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Beyond Currency: Exploring Use Cases of Cryptocurrencies

UTC by Manoj Sharma · 4 min read
Beyond Currency: Exploring Use Cases of Cryptocurrencies
Photo: Depositphotos

There is an array of innovative crypto-backed solutions. Many are promising but still quite new to the marketplace. It remains to be seen where they’re headed and just how much they could impact the world.

Over a span of a decade, cryptocurrencies have slowly but surely made their way into our lives. In 2009, it was just Bitcoin trying to decentralize the financial system, but today, there are thousands of cryptocurrencies each one trying to create its own impact on the world. Speak of finance, technology, aviation, media, entertainment, real estate, healthcare, or any other industry, you will find that cryptocurrencies have found a way there.

Here’s taking a look at some of the most surprising ways in which cryptocurrencies are being used in today’s world.

From Healthcare to Space Tech and Beyond

The first one on the list has to be the Stem Cell Coin ($SCC). This is a unique initiative by the Stem Cell Project that is trying to popularize stem cell therapy and make it accessible to the masses. Holders of this coin will supposedly be able to pay for all the services rendered by Stem Cell Project and its affiliates using this coin.

Then there’s the SpaceChain Coin ($SPC) integrating blockchain technology in the space sector in an innovative way. The project is essentially trying to create a decentralized satellite infrastructure in low earth orbit. This infrastructure is backed by the blockchain and can be owned and operated by multiple parties.

Finally, we have CPROP trying to decentralize the real-estate realm. This project offers blockchain-based solutions in several areas of real estate like construction, development, investment, and brokerage.

If all these projects were not enough, we also have emerging cryptocurrencies promising to make health, wellness, and mindfulness a part of our daily lives.

The Mindfulness Crypto Trend

The need for mindfulness in this day and age is clear. Anything that doesn’t seem to be productive or immediately beneficial is almost instantly deemed useless. Even the thought of sitting still for a few moments scares some people. But what if we’re rewarded for it? What if our daily yoga session could earn us a few dollars? Would we do it? Absolutely! This is the approach that crypto-backed mindfulness solutions seem to be going for.

For instance, BudaCoin ($BUDA), a token created to promote mindfulness and improve mental health among people. The coin is used in a mobile application called BudaMind, which incentivizes people to practice mindfulness by rewarding them with crypto and makes mindfulness education more accessible to everyone. Content creators on the platform are paid for teaching mindfulness practices, while consumers are rewarded with $BUDA for practicing mindfulness and meditation.

Apart from this, BudaCoin holders can stake their tokens into high yield liquidity pools for rewards. These liquidity pools will, in turn, be used to fund the BudaMind app and meditation rewards.

The platform also aims to go all in and create an NFT marketplace for digital assets related to mindfulness. These assets could be art, guided meditation, meditation music, and the likes. BudaCoin also has a charitable component. They have already donated $20,000 USD to the American Foundation for Suicide Prevention and plan to continue to issue donations to organizations working in the realm of mindfulness and mental health.

With NFTs and cryptocurrencies being the hottest trends of today, BudaCoin has definitely struck the right chords to rope people into the mindfulness realm. Encouraging mindfulness practices by rewarding people’s efforts.

Simplifying the Supply Chain

Integrating blockchain with the supply chain means trust, transparency, efficiency, and authenticity in the market. This is why we have an arena of emerging projects trying to combine the two chains. One of them is VeChain ($VET).

This Singapore-based firm uses blockchain technology along with RFIDs, NFCs, and QR codes embedded within products to track them across the chain in real-time. This project has already managed to bag partnerships with companies like BMW and Walmart China.

Conclusion

There is an array of innovative crypto-backed solutions. Many are promising but still quite new to the marketplace. It remains to be seen where they’re headed and just how much they could impact the world. But, if implemented well, they could positively influence the next generation in ways unimaginable.

Guest Posts
Julia Sakovich
Author: Manoj Sharma

Manoj helps DOERS turn their ideas into reality by providing quality content on blockchain technology, cryptocurrency, ICO, etc. He had already worked with some of the leading FinTech startups, Blockchain and Crypto news publications, and established businesses.

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