Understand Blockchain Ecosystem with Real World Examples

Posted by sarahjenni on April 15th, 2019

Blockchain as technology is getting popular at a faster pace than any other comparative counterparts. People as well as businesses around the world are beginning to understand the value of blockchain technology as a potential solution to the world’s problems. There are even many organizations working on developing blockchain-based applications and ecosystems to solve these problems.

However, in order to be able to develop comprehensive blockchain solutions, it is crucial that we understand the working of the blockchain as an ecosystem. There are some good examples in different industries ranging from digital payments & wallets to identify systems to enterprise solution that make use of the blockchain technology.

Blockchain Use Cases

Transaction & Payment Solutions: Many startups including Abra (Digital wallet), Coinify (blockchain transactions), Ethereum (Smart contracts), BitPesa (Global payments), etc are working on blockchain-based solutions related to buying, selling and transacting in digital assets 

Exchanges & Trading: Some of the top platforms for these kinds of services are Augur (Prediction markets), Rare Bits (Marketplaces), ShapeShift (crypto exchange), Bitbond (P2P lending), etc.

Identity Security & Verification: Blockchain is a technology for secure and immutable transactions. Many decentralized apps are out there that use this feature to provide services like data storage, secure, identity verification and more. Top examples include ShoCard (Digital identity) and SafeChain (security).

Other than these use cases, there are many enterprise blockchain solutions being developed to solve the problems of industries such as finance, insurance, supply chain, healthcare and advertising.

However, the best use case for the blockchain technology would be an ecosystem that utilizes all its features while providing a range of solutions to the world. EraSwap is one of the examples of such systems.

Era Swap is a blockchain-based ecosystem which incorporates multiple applications (or platforms) which are interlinked with each other. The major components of Era Swap Ecosystem are - Time Swappers, Era Swap Wallet, ComputerEx, Blocklogy, and TimeAlly. Each of these applications solves a particular issue to help grow the overall system. 

Now, one might wonder why so many apps are needed in a single ecosystem. Like I said, each of these apps solves a particular issue.

Time Swappers is a P2P marketplace for the exchange of tokenized time. Freelancers can use this platform to connect with clients and sell their time in exchange for value-based tokens. Era Swap Wallet provides a secure and strong payment mechanism based on Era Swap Tokens (EST), the native digital asset of the Era Swap ecosystem. ComputerEx is a digital exchange that allows in-wallet swapping of digital assets like tokens. TimeAlly is a smart contract designed with the purpose to minimize the volatility of EST by controlling the demand and supply of the tokens.

As you can see, each application in the Era Swap ecosystem has its own role which adds to the growth and success of the overall system.

For more details: http://www.blocklogy.org/

Download: https://play.google.com/store/apps/details?id=com.blocklogy.appp

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