You can read the part-1 here.
So much development has been happening in the crypto-technology lately. Below are some of the startups which I recommend to keep an eye on:
Waves Platform is one of the most funded projects of all time, it raised ~30,000 bitcoins during its ICO (Initial Coin Offering), which was equal to ~$16mil US dollars at the time (now ~$19mil). It’s founded by a Russian entrepreneur Sasha Ivanov, who has previously founded Coinomat and was also an NXT developer.
Waves promises to offer multiple services on its platform, one of the significant ones are being the following:
1) Token Issuance – any business or individual can create their own tokens on Waves Platform. And it can be traded against other tokens in the Waves DEx (Decentralized Exchange). This has a huge potential to digitize and make the traditional rewards points systems blockchain-enabled. Incent is the first startup in this area which will be using Waves Platform.
2) Decentralized Exchange (DEx) – Waves will also have DEx for users to trade crypto-currencies such as bitcoin, ethereum, and other major altcoins. The tokens that are issued on Waves Platform can also be bought and sold against any other cryptocurrencies on the DEx.
3) Decentralized Crowd-Funding – This is similar to Kickstarter platform, but it has one significant difference. Normally on Kickstarter, you will get a product for supporting the startup. Whereas on Waves Platform, when you support a Startup, you invest your money in a startup and in return you will get their tokens. These tokens will act as a company share and naturally based on the performance of the startup can increase or decrease in value. Number of tokens will depend on how much money you invest in a startup. After the crowdfunding is over, tokens can be acquired or sold on the DEx.
4) Payment Gateways – Payment Gateways are the bridge between internet and banks (eg; PayPal). Unlike other blockchain based platforms, Sasha promises Waves to be a real-world friendly platform for both businesses and individuals. Anyone with an internet browser and a bank account will be able to have access to a blockchain technology and start using it for the above mentioned purposes (eg; trading digital currencies and tokens, starting a crowdfunding..etc). Various Payment gateways are being promised to be integrated to Waves Platform.
MaidSafe has this grand idea of re-building the Internet from scratch i.e Internet 2.0. This new internet, in their vision is a Distributed one, which is immune to cyber attacks and censorship. Think of it as an internet that uses BitTorrent technology as its backbone, from storing files, to hosting websites, to user-authentication.. all built-in within the protocol.
Here is a good introductory video of MaidSafe:
One of the advantages of cryptocurrencies is the ability to make micro-payments finally a reality on the web. So far, micro-payments have been economically not feasible, it’s just too costly for PayPal or Credit Cards to do micro-payments. Lowest price is perhaps in iTunes, where you can purchase an app or a song for 0.99 cents, even that, if you purchase more than one app or song, Apple will put them in bulk and charge them to your card in bulk to reduce the transaction costs per app/song.
LBRY tries to address all those challenges around micro-payments with their platform, which will allow for content creators to publish their work (videos, ebooks) and get paid tiny amounts for each view or download. Users can also get paid for hosting those files on their local PCs since the platform is a distributed platform similar to the BitTorrent technology.
I’m not sure if they are addressing DRM (Digital Rights Management) in their product roadmap, but if they do, then DRM is one of the pain points when it comes to Studio contents (eg; Disney, Sony, 21st Century Fox etc). There is a whole industry around Studio contents when it comes to publishing those contents online in the avenues like VOD (Video On-Demand) stores (eg; Netflix). From Ingest Servers -> to Transcoding Solutions -> DRM Solutions -> Secure Video Player Plugins..
The whole chain is extremely costly and practically broken. It’s one area that is awaiting to be disrupted – and most probably it will be disrupted by a blockchain technology. And LBRY is in a good position to seize this opportunity.