In 2018, nobody questions the role of blockchain in the global economy. In the decade since its invention in 2008, blockchain and cryptocurrencies have grown so big that they have begun to affect the economy of entire countries.
Let’s look at the UK, the place that to a large extent determines the European financial balance. UK’s regulations on blockchain business and cryptocurrency operations are so flexible and favorable that many blockchain companies choose it to open their businesses in. Therefore, let’s see which companies call the shots in the UK blockchain market in 2018.
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The primary area of Coinsilium business is support and promotion of blockchain technology companies. They offer an accelerator platform for startup companies developing blockchain applications and invest into promising blockchain development companies.
The Coinsilium team is a group of blockchain enthusiasts who believe that this technology is causing a technological revolution similar to what the Internet did in its time. That is why they are so devoted to supporting companies that develop blockchain solutions.
Since its founding in 2014, Coinsilium has consulted and financed about two dozen companies operating in blockchain development. The company supports startups at the initial stages of their growth and helps them start independent operations.
Coinsilium not only invests in blockchain companies, but it also attracts other investors. For example, check the interview with Eddy Travia, Coinsilium CEO and co-founder, talking about how to choose blockchain startups to invest in.
BlockVerify has set quite an ambitious goal – verify the authenticity of all products through blockchain. The history of each product is to be stored in the blockchain and can be traced back to its origin. This way, counterfeit and stolen products can be identified easily.
BlockVerify was founded in 2014, and since that time has implemented blockchain-based verification for four product categories – pharmaceuticals, luxury items, diamonds, and electronics. The first product to which the company applied blockchain verification were pharmaceuticals. That was due to the fact that damages caused by counterfeit medicines are enormous and their effects are devastating.
In all their blockchain technology use cases, BlockVerify works with the product manufacturer to ensure the quality and authenticity of each item. They are planning to expand the range of products that can be verified with the ultimate goal of making all products traceable via blockchain.
According to the BlockVerify team, their mission is to “make the world more honest.”
SETL is a convenient blockchain platform for real-time financial settlements. What SETL offers to its customers is reliable identity verification, secure messaging and expedite transactions. SETL uses a distributed ledger platform to execute transactions providing top security.
Through SETL, funds are transferred directly from one party to the other, thus substantially reducing the time required to complete the payment. At the same time, the level of security and identity verification is the same as in conventional banks.
SETL was founded in 2015, however, within this relatively short time it has managed to accumulate quite an impressive client base and is now getting continuing media attention. In September 2017, the company announced the launch of IZNES, the all-European platform for keeping fund records. The platform will be based on blockchain technology and is designed to provide cost-effective, transparent and secure financial transactions through all Europe. It seems SETL has quite ambitious plans for 2018.
Cashaa is a very young company. It was founded only in 2016. However, within 2 years it has proved that the idea that brought it into being is worth attention. The company is focused on settling a problem that many people who transfer money encounter – the existing banking systems are slow and bureaucratic, while cryptocurrency has certain usability issues and unclear legal status.
Cashaa has created a blockchain finance app that allows all kinds of financial transactions in a secure and totally legal way. Their partner is Mastercard Service Provider, and together they have developed a blockchain-based wallet via which users can send any fiat currency to any card in any place in the world.
With Cashaa, money is transferred even faster than blockchain cryptocurrency, while the recipients get fiat money that they can immediately use. The company has managed to create a solution combining the advantages of both cryptocurrency and real money transactions.
BSave allows earning interest on Bitcoin. With BSave, users benefit not only from the cryptocurrency volatility but also from interest accrued on the Bitcoin in their savings accounts. There are all kinds of account options – long-term and short-term – so that anyone can choose the one that is the most convenient for them.
With BSave, cryptocurrencies will bring passive income with the possibility of withdrawal at any time. It is an excellent solution for those who feel out of their depths in matters of cryptocurrency trading but still to want to earn with it. Moreover, the interest is credited on a daily basis, so there is no need to wait until the end of the month.
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BSave is only three years old, being founded in 2015, but has already earned the trust of many Bitcoin holders.
Electron sets an example of applying the blockchain potential to a totally non-crypto sector. The company uses blockchain on the energy market helping to plan electricity supply in strict accordance with the demand, thus reducing costs and protecting the environment.
The company uses the decentralized blockchain structure to record meter readings and coordinate the distributed resources. Electron builds blockchain-based energy infrastructures with decentralized management and low maintenance costs.
In the three years after its founding in 2015, Electron has developed a robust decentralized blockchain app for the energy sector and is working on other projects of blockchain and Ethereum development.
Queueco is a cryptocurrency exchange platform that supports online trading with the help of AI-based algorithms. Artificial intelligence generates trading recommendations and decisions based on the analysis of the current trends, statistics, and forecasts. No manual intervention is required, thus transactions are much faster and more accurate.
AI-based cryptocurrency exchanges are a perfect solution for those who wish to trade but have insufficient knowledge or expertise to make right investment decisions. With artificial intelligence analyzing the cryptocurrency market, the recommendations will be the most optimal.
Queco was founded in 2014, and it seems that, with the AI technologies being a big boom, the company is going to get some attention in the nearest future.
The Billon Group has built a revolutionary payment system based on the distributed ledger, one of the attributes of the blockchain technology. The Billon solution is more convenient, efficient and secure than traditional banking. The reason is that with the usual way transactions are executed, a lot of time and effort is spent on the verification of both parties and, in some cases, a prepayment is required. At the same time, traditional financial institutions are forced to apply multiple security mechanisms to protect their customers’ funds.
In Billon, no additional security measures are required due to the inherent security mechanisms of the blockchain. As a result, transactions take much less time, while remaining as secure as expected.
Compared to other companies operating in the blockchain technology sector, Billon is a very mature organization. It was founded in 2008, and since that time grew to more than fifty people and developed a whole line of financial products.
Now, the company is planning to extend their innovative solution to the banking industry, thus fusing the traditional money handling with the advanced technology.
Elliptic watches over the security of blockchain operations. The company helps to investigate illegal Bitcoin transactions tracing them through all entities in the chain. Elliptic maintains a database of millions of Bitcoin addresses that allows detecting suspicious cryptocurrency activity.
The company was founded in 2013, and in five years have assisted many law enforcement agencies and financial institutions both in the UK and beyond in investigating unlawful Bitcoin transactions.
One of the lines of Elliptic research and development is a response to ransomware attacks. The team has created a software that can identify such attacks and trace the ransom received during them. The cryptocurrency is identified as obtained as the result of the attack and becomes extremely difficult to use.
With the increasing frequency and sophistication of hacker attacks, being able to withstand them and alleviate their consequences becomes one of the primary goals. That is why it is worth following the research made by companies similar to Elliptic to be sure that your assets can be protected.
Qadre chose the mission of helping businesses verify product identity and build trust. The company creates its own blockchain models and, through an API, assists businesses to implement custom solutions enabling encryption, controlling access and setting up security mechanisms.
The Qadre solutions can integrate into the existing systems or blockchain networks. As a result, businesses obtain a cost-effective, easily scalable system for checking and tracing a product origin and identifying counterfeit products. The key component is the blockchain implementation, as it stores an immutable and transparent product history.
The company is fairly young. It has been on the market only since 2014. However, it has already done a lot towards blockchain popularization and adoption by businesses and contributed to the prevention of counterfeit goods circulation. With Qadre solutions, identity management and authenticity verification become less costly and much faster, and more effective.
Nowadays, never a day goes by without news from the blockchain and cryptocurrency universe. Sometimes, it seems difficult to find your way in this ocean of cryptocurrency rates, Bitcoin ups and downs, Ethereum projects, and blockchain applications. Each month, dozens of new ICOs are announced, and you may find yourself at a loss to decide which startups can be trusted.
If you decide to collaborate with a blockchain company or invest into one, we recommend selecting a reputable business that has been on the market for some time and can show a number of successful projects in its portfolio.
The list of companies you have just read is our pick of the top UK-based businesses that useblockchain programming in their solutions. The products and services they deliver are capable of influencing the national or even global economy in the nearest future.