Blockchain projects imply a shared, fixed ledger for keeping a record of transactions. Blockchain technology duplicates and distributes the ledger of transactions across the connected computer networks. Every block in the chain contains a record of transactions, and it records every new transaction. Blockchain technology uses decentralized databases managed by multiple participants. Blockchain utilizes Distributed Ledger Technology (DLT).
Further, blockchain technology is famous due to the invention of cryptocurrencies. Blockchain technology is in use in other fields as well. Businesses are switching to Blockchain technology due to its transparency and swiftness. The reliance on blockchain technology is rising due to its efficient security features. It is also because of its immutable record-keeping. Some university students also initiated some innovative blockchain projects in the same vein.
Security and efficiency are the hallmarks of blockchain technology. Innovations in this field can be rewarding. So, we will compile a list of some innovative blockchain projects which can inspire you to kick-start your innovative journey. This article by researchers of Affordable Dissertation UK aims to highlight six prominent blockchain projects started by university students.
Gradbase is a blockchain project initiated by a group of third-year Computing project students. The group comprises the following members:
- Cedric Colle
- Alberto de Capitani
- Kenneth Lindroos
- Andrej Maris
- Tomas Virgl
- Kacper Zylka
This group of students designed a blockchain project to store and verify academic qualifications through blockchain technology. Let’s highlight the key features of this project.
- Gradbase allows instant verification of personal qualifications powered by blockchain. It is helpful for employers seeking to verify candidate’s experience.
- Powered by blockchain technology, Gradbase can detect false information mentioned in your resume by verifying the claims.
- Gradbase issues a QR code for CVs, LinkedIn and online profiles.
- These QR codes, when scanned, can ascertain the underlying qualifications and experiences.
- QR codes on CVs and LinkedIn profiles make the graduates employable worldwide.
- Gradcodes on CV and profiles make them trustworthy and makes your profile discoverable.
A group of students collaborated with Seezart, which relies on blockchain technology to buy and sell artworks. Artists have the freedom to check, certify and notarize the sale and purchase of artworks and paintings. You can verify the authenticity of artworks you love with just a few clicks. Further, a decentralized global ledger records information of an artwork. Collectors can now get the certificate of authenticity and legal titles due to this blockchain project.
Visualizing the Bitcoin Blockchain
Dan McGinn, a graduate of Imperial College London, masterminded a blockchain project to visualize bitcoin data. Dan developed real-time visualizations of transactions in the blockchain. This blockchain project sheds light on novel ways of reading complex data. Further, the visualization of bitcoin data helps to discern the patterns of high-frequency transactions. It also helps to determine automated laundering operations. It can systematically visualize the public ledger.
Blockchain Education Network
Blockchain education network was an initiative of MIT students. They also collaborated with students from the University of Michigan. Many universities worldwide do not have a dedicated curriculum for blockchain technology. BEN platform comprises a network of students, alumni, professors and professionals. Further, their purpose is to provide quality education on blockchain technology to students and pursue opportunities in that industry. BEN has over 4000 members who share and discuss ideas about blockchain technology. They also build their prototypes.
Rajat Lala and Chintan Thakkar from the Ahmedabad University of India founded Solulab. The blockchain project has the following features.
- Builds blockchain applications for healthcare, finance, education media and real estate
- Provides blockchain development solutions and services
- Offers private blockchain development, apps development service
- Integrate Information of Things with blockchain projects
- Utilization of Artificial Intelligence (AI) to access quality data for blockchain-based applications
- Uses Truffle, Ethereum, Hyperledger and Quorum
Solulab also provides blockchain consultation and invests in startups. They build developer tools and provide a platform for blockchain education.
Flux uses blockchain technology that facilitates the remittance business founded by two Nigerian students. Ben Eluan and Osezele Orukpe wanted to make the international payments efficiently. Their crypto remittance app utilizes blockchain technology, enabling merchants to send and receive money. It is easy and convenient to use. Also, merchants can send and receive money through this app from anywhere in the world. Further, it differs from other crypto remittance apps because of its speedy transactions. Flux charges $0.50 for every small and large transaction. Payments are a hundred times cheaper on Flux than fiat. In 2020 Pioneer partnered up with Flux to give the founders access to funding streams. After integrating with Pioneer, Flux raised $77,000 pre-seed investment from investors such as Hustle Fund and Mozilla.
Success Story of Flux:
Flux has over 5,000 customers who made successful transactions of $750,000 in remittances and cross border payments. The growth trajectory of this blockchain startup is growing at a rate of 40% per month. It has a total revenue of $25,000. The company is struggling to expand their reach to U.S and U.K because the Central Bank of Nigeria is cracking down on cryptocurrencies. The team also hope to develop a peer-to-peer transaction network that will allow its users to make transactions in a shared environment of trust. Flux has an option of Flux Merchants, which facilitates the buying and selling of products and services. Once somebody buys or sell the product, they get the payment through the Flux app.
Eluan and Orukpe are both university dropouts from Obafemi Awolowo University. They both were from the engineering department and formed a programming club in their freshman year. During the club meetings, they used to write codes and make applications. University’s tech talent was the contributing factor in founding Flux. The founders hope to gain acceptance in the Y combinator. Also, the startup currently operates from Lagos. Further, it competes in the payments market against companies like Chipper Cash, Flutterwave and MFS Africa.
Blockchain projects initiated by university students will bring revolutionary changes in every field of life. Further, blockchain technology facilitates decentralization in every aspect of life, a much-needed initiative. University students can seek inspiration from the aforementioned startups and contribute to blockchain technology development.