As we progress towards the end of this very eventful year of 2020, we can see that the blockchain industry is still growing.
There is an even greater push now to build up the systems and infrastructure of the decentralized economy more than ever.
The current crisis is becoming an economic storm that is threatening the future of the globe.
The blockchain industry is there to help by providing massive access to financial resources to millions of people looking to move from the outdated legacy systems into a new transparent economy.
The projects briefly reviewed here are but a small sample of the innovation happening out there and what is to come.
This is especially true in developing nations such as Nigeria. Here blockchain has the capacity to leapfrog the country’s economy.
This means that the adoption of the technology would rapidly move forward the economy to a degree far more advanced than using legacy systems and old technologies.
The Blockchain Nigeria Group recognizes this opportunity. This is why this group is pushing blockchain adoption in the country, making it one of the most important opportunities in the country at this moment.
Below, I listed the top blockchain projects to look out for in Nigeria.
Top 8 Blockchain Projects to Look Out for in Nigeria
The list includes:
Healthcare costs are running high across the world. This is because:
- the technology for treatment is becoming more expensive
- insurance networks are complicated to manage
- patient’s records are difficult to share, and
- many things are not going right.
Solve.care is a project which aims to improve the administrative side of healthcare with the use of blockchain by improving coordination and streamlining payments processing.
It allows different healthcare companies to launch a private “Care Administration Network” and manage access to its partners.
HMS Technologies, one of the biggest companies in the sector and a direct provider for the US government, has partnered with Solve.care to implement blockchain in its Federal Health Information Technology initiative.
The aim of this initiative is to reduce administration costs across the entire system and improve data sharing in a secure way.
Solve.care is also in talks with Lyft in an initiative to improve health care and emergency transportation.
This is a new venture by the second-largest ride-sharing company and a major income stream for Solve.care as it becomes a large player in the industry.
Identity management is one of the main hurdles in the healthcare industry. Check out this article on how blockchain applications would improve Identity management.
SureRemit is a cash-free remittance service based in Nigeria.
They picked up a lot of attention back in 2018 when they raised 18 million dollars using an ICO.
By holding the Remit token, Nigerians would receive vouchers accepted by local businesses that allow them to buy groceries and other products.
The sender is able to monitor the payments and the items bought using the vouchers.
This is ideal for students so parents and guardians can monitor spending by those in their charge.
The full platform is expected to launch this year.
Uhive is an implementation of social networking on the blockchain.
Its main feature is that the page of space each user creates in the network is treated as personal property.
This means that as traffic increases to one’s page, its value for advertisers rises, and compensation for the person goes up as well.
This gives the individual direct control of how a post or content can be monetized and by whom.
The site also has privacy features and a modern interface.
Time spent on the network is also rewarded with Uhive’s token that can be used on the platform or traded. This means everyone shares in the value of the site.
The payments are expected to be more than those paid by YouTube or other similar platforms.
This is a great opportunity for Nigerian content creators looking to expand their reach and enter a less saturated market.
This is a distributed ledger project that uses a different type of data structure to achieve the decentralization of Directed Acyclic Graphs (DAG).
It is a type of map that can process transactions at a faster rate than a blockchain.
The project is looking to improve the security and interoperability of big data.
Their unique ‘Spore Platform’ hosts the big data of various companies and institutions.
Then this protocol is used to validate, audit, and analyze the stored data. Their hope is that this will reduce the costs of working with big data.
A major partner for Constellation is the US Airforce. They plan on using the platform to store, validate, and audit the data collected by their fleet of satellites, drones, planes, and sensors deployed across the planet.
Their main goal is to increase the usage of their accumulated big data and decrease costs.
Ellcrys is a Lagos-based blockchain company that aims to decentralize GIT hosting.
The goal is to improve collaboration among software developers when creating software.
They have a native token on their platform and have an architecture that aims to spread mining among a large pool of node operators.
Cinemadrom is a blockchain project looking to become the default distribution and funding platform for independent films.
They want to work with independent film creators outside the film studio space.
Moviecash, Lutoken, and Lumiere are the tokens used by Cinemadrom.
These coins work to finance films that are hosted on the platform and can then be viewed by people using a different token.
This blockchain protocol is a space where the director, writers, producers, sound experts, etc. can meet and collaborate on projects.
They have seen costs to produce films cut across countries and have produced previous movies watchable on the Cinemadrom services.
Most of the revenue of the project actually comes in the form of advertisements placed on their proprietary platforms.
This means there are no fees or charged costs taken from the creators of the films, but instead they are able to keep their earnings.
This blockchain project aims to decentralize the real estate market in Africa.
They provide land management and issue proof of ownership for building as well as empty plots for development.
They aim to make the property market transparent by approving fast and secure certificates and permits.
This, the company hopes, will make for a better property market and reduce fraud in the system.
This blockchain-based Internet browser is one of the greatest success stories in the DLT world.
The browser has already seen 20 million downloads to become one of the most used internet gateways. It was also the browser with the biggest growth in 2019.
The main feature of the browser – its rewards system is already in implementation and the Brave Token(BAT) has seen major adoption in multiple exchanges.
Brave browser has an inbuilt ad block that automatically prevents intruding software from accessing the computer.
This means that the user’s data is protected from the beginning thus allowing it to be sold to those willing to pay the fair price.
An improvement for the user is in the increased security and the freedom to choose what has access to their data.
The browser is perhaps the best optimized in the market and offers great speed when surfing the internet.
Additionally, those willing to have ads pop up can customize the frequency with which these appear per hour. This means that even when watching ads there is no chance of getting overwhelmed by them.
This has been to date one of the most impressive and revolutionary implementations of blockchain technology.
The reward system, the in-built ad blocker, the crypto wallet, and other protections have made the browser one of the best technologies to come up in recent times.
As we can see the future of the industry is bright.
The sectors of the market being transformed by blockchain technology just keep increasing with time.
This amazing innovation has come to the doors of the Nigerian economy.
Many of the most exciting and revolutionary of the projects in Africa are located in the country.
This means that Nigeria will become a hub for blockchain adoption in the continent and the world.
As we progress, the technology will become an integral part of our lives and will improve access to financial services, privacy, and transparency for the entire society.
Check out this article on how the blockchain technology can be applied to financial services.