Crypto Companies with Working Products: Far and Few
Having Working Products Matters to Investors
A great indicator of when a cryptocurrency means business, and is hoping to be taken seriously by the world of investors is having a working product. When looking over a large list of companies, investors and fund managers are likelier to pick established companies that have released a working product over one that has zilch to show besides big promises and a shiny white paper.
It shows a lot of work has already gone into the company, and its development- most of all in the crowded Crypto space it shows that a company is ahead of the curve. If you have a product you can pitch to businesses, you are less likely to be usurped by a new competitor.
In the tech space, companies that come up with a technology and achieve brand recognition tend to stick around- it’s hard for a new company to compete in a sector with well established companies. For example, it’s highly unlikely that another company offering smart contracts can become as big as Ethereum unless it had some major economic or technological advantages over Ethereum.
Cryptocurrencies with Working Products
1. Ethereum – Smart Contracts
Ethereum focuses on running ‘smart contracts’. These are decentralised applications that cannot be interfered with in any way as they run on a custom Ethereum blockchain.
Use cases include a decentralised bank, ledgers for multiple industries, online games (see: Cryptokitties)
Factom – Harmony & dLoc
Factom Harmony organises data and files across a huge distributed network, validating and verifying the integrity of the files as it goes.
As with a contract, it can be used to support transfers of ownership, and detail complex transactions of for example company data. A potential use case is company mergers — Factom is largely aimed at large businesses.
Factom Dloc is a system developed with Linxens to secure files on the factom blockchain, through the use of a digital sticker which marks documents and is linked to the creators private key. A file viewer app is used to organise the marked documents.
SiaCoin – Cloud storage on the
The Sia blockchain is a marketplace for decentralised data storage. Sia has managed to create a more accessible, and cheaper version of traditional cloud storage systems.
The blockchain acts as the security underpinning the technology, allowing for a cheap, scalable solution to an eternal problem.
iEx.ec – RLC Token
Allows users to either help to host or directly use a decentralised computing network. The RLC token is used as the currency for this service.
The use cases for this potentially enormous network include big data, artificial intelligence, incorporation into the Internet of Things (IoT), graphic design as well as any other resource intensive field.