TL; DR
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The most exciting blockchain projects right now are the ones that have real utility and solve real problems. For example, VeChain and Morpheus Network store supply chain data on the blockchain.
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By storing the data on the blockchain, companies can reliably track items as they move from one place to another within the supply chain.
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The nice thing is that the companies that do this have already been adopted by some enormous businesses. VeChain works with Louis Vuitton, BMW and others; while Morpheus Network partners with Coca Cola…
Full story
Do you know what the most exciting blockchain projects are right now?
The boring one.
Confused? Save explanation…
We’ve seen far too many projects that are “solutions in search of a problem.”
That’s a big deal for Web3, and it gives ammunition to the non-believers (who are happy to tell you all about why blockchain technology isn’t the future).
But there are some projects that leverage blockchain technology beautifully. For them it’s all about utility over hype.
(As we said: that’s possible sound quite boring at first, but solving problems with blockchain technology is exactly what companies love VeChain And Morpheus.Network are so exciting.)
This is what we mean (using a real-life example):
Let’s say you work for a luxury handbag company and want to keep track of where each bag is on the production line.
Traditionally, companies use some type of unique identifier, such as an RFID tag or a QR code, to track where their products are located.
And the funny thing is that these blockchain companies do still use those tools.
The difference is that the data from, for example, the RFID tags is stored on the blockchain, allowing authorized users to access that data in real time; and confirming the authenticity of each item, from the supplier through the warehouse to the consumer.
By storing the data on the blockchain, companies can reliably track items as they move from one place to another within the supply chain.
This is a huge deal!
It helps identify issues in supply chain timing and product quality that could hurt production speed (and therefore profitability).
And for a luxury bag company, the production side of their business is extremely important.
The nice thing is that the companies that do this have already been adopted by some enormous businesses. VeChain works with Louis Vuitton, BMW and others; while Morpheus Network partners with Coca Cola…
With more and more companies adopting blockchain technology to help improve their supply chains, we now clearly have a solution to a huge problem.
To say that we are optimistic about blockchain projects delivering solutions Real problems is an understatement!