Technology has revolutionalised how people transact with other people. From providing credit card information to auto transactions per due date, people have always come up with ways on how to provide convenience in shopping and paying—highlighting cryptocurrency and blockchain. For starters, cryptocurrency, also known as “digital money”, is a virtual currency that uses a security code, cryptography, making it hard to counterfeit. Meanwhile, blockchain a digital distributed ledger wherein cryptocurrency transactions are tracked and recorded, securing the transaction and giving confidence to both parties involved in the transaction.
“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” – Don & Alex Tapscott, authors Blockchain Revolution (2016) via Blockgeeks.
And as for Melbourne, blockchain startups are starting to swim towards the Land Down Under, making their marks in the real estate industry, as reported by Business Insider Australia.
- AEM (Association of Equipment Manufacturers) — an “advancing equipment manufacturers in the global marketplace” that applies blockchain technology to the accounting industry
- BetterMe — a platform that uses blockchain to connect different parties in the healthcare industry, which are healthcare funders, service providers and patients
- Building Approvals — a platform that makes planning and building approvals faster, safer and promotes better cash flow with lower risks through blockchain technology
- Charlie — a platform powered by blockchain, which is a customer-centric and technology-driven retail bank
- Efectivo — known to be the world’s first global and decentralised influencer marketing platform built on blockchain technology
- Fair and Square — a platform that helps contractors pay their hired construction team on time and all the time, lessening delays and risks
- Project Glass — created to lessen bank transaction costs for small and medium enterprises and consumers as well, while allowing the participation of the unbanked in microfinance
- Reputationaire — a platform powered by blockchain technology to be able to send and receive verified reputation data
- Supp — allows workers to work flexible shifts in their local area through an app-based platform
- Unicorn — an ecosystem-based game that can be used on different platforms
As blockchain startups now coming ashore to the Land Down Under, more and more can have access to paying their dues using cryptocurrency, lessening their worry since this currency is encrypted with a special code and transactions are being recorded through blockchain. With this, homebuyers can make their home shopping easier and convenient for payment can be done through their fingertips. As for business brokers victoria, it is time to step up the game and slow immerse into the world of cryptocurrency and blockchain and how this can affect day-to-day business.
