TL;DR
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The most exciting blockchain projects right now are the ones which 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 are able to reliably track items as they move from place to place within the supply chain.
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The cool thing is, the companies out there doing this have already been adopted by some huge companies. VeChain has partnered with Louis Vuitton, BMW and others; while Morpheus Network has partnered with Coca Cola…
Full Story
You know what the most exciting blockchain projects are right now?
The boring ones.
Confused? Lettuce explain…
We’ve seen way too many projects which are ‘solutions looking for a problem.’
That’s a huge issue for Web3, and it gives ammo to the non-believers (who love 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, it may sound kinda boring at first, but solving problems with blockchain technology is exactly why companies like VeChain and Morpheus.Network are so exciting.)
Here’s what we mean (using a real life example):
Say you work for a luxury handbag company and want to track where each bag is on the production line.
Traditionally, companies have used some sort of unique identifier like an RFID tag, or a QR code to track where its products are at.
And the funny thing is, with these blockchain companies, they still use those tools.
The difference is, the data from the RFID tags (for example) 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, to the warehouse, all the way to the consumer.
By storing the data on the blockchain, companies are able to reliably track items as they move from place to place within the supply chain.
This is a huge deal!
It helps pinpoint issues in supply chain timing and product quality that could hurt production rates (and therefore, profitability).
And for a luxury bag company, the production side of their business is massively important.
The cool thing is, the companies out there doing this have already been adopted by some huge companies. VeChain has partnered with Louis Vuitton, BMW and others; while Morpheus Network has partnered with Coca Cola…
With more and more companies adopting blockchain technology to help improve their supply chains, we now clearly have a solution for a massive problem.
To say we’re bullish on blockchain projects that solve real problems is an understatement!
