5 Blockchain Startup Disruptors You Should Know

Blockchain affects more than just the big financial players, of course. Anyone who wants to compete in the modern financial world needs to know how to use the technology to their advantage.

This, of course, can actually be a huge positive for startups. Blockchain has so much untapped potential and harnessing that potential can help you create a successful modern product or service.

It shouldn’t be surprising to find out that entrepreneurs know this and groundbreaking innovative startups are stepping forward to show what blockchain disruption will do. This week I’ll show you the startups to watch as blockchain continues to rise in prominence and importance.

As millennials and generation Y grow in power, certain dynamics are starting to shift. One example of this can be seen in the sharing economy, which is now directly challenging many of the old ways of business (hotels, cabs, etc.).

The creators of La’Zooz saw the potential in both this market and blockchain and created a way to combine them in order to better use their potential. By offering Zooz tokens as a reward for sending in movement data, the company will be able to reward its early followers and collect the data it needs to set up and grow the La’Zooz network.

Once the network is fully operational La’Zooz will be set to lead the ridesharing industry, clearly showing the impact blockchain is making in every area across the board.

One of the major issues the younger generations are having with current structures is the uneven, unequal distribution of power. More and more people are losing trust in the establishment and want a better way. This is why FinTech is gaining such traction.

Of course there are elements of FinTech that are still tied to the old way and therefore need to prepare for undergoing major upheavals.

Enter the decentralization of the internet. In this revolution, the power of the internet̶  — which is currently being controlled by large companies that hold the servers — is reformed to better serve the needs of the modern technology user. Startups know the potential in this upheaval and are lining up for battle.

Polkadot is one of the networks aiming to lead the revolution. Its purpose: to create Web3, a fully decentralized web that will help bring forth a more equal distribution of power.

DeNet is another power player aiming to change the internet. Its quest: True decentralization and improved data storage. By freeing people from the storage limits set by old-school servers we have the chance to see creativity and innovation soar.

Then there is Blockstack. This company’s aim is to create what it calls a parallel to the internet, giving users more control over their data and identity and using a cloud system to hold copies.

Startups like these are set to overturn the status quo and bring in the next generation of internet and blockchain is the key to their success. Thanks to them, FinTech will be able to continue to grow and thrive.

Finally we have the decentralized marketplace. This is the new era of shopping, where people across the globe can freely buy, sell and trade products with each other.

OpenBazaar, the first global decentralized market, is exactly what it sounds like: a bazaar open to the world. The platform allows users to interact with fellow consumers across the globe, accessing small businesses in over 30 countries and paying with cryptocurrency.

Decentralized markets like this are what will truly open the world, giving people the chance to explore new areas and interests without having to work through a middleman.

You can see how far-stretching blockchain’s impact is and the true positive disruption it is going to have on our financial market. The technology is opening up the world, bringing in new and better possibilities across the board. From the power players to the smallest startups, understanding and believing in the power of blockchain is the best thing you can do to prepare for tomorrow’s marketplace.