Asia’s Top 10 Blockchain Startups
It was reported in 2022 that Asia stood as one of the leading markets when it comes to the growth of cryptocurrency usage, blockchain development outsourcing, blockchain jobs, general openness, and innovation. The decentralized nature and versatility of the incorruptible digital ledger are increasingly attracting numerous governments and businesses in Asia.
The Asian environment, concerning the use of blockchain technology, is generally friendly to entrepreneurs and users. Even with the problem of China banning ICOs, the country still managed to produce about 70% of the cryptocurrency mining activity.
In Asia, different startups are increasingly coming up with new ways to utilize the use of blockchain technology with the help of a blockchain development company. Consequently, here is a list of the top 10 startups in Asia utilizing the use of the digital ledger in different innovative ways.
This platform, also benefited from blockchain development services, presents a social-ride sharing service that is the first in the world in terms of being copiously autonomous and decentralized. Drivers using the platform can purchase DACSEE tokens and also accept passenger fares in the form of conventional money or the same token. A DACSEE token is an Ethereum platform-based crypto coin.
From the collected fare on the platform, a good share of it goes back to the various stakeholders of the platform. These include government authorities, passengers, and drivers.
It is also important to note that the digital wallet of DACSEE charges about 1-2% in commission fees from the wallet of the driver. That is unlike its competitors who charge from 20-25% as commission fees. The commissions levied on the fares are redistributed to stakeholders based on different factors such as the number of taken rides, community ranking, etc.
This Asian startup is generally recognized as the first derivatives exchange that is broker less in the world. Through reliance on blockchain technology, the company has been able to eliminate the need for intermediaries while still offering an experience in decentralized trading. Users of the Level01 app and platform can exchange derivatives and options with commodities, cryptocurrencies, stocks and indices, forex,
The company achieves what it offers to its users by utilizing the use of DLT (Distributed Ledger Technology), made possible by a blockchain development company. DLT allows for automated and transparent settlement of trade on the blockchain. Fair value pricing is available to trading counterparties through the use of Artificial Intelligence analytics. The pricing is on the basis of both the retrospective and current market data, supplied by Thomson Reuters.
This crypto exchange platform is a product of Nikolay Udianskyi. This high-quality platform is available thanks to the experience, knowledge of the market, and vast expertise of its founder. This crypto exchange is one of the leading startups in the Asian cryptocurrency market, according to Blockchain Life 2019.
This blockchain platform has further plans to introduce novel functions that are further guaranteed to set it apart from its competitors. One of the plans is to add a P2P micro-financing lending service for enabling its users to lend and borrow money on the platform.
This fintech and blockchain startup is Singaporean based. The startup is dedicated to delivering fully-integrated solutions for micro-financing, payments, and remittance. Utilizing the use of blockchain technology, TEXCENT strives to provide solutions for digital financial services that are convenient and seamless, not only in Asia but also around the world. For now, though, the company is focusing on Thailand, Vietnam, and the Philippines, whose markets are predicted to grow exponentially within the next five years.
At present, this blockchain startup offers various products such as a hybrid wallet and an app, PAYCENT, and TEXCENT. TEXCENT is simply a solution for remittance with zero fees.
The sharing economy is a concept that has been with us for a very long time, and today it is manifested in various ways. For example, if you have unwanted possessions, it is possible to sell through different online marketplaces such as Amazon and eBay. Moreover, it is also possible for you to let out your house on Airbnb. We are also seeing Uber drivers ferrying people using their cars.
It was from this idea of sharing that Bluzelle was birthed. With this blockchain startup, users are paid for just sharing their extra computer space not being used or needed. Blockchain technology is relied on for fashioning a decentralized database for businesses to use for data storage, resembling a cloud service.
This Asian blockchain startup has a global team comprised of more than 100 people. This platform is engineered for digital asset trading and serves various major Asian markets by way of a European license. Whitebit holds about 95% of funds from its users in cold wallets. The exchange offers its users a user-friendly interface having real-time automation features, technical and charting analysis tools, and order books.
The platform has also released a program called S.M.A.R.T. Box. The program serves to allow users of the platform to budget and share funds based on different unique plans having varying interest rates and durations.
This blockchain startup proposes an entirely liberalized model as opposed to the regulated electricity markets in Asia. According to its founders, the lack of transparency associated with regulated electricity markets poses a clean energy barrier and puts the credit of consumers at risk.
Electrify has a web application in the form of Energy Marketplace, which serves the purpose of producing retail electricity contracts. The working of the Energy Marketplace is simple. A client registers with an Electrify account and provides consumption details. The client then selects an energy plan and pays a deposit for security after uploading the required documents. Clients are allowed to choose the best option when it comes to their energy needs.
This recently introduced cryptocurrency derives its name from one of the favorite and sweetest fruits in the world in the form of a banana. This utility token, bananacoin, is based on Ethereum. The token is pegged to the price of exporting 1kg of bananas. What this means is that each Bananacoin token price is protected by the cost of 1kg of bananas.
The goal of Bananacoin is to cultivate an organic and healthy bananas variety known as Lady Finger. Lady Finger, a popular banana variety in China with high demand, is to be farmed in a plantation in Laos that is environmentally friendly and then exported to China. You can too participate in this enterprise and see the result of using a dedicated blockchain development company .
Tripio also provides another innovative use of blockchain technology. Tripio is a travel booking marketplace built on blockchain for connecting global traveling customers to service providers.
The aim of the Asian blockchain startup is to use its platform for travel services in terms of restructuring the protocol for hotel booking using the blockchain technology. The hope is such an undertaking can solve problems of fake reviews, high commissions, and inaccurate updates in terms of room status.
The ongoing digital disruption has also affected the industry of logistics and supply chain. Yojee comes to the rescue by providing a way for logistics providers to work with ecommerce companies. This startup relies on blockchain technology and AI for helping logistics companies. That is in terms of picking up and delivery confirmation, driver rating, optimizing and tracking management, coordinating their fleets, etc. And so, Yojee has also benefited immensely from using blockchain development services
In conclusion, as you have seen, many Asian startups exist that are leveraging on the power of blockchain technology, and that number can only increase. There are many ways one can use blockchain technology, and you can always consult with a company offering blockchain development about the opportunities available. Before you decide to go for blockchain development outsourcing, ensure that only a company that can deliver is chosen. Moreover, apart from familiarizing yourself with the services offered by the company, also ensure that you see past and current projects. You should also consider if the company provides dedicated blockchain development, which is crucial if your project requires ongoing work by the blockchain developers.