The 2018 Tokensky Blockchain conference in Seoul was a huge success. It was held at the Grand Hilton Hotel Convention Center and brought together a large gathering of Blockchain/token companies. There were many that caught our eye. Below are some of the companies related to Blockchain technology and Tokens to watch out for in 2018.
The LHoFT Foundation
The company is based on of Luxembourg and specializes in financial technologies. They focus on public and private partnerships. They are supported by the Ministry of Finance also certain private partners like banks, investment funds, and technology partners. Together they work on three pillars. The first is facilitator and incubator. If you are a Fintech company outside of Europe and you want to join the European market for example, then you can knock on LHoFT’s door to learn more about how to incorporate into the European market. LHoFT will help you set up in Luxembourg first as well as help them meet the right people in Europe.
Those that are interested in entering the Luxembourg market, LHoFT helps you set up your company there. LHoFT also holds conferences every week related to all things Fintech from Blockchain to Cryptocurrencies. The second pillar is education. They are active in teaching people about regulation. The first pillar is research and projects. They do research on ICOs, cryptos, and financial services. Many of their partners come to LHoFT to talk about their issues and look for LHoFT to find the solution. Therefore LHoFT is looking for great FinTech companies that can bring the right solution.
Universal Labs
Universal Labs is all about creating awareness about Blockchain technology. They want to make Blockchain understandable even for your parents! Universal Labs is the creator of Ubbey Box. Ubbey Box is the first decentralized personal cloud. What is a personal cloud? Everyone uses Dropbox, but Dropbox is a public cloud. Everyone uses it and pays the Dropbox company. There are some problems with this service. The first is that you need to pay a monthly fee.
The second problem is that the government might monitor the content. However, the personal cloud is your cloud. You make a one-time payment and you can put all your pictures and digital assets onto this cloud and it is only controlled by yourself. Nowadays the Bitcoin blockchain the storage size is 100 gigabits. The general idea behind Ubbey Box is for people to compete for storage. If you have more storage the better chance you will have to win the YOU coin token. Therefore the money inside this ecosystem is storage. Therefore anyone can use it, you just plug the Ubbey Box in and it will mine for you! Also since it is on the blockchain you can keep your stored data forever.
Shine Chain
ShineChain is to change the business model of the global insurance industry through technological innovation, to create a global blockchain mutual assistance ecological model, and to enable more people to enjoy their rights to a safe and healthy life. ShineChain mutual assistance community built a set of databases using blockchain technology that can not be tampered or faked. Based on this technology, ShineChain is going to solve five pain points in the traditional insurance industry:
- Expensive: High sales cost and operational cost of centralized institutions
- Trust: Centralized operation mode has difficulty in developing a trust-based relationship between customers by current technology
- Privacy: The protection of client privacy for all centralized institutions is a lasting puzzling problem.
- Fraud: Insurance fraud is a common concern faced by the global insurance industry.
- Inflation: Due to inflation, delay of claims payment decreases the actual purchasing power of the claimant.
Their vision is for the 7.3 billion people worldwide to be insured through SHE, regardless of income disparity.
FinTech4Good
Fintech4Good is a global network. They identify the best blockchain and fintech innovation through their incubation, acceleration, and investment program. Then they bring them to the frontier market. Their focus is on 7 sectors.
Digital identity
Smart contracts
Digital currency
Payments
Tracing and Tracking Solutions
Cross-Cutting
Digital asset
Fintech4Good is a Global FinTech and Blockchain network, that works with start-ups, industrial leaders, NPOs, and investors to develop and implement solutions for a better world.
Well
Well is the Airbnb of healthcare. A global blockchain platform for high-quality healthcare. Much like Airbnb allows you to give your keys to your house to a stranger which requires a lot of trust. When you go to a doctor that is even more trust, you basically give them access to your soul, body, and life. The blockchain is perfect for scaling trust. There are a lot of great doctors out there but they are not good at marketing or business. They are focused more on healthcare. So by giving a blockchain platform solution, Well can solve those issues for them.
Another thing that Blockchain is perfect for removing the friction in cross-border payments. There are certain limits to how much money you can bring into a country as well as the conversion issues. The Blockchain makes this effortless and eliminates all those risks. Well is a utility token, people can participate in their crowd sale in a sense that they can buy tokens and use them on their system. If they don’t use them that is fine because they can sell them on the exchange later.
Skrumble
Skumble is a very consumer-oriented experience. Once you set it up on your smartphone or computer, you can add whatever wallet you want to it. You can then find your friends, initiate conversation, make phone calls, and even video chat. Whatever you want to do you would do it from the app just like how people use WeChat. What separates Skumble from WeChat is that it is secure, anonymous, and private. Nobody can listen to it because it is decentralized. It is peer-to-peer, it requires no middleman. It is very secure since no private key is ever the same. Furthermore, with Skumble you can have full motion video conversation with zero lag.
Skumble has been in this business for several years and is looking to create a truly community-owned project. They are putting the power of communication into the hands of the community. There is no phone company, you the user are the app. Utility tokens are used to unlock certain features like sending a larger file. There are also incentives to earn these tokens, for example, invite 20 friends and get some tokens, etc. They are going to integrate with many wallets that are out there.
IHT
i-house.com is a global real estate blockchain cloud platform. IHT (i-House Tokens) is the real-estate blockchain cloud platform. It is basically a blockchain version crowdfunding for property real estate. They use the term ATO (asset tokenized offering) which can be bought with U.S. dollars or digital currencies to fund early stage real estate development. They are looking to have real estate companies use their platform for fundraising.
The platform will be launching very soon. They have already talked to different property agents in Japan because in Japan they already legally accept bitcoin. Therefore Real estate property will be changed using digital currency. If a person would like to buy a Japanese property but is living in Hong Kong, they would contact IHT partner in Hong Kong and use IHT to buy the property. There would still need to be brokers but the trade can be done in ONE day! Buyers and sellers can be confirmed very quickly and the transaction can take place immediately. After Japan, they are looking to expand into the U.S. for stage two.
Toda Algorand
Toda Algorand looks to find the shortest path to prosperity across the globe. This isn’t about altruism, they have the most expensive solution money can buy, with the highest price comes to the highest ROI accordingly. Toda Algorand goes down to the bottom layer of the TCP/IP which is a suite of communication protocols used to interconnect network devices on the internet. Currently, every single Blockchain sits on top of TCP/IP. It is not designed to carry Blockchain. Therefore this is why Toda Algorand went down to that layer. They are looking to have the proof points of evolving TCP/IP at the network packet layer to act the same way as an IP which gives a unique number to your machine.
This can give you a lot of advantages if you are able to have security around it which can prove it has been moved from one person to the next. The more users you have the easier it is to scale since it uses distributed computing. The system runs on distributed computing. For each and every Blockchain that want to scale successfully, Toda Algorand wants to provide that to every one of them. It only takes 3% of the power of smartphones working together in distributed computing. Therefore, if you have 800 people you can do one transaction per second. If you are another Blockchain with 800,000 people you are able to get 1 thousand transactions per second. The more you scale the people the more processing power you get.
