Cryptocurrencies are taking over in almost every industry and growing exponentially over the last few years.
There are currently more than 860 cryptocurrencies listed on CoinMarketCap, with an accumulated market of around $145 billion. In this article, you will discover which cryptocurrencies have applications in real-life…
Ethereum
Have you ever thought about buying property with your cryptocurrency? Blockchain has made this possible. Propy.com is the world’s first international real-estate marketplace, which accepts Ethereum to enable the purchase of a property.
Ethereum can also be used in health. It will completely change the health-care system – a patient’s documents will be able to be safely shared with other hospitals and GPs, making this a much more efficient process if a patient was to get ill abroad.
Ethereum’s blockchain can be used by governments to store information, including grades, classes, various degrees, education and other personal information about students. By doing this, it helps prevent fraud and allows the information to be shared safely with potential employers.
Ripple
Ripple is raising its real-world use of XRP in a major way. The technology is being used by hundreds of banks across the world. Ripple has a solution called xRapid which will help banks with liquidity when they are trying to send money to emerging markets. Santander is currently using one of Ripple’s blockchain-based products called xCurrent. Which essentially makes the process of checking information much quicker, it also does not need any cryptocurrency to work.
Bitcoin
Bitcoin allows you to pay for many real-life resources. One of these being recruitment and salaries. The more popular cryptocurrencies become, the more employers will start to pay their staff with it. A lot of companies have already begun to do this, with Victvs being one of these. Victvs – an international trading consultant in Leeds, UK – allows its staff to choose if they want to be paid in Bitcoin or not.
Monero
Monero came into the market in 2014 with an idea of making anonymous, private and fungible digital money. In 2017 Monero started to inch closer to its original goal as they now have successfully tested and implemented ring signatures and stealth addresses. Monero has a practical use case which it is still trying to implement.
Stellar
Stellar Lumens has enjoyed massive success since its release in 2014. It has been a success with companies such as Deloitte Co. which has employed it for some of their processes. Deloitte uses the Stellar network to manage smaller payments, and it has seen the benefits. The transaction costs went down by 40%, and with the process and validation of the transactions only taking five seconds, it is no wonder Deloitte chose to use this network. These benefits also opened the opportunity to increase the customer base and profitability of the company.
The number of cryptocurrencies which have real-life applications will keep on increasing over time as the ecosystem matures. This is a list of just a few of them. Keep an eye on CoinRivet.com for all of the latest news and prices of these flourishing cryptocurrencies.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.