area of fintech blockchain startups development is really unlimited. Find the optimal one for you to occupy your niche in this field.
