Blockchain: Imagine the Impossible
Blockchain technology has become the center of attention in recent years. Like information technology, many believe that it will change the way we live, as we head to a future where value can be created and exchanged without friction
A blockchain records information like a bookkeeper and timestamps it like a postal worker. The only difference is that the transactions are turned into codes and stored in various locations. Because of that, it adds a layer of trust as the information can’t be easily altered.
With this technology, plenty of possibilities emerge as to what the future can bring. Various use cases highlight the expectation of so-called the rise of the Internet of value.
blockhive, an Estonia-based blockchain technology company with roots in Japan, creates practical and innovative solutions for companies, helping them navigate and unlock new markets. In the form of partnerships, blockhive is building an ecosystem where all of its partners can prosper through collaboration.
By using blockchain, blockhive has created a new fundraising solution called Initial Loan Procurement (ILP). ILP enables companies and organizations to raise funds in the form of a loan. Individuals, no matter where they are, can now contribute to the cause they believe in or the companies they think will perform well by becoming a creditor.
This concept is not only unconventional, it has also never been done before until now. That is because the cost of tracking and paying these creditors would have been too high for it to make any business sense. With blockchain technology and cryptocurrencies, ILP emerges as a new solution to organizations, social enterprises, companies or even municipalities with funding needs.
What’s more is that these loans can be traded using a utility token called Future Loan Access Token (FLAT). FLAT is a generic term for the tokens that gives creditors the ability to trade their loans with others, as well as the right for new token holders to sign loan contract with the borrower.
Another use case of blockchain technology by blockhive is its eesty smart wallet. The application makes it possible for users to send, store and receive cryptocurrencies. blockhive doesn’t keep any personal data of its users, and all the transaction data are encrypted and stored on a blockchain. eesty enables users to earn cryptocurrencies while managing all of their digital assets with ease. The users can accumulate loyalty points called ESTY tokens that can be exchanged for the hash power of blockhive’s mining facilities in Estonia.
The birth of the Internet has brought a wave of change that was unseen before. Blockchain technology that is designed to stay decentralized carries renewed hopes and expectations. As we shift from the Internet of information to the Internet of value, the value creation will look very different. Are you ready to imagine the impossible?
**This is a guest blog post by blockhive, a partner and sponsor of Latitude59 2018.