09.11.2020, 07:25

Startups re-defining the blockchain industry

Startups re-defining the blockchain industry

6 startups introduced blockchain solutions and new business models in the final round of the “Infinity Blockathon for City Transformation 2020”, Infinity Blockathon 2020 contest on November 7.

In appreciation of the concept of digitized, decentralized ledger that of a tightly secure, these startups explored the application to healthcare supply chain, insurance technology and digital travel sectors.

Related: Vietnam’s Sky Mavis secures $1.5 million funding to accelerate the development of blockchain-based game

The champion, Penta Flagship, with 5 members from Mongolia, Indonesia, Thailand and Vietnam launched a supply chain technology model in the health industry because they think blockchain does a good job of security for patient users.

Penta Flagship believes that the blockchain platform is the best technology in the medical industry to connect the chains in the healthcare supply chain because of its ability to transparently share data in real time, saving storage and high security.

After the competition, the team will work together to continue product development despite geographic constraints.

Inha, with only one member, the programmer Long Thai, participated in the contest to learn more about blockchain. Mr. Long wants to join the medical supply chain with traceability products that can attract the niche market of small manufacturers. He hoped to use blockchain-derived tokens as a resource to increase the company’s size in the future.

The TechBlock, the team with 4 RMIT Vietnam’s students also participated in the contest because they wanted to learn more about programming blockchain and planning business models using technology from experts.

In the contest, TechBlock brought the idea of building customer data for the insurance industry, thereby customizing insurance products for different individuals. TechBlock is working to bring chatbot with built-in blockchain technology to increase interaction with customers.

DevTech also provides blockchain applications for the insurance industry, The members are IT engineers, bringing patients’ databases to the insurance industry. The other two groups, UEF Fit and STW offer blockchain solutions to showcase travel destinations and products.

UEF Fit and STW value blockchain technology in the way it promotes travel thanks to its transparent feature for ranking functions. The blockchain solution will block the user’s capability to fraud in ranking.

In addition, young users who use technology platforms well will also be attracted to the token from the blockchain system. Token will be used as a tool to attract users and customers to the platform.

The First Prize winning project has received an award of USD 5,000 sponsored by Infinity Blockchain Ventures and will go to “The Next Big Ideas Vietnam” contest organized by Zone Startups Vietnam.

Infinity Blockathon 2020 is the continuation event of the first Hackathon in Vietnam on blockchain organized by Infinity Blockchain Ventures (IBV) and Asia Blockchain Review (ABR).

The contest has senior advisors from many prestigious organizations such as New Zealand Business and Trade Development (NZTE) and Ho Chi Minh City University of Economics. In addition, advisors and judges come from incubators, TopDev investment funds, ThinkZone …

By My Huyen