More than ten years have passed since the world witnessed the most popular cryptocurrency, Bitcoin, and the exceptional functionalities with blockchain. After many years of evolution, there are many blockchain project ideas under development, and many have already captured the attention of people and industries all over the world. You can find various decentralized applications in the present times for trading and access a wide range of functionalities with the available options.
Now, many people might think of the higher availability of different blockchain projects as a favorable factor. On the contrary, the massive portfolio of blockchain projects 2021 can be confusing for users. Do you want to opt for public blockchain projects that utilizes Ethereum? Or, do you want to utilize functionalities of private blockchain projects such as Fabric or Corda that have a better potential for revolutionizing the blockchain landscape? A blockchain project list can help you get rid of all your confusions and make the right choice when it comes to blockchain development.
On the other hand, some users or enterprises might be open to possibilities of switching to newly introduced blockchain projects. However, you are most likely to lose your direction along the way if you don’t have the right guidance. The following discussion outlines some of the notable alternatives that can be crucial for transforming your blockchain project ideas into reality.
Top Blockchain Project Ideas for 2021
With the industry leaders taking initiatives from the front, many blockchain project ideas are slowly witnessing the light of the day. New blockchain-based projects are popping up for resolving the inefficiencies noted in the existing world. So, without wasting any further time, let us dive right into the list of best blockchain projects 2021.
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1. AP Moller-Maersk
An outline of the best blockchain project list would obviously point out to TradeLens, the enterprise blockchain of AP Moller-Maersk. The shipping and logistics giant based in Denmark, leverages its blockchain, TradeLens, for the digitalization of supply chain information. Following its launch in August 2018, TradeLens has emerged as one of the best blockchain project ideas in recent times.
It has been successful in onboarding almost 50% of container ships all over the world. TradeLens processed around 1 billion shipments, 12 million documents, and around 30 million containers in 2020 alone. The numbers of 2020 for TradeLens surpassed more than double the estimates of the previous year. Furthermore, Maersk has also collaborated with Microsoft for marine insurance processing by leveraging blockchain technology.
China is one of the prominent regions in the world showcasing promising growth in the domain of blockchain innovation. The Chinese search engine, Baidu, alongside its associated fintech venture, Du Xiaoman Financial, has brought over 20 blockchain solutions together. The most notable mention among the blockchain project ideas introduced by Baidu and Du Xiaoman Financial refers to Libra Chain.
Presently, Libra Chain works as the infrastructure for three internet courts in China. The courts deal primarily with copyrights and e-commerce disputes by leveraging virtual litigation. Under the leadership of Wei Xiao, Libra Chain has been successful in supporting the filing of over 35 million pieces of electronic evidence at the Beijing Internet Court.
Another big enterprise blockchain that makes an entry among top blockchain project ideas in 2021 refers to SkyGrid of Boeing. The HorizonX venture arm of Boeing has invested considerable efforts in developing SkyGrid. It serves as a blockchain-powered air traffic control system for tracking and communicating with drones. Most important of all, SkyGrid has been successful in achieving the approval of the FAA for offering low-altitude authorization to drone pilots.
In addition, SkyGrid is also available as a free app on iPad. SkyGrid develops a permanent record of data for helping with package delivery and industrial inspections. By leveraging the power of blockchain platforms such as Hyperledger Fabric and Go Direct, SkyGrid holds the potential for powering autonomous flying taxis in the future.
4. Credit Suisse
The capabilities of Credit Suisse to use Paxos Settlement Service clearly indicate another promising entry among blockchain project ideas. The major banking player, based in Switzerland, is also capitalizing on the capabilities of Enterprise Ethereum alongside Paxos Settlement Service. Credit Suisse utilizes the Paxos Settlement Service for settling US-listed stock trades with the Instinet of broker-dealer Nomura.
The blockchain technology offered by the Swiss banking giant could help participants with the direct settlement of trades with each other. As a result, it can reduce the intervention of conventional intermediaries thereby speeding up the settlement.
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Honeywell has also emerged as one of the pioneers of enterprise blockchain technology alongside other top names in the tech domain. It is a renowned industrial conglomerate, has successfully migrated over 2 million aviation quality documents to a blockchain ledger platform. Honeywell has capitalized on the capabilities of Hyperledger Fabric for achieving the successful migration of aviation quality documents.
As a result, it can ensure the complete availability of aviation quality documents to its customer base. Honeywell also runs the blockchain-powered marketplace named GoDirect Trade. GoDirect Trade lists around $4 billion in used aviation components and has been successful in attracting over 10,000 users.
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6. IBM Corporation
IBM was one of the first major enterprises to focus on blockchain project ideas on a large scale. With the IBM Blockchain already making news across various circles, IBM has introduced the new Digital Health Pass application. The Digital Health Pass application helps organizations in verifying the COVID-19 test of an individual alongside their temperature results.
Customers such as stadium operators could select their own criteria for using the Digital Health Pass application. For example, stadium operators could select the criteria of whether a person was vaccinated. The Digital Health Pass project depends on Hyperledger Fabric and the IBM Blockchain.
7. ING Group
ING Group qualifies as one of the first banks to adopt blockchain technology. Presently, it utilizes blockchain platforms such as Hyperledger Fabric, Corda, Hyperledger Indy, Ethereum, and Quorum for leading a group of financial organizations. Together with other financial institutions, ING Group spearheads the authentication of digital-assets while ensuring compliance with global standards against money laundering.
They recently launched a project called Bulletproof, which is a better iteration of zero-knowledge proofs. It’s an extension, and it allows better data security and privacy within any distributed ledger technology. In reality, Bünz et al at Stanford, Blockstream and UCL worked with ING to launch this project for a better ZKP implementation.
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The world’s leading tech giant, Microsoft is also not far behind when it comes to blockchain project ideas. Microsoft has partnered with EY for developing one of its notable blockchain applications by leveraging Ethereum and Quorum blockchains.
The blockchain application features the capabilities for managing content rights and royalties. Game publishers such as Ubisoft and Xbox were the foremost users of the new blockchain system of Microsoft. In comparison to traditional processing, the new blockchain system of Microsoft for making automatic royalty payments.
Novartis has taken the leading stance in blockchain project development in the pharma sector. As one of the leading pharma companies, Novartis is a prominent member of an EU-based blockchain consortium focused on targeting outdated or incorrect information related to prescription inserts. Novartis partnered with Merck and the Polytechnic University of Madrid for coming up with one of the unique blockchain project ideas in the pharma sector – PharmaLedger.
The blockchain-based application of Novartis helps in scanning drug packages alongside making real-time requests to manufacturers for updated information. Patients can also access the information through scan codes. The PharmaLedger consortium is also looking for innovative uses of blockchain for fighting against counterfeit and black-market medications.
The IT branch of Samsung i.e. Samsung SDS has developed various blockchain projects for local hospitals, airports, and governments. Samsung is capable of making the most of the Nexledger blockchain platform to mark its presence in the blockchain ecosystem. Among the different blockchain projects of Samsung, the foremost entry refers to a one-stop medical claims processing service. The service enables patients for submitting claims at a hospital reception center or through a mobile or at a kiosk.
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Switzerland-based telecom giant, Swisscom, is also one of the prominent players experimenting with new blockchain project ideas. Presently, Swisscom has around 11 blockchain applications that are at different stages of development. Swisscom utilizes notable enterprise blockchain platforms such as Hyperledger Fabric, Hyperledger Indy, Hyperledger Ares, and Corda.
One of their most significant blockchain projects is the platform Swisscom Blockchain. This project offers various products such as Electronic seal, node as a service, and Swiss Trust Chain. All of these products are geared towards Swiss companies and the public sector to offer a better blockchain infrastructure for application development.
Based in China, Tencent is also a significant player in the domain of new blockchain projects. The most crucial advantage for Tencent as a developer of new blockchain project ideas is the blockchain it has developed. The blockchain developed by Tencent helps the tax authority of Shenzhen to issues around 10 million invoices. Furthermore, Tencent has also established WeBank, which offers a unique blockchain platform known as FISCO BCOS or Be Credible, Open & Source. Financial Blockchain Shenzhen Consortium (FISCO) has a member of more than 100 Chinese companies.
The interesting highlight about the blockchain project of Tencent is that over 2000 enterprises use FISCO BCOS. In addition, it also features WeIdentity, which has helped in processing over 17 million border crossings between mainland China and Macao. The other blockchain project of Tencent, WeSign, helps in reducing the arbitration processing time. As a result, it finds applications in Chinese courtrooms for recording various pieces of evidence.
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The array of blockchain project ideas in the present times also brings the name of Visa to mind. The vast network of Visa access points, including around 70 million merchant locations serves as its foremost strength. Central banks are gradually turning their focus towards minting digital currencies. So, Visa is trying to capitalize on extensive R&D for ensuring the safe flow of digital money beyond its margins.
One of the notable projects of Visa is “Visa B2B Connect.” It uses blockchain infrastructure from Chain to offer a better financial solution in cross-border payments. In reality, this project can offer a cost-effective, secure, transparent, and fast way to process all global payments.
Visa has already applied for 159 blockchain-based patents for different uses. Some of the notable examples of the uses of Visa blockchain projects include the use of biometrics for verifying an individual’s identity and improving the security of transactions. Visa has recently declared an associated with US Dollar Coin or USDC, a stable coin for increasing the speed of business-to-business payments.
MetLife is working on a bunch of blockchain project ideas, and one of them is Vitana. Recently, MetLife’s Singapore based technology research facility LumenLab released a whitepaper for the Vitana project. It’s a project geared towards parametric insurance.
In reality, this project is focused on blockchain for insurance and plans to use the technology for other insurance features. At the moment, this project is focusing on gestational diabetes mellitus that happens in pregnant women. It’s a very harmful disease and needs further financial assistance in terminating it.
Thus, MetLife is using Vitana to offer insurance specifically for pregnant women to help them battle this condition if it arises.
Discussions on blockchain project ideas could never miss out on the Food Traceability Initiative of Walmart. The retail giant employs the blockchain-based Food Traceability Initiative for detecting contamination alongside other issues for food safety. It has the capability of tracking almost 500 different items such as meat, fresh leafy greens, seafood, and coffee.
In the previous year, Walmart supported the FDA in six different food safety investigations. Interestingly, the Food Traceability Initiative blockchain application of Walmart enabled access to detailed information regarding the original source of contamination within an hour. Furthermore, Walmart plans to execute a pilot test with the US Customs and Border Protection for tracking imported goods.
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The Australian mining biggie is also a significant entry among players innovating with new blockchain project ideas. BHP is leveraging blockchain for the digitization of various operations. Some of the notable operations under the scope of BHP’s blockchain transformation include verification of supplier identities and tracking ESG or environment, social and corporate governance attributes. One of the biggest blockchain projects used by BHP is MineHub. Using the platform the company has been successful in executing the first iron ore trade on the blockchain with China Baowu Steel in 2020.
Shell is working on a blockchain project where it’s developing a decentralized digital passport system. This is one of the few blockchain project ideas they are planning to work on at present. In this project, the company will authenticate all parts, equipment and products, creating a system of data streams where each data is safely processed and preserved.
We don’t know with which company Shell is working on this project, but they are redefining the way their supply chain works.
Daimler is one of the biggest automotive multinational corporations that manufacture luxury cars like Mercedes-Benz. Now, collaborating with Circulor, they are working on a blockchain project that will track the CO2 emission in their Cobalt supply chain process. The primary target is to focus on transparency and possible solutions to reduce the transmission of CO2. More so, they also want to track any amount of secondary material that may come with their Cobalt mining.
This is one of the projects that take an environment-friendly approach to eliminate CO2 or at least reduce the greenhouse effect for good.
HSBC is undoubtedly one of the notable players in the financial domain with a vision for futuristic blockchain project ideas. The London-based bank leverages blockchain for improving the efficiency of its foreign-exchange flows throughout its global branches. As of recent reports, the blockchain ledger of HSBC has helped in settlement of almost 1.9 million trades with a nominal value of around $1.7 trillion.
But one of the prominent projects of HSBC is Digital Vault. It’s a blockchain-based platform that focuses on the digitalization of all transaction records of private placements. HSBC’s Securities Services unit (HSS) is behind this platform, and they want to ensure their investors can get access to data when the market is growing. More so, using Digital Vault, clients will get access to their private asset and the data such as real estate, debt or equity. Of course, everything is in digital form and fully secured.
LVMH is a renowned luxury-goods conglomerate based in Paris. It is leveraging the features of blockchain for tracking products. Most important of all, the blockchain project of LVMH uses blockchain platform AURA for combating against counterfeiting of brands such as Bulgari and Louis Vuitton.
Interestingly, the blockchain platform AURA has already registered almost 10 million luxury products. Developed with Microsoft and ConsenSys, the blockchain platform of LVMH establishes a new approach for combating counterfeit goods and safeguard brand integrity.
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Why It’s Important to Take a Note of Blockchain Project Ideas
Now when we have gone through the different favorable alternatives in best blockchain projects 2021, it is important to look for reasons to do the same. Many people assume that blockchain technology is the key ingredient that would determine the future of the world of finance. Blockchain project ideas can be extended beyond the world of finance, largely on the basis of blockchain capabilities for cost reduction and limited processing times.
At the same time, the transparency benefits associated with blockchain also promote its adoption across various industries. Previously we published the list of open-source Blockchain projects, with some of the leading sectors favoring blockchain integration including automobile, tech manufacturing and banking.
Additionally, big players in the tech industry such as IBM and Amazon have come up with blockchain solutions tailored for direct as well as indirect customers. Amazon gives unique blockchain extension services on Amazon Web. At the same time, IBM has developed the IBM blockchain.
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Which Blockchain Project Ideas did You Like the Most?
On a concluding note, it is clearly evident that blockchain project ideas for 2021 feature many promising mentions. However, many tools could not make it to this list, while some are still in the development stages. The gradually increasing interest in blockchain is one of the reasons for emphasizing blockchain projects in present times. Most important of all, blockchain is open source in nature, and it is possible to find out blockchain projects that fit your organization’s transformation goals.
In addition, many blockchain projects are changing the conventional assumptions about blockchain applications. Rather than just providing platforms for exchanging or mining cryptocurrency, blockchain projects are turning attention towards predictions and information. The future of blockchain and blockchain professionals is so bright.
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