Global Startup Heat Map Highlights 10 Blockchain Startups to Watch in 2023
Through the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, which covers more than 3,790,000+ startups and scale-ups worldwide, we identified 1952 blockchain startups. The Global Startup Heat Map below highlights the 10 blockchain startups to watch in 2023, as well as the geo-distribution of all the 1952 startups and scalers we analyzed for this research. Based on the heatmap, we see high startup activity in the US and the UK, followed by the rest of Western Europe and Singapore. These blockchain startups are working on solutions ranging from peer-to-peer transactions (P2P) and decentralized finance (DeFi) to blockchain gaming and tokenization.
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As the world’s largest resource for data on emerging companies, the SaaS platform enables you to quickly and comprehensively identify relevant technologies and industry trends. Based on the data from the platform, the Top 5 Blockchain Startup Hubs are in London, Singapore, New York City, San Francisco and Dubai. The 10 hand-picked startups highlighted in this report are selected from around the world and are developing solutions for traceable transactions, product identification and data integrity.
10 Top Blockchain Startups to Watch in 2023
Implementation of smart contracts enables automated and self-executing transactions, which are applied in various industries. For example, smart contracts automate the process of buying and selling properties in real estate, eliminating the need for intermediaries such as lawyers and real estate agents. Similarly, in supply chain management, blockchain-based smart contracts are used to track the movement of goods from their origin to their destination. This ensures transparency and prevents fraud. In finance, smart contracts execute transactions themselves to enable instant cross-border transactions, automatic settlements and more. Using blockchain saves time and reduces costs while increasing security and transparency.
CnerG simplifies energy procurement
South Korean startup CnerG offers a cloud-based clean energy procurement market and transaction management platform. It uses smart contracts for the origination, execution and settlement of power purchase agreements (PPAs) and energy attribute certificate (EAC) trading. These smart contracts, based on the startup’s proprietary blockchain technology, provide transactional transparency for both global and local energy markets. Additionally, it integrates Ethereum and Quorum protocols to facilitate private bilateral PPAs and EAC transactions as well as open auctions. Owners, operators and investors of renewable energy assets use CnerG’s platform for data-driven clean energy trading and generating asset management and investment optimization.
Protocol provides digital product passports
Dutch startup Protokol develops a blockchain-based platform and smartphone application to create digital product passports and manage product identity. Brands generate digital twins of their products in an immutable digital ledger. It records product lifecycle event data, provenance, manufacturing and repairs, among other things. This improves the traceability, transparency and marketability of the product and limits counterfeit goods and fraudulent supplier practices. Likewise, customers scan the code attached to the product’s digital twin to claim digital asset ownership or optimize resale verification. Luxury brands and consumer goods industries use this customizable platform to improve customer trust and brand protection, as well as ensure regulatory compliance.
Origami promotes DAO creation
US-based startup Origami makes a DAO operating system (OS) for organizations to build their own DAOs. It is a centralized platform to manage the DAO and facilitates the voting of members in the chain on various DAO proposals. The platform also provides non-fungible tokens (NFTs) to validate onboarding members and protect private resources, as well as issuing governance tokens for member compensation. Organizations gain access to Origami partner network and data-driven guidance to launch and grow their own DAOs with customized requirements.
Axel enables Low-code DeFi Development
US-based startup Axel offers developer application programming interfaces (APIs) and software development kits (SDKs) for DeF. The startup’s plug-and-play SDKs allow developers to integrate DeFi into any application. They support native integration in the backend and frontend as well as across multiple blockchain protocols while performing non-custodial transactions. It contains input parameters and customization of user interaction for developers to build fintech applications. Axel therefore enables enterprise-grade wallets, decentralized exchanges (DeX), aggregators, neobanks and other fintech applications to build new DeFi features while ensuring blockchain interoperability.
Truffles is building an international payment platform
UAE-based startup Truffles is developing a decentralized platform to offer on-chain business banking services for cross-border payments. The startup platform supports blockchain-enabled banking services such as invoicing, accounting integrations, global fiat banking and institutional onboarding and onboarding. It speeds up the time for international remittance settlements and provides fraud prevention through private NFT-based invoices and compliance integrations. Companies use this platform to streamline transactions and adopt Web3 to promote business banking.
AllesHealth maintains a Secure Medical Records Library
Swiss startup AllesHealth offers a blockchain-powered platform to unify patient health data from multiple sources. It enables patients to store their health records digitally and anonymously and share them with clinical research organizations (CROs). The platform’s medical record library ingests data from labs, wearables and medical records and puts patients in control of their data using blockchain encryption. It facilitates patient health journey mapping, treatment personalization and proactive disease management for clinicians. Additionally, it enables patients to monetize their health data and provides CROs and hospitals with real-world evidence (RWE) to drive clinical trials.
CiRCLR provides a waste processing platform
New Zealand-based startup CiRCLR is building a waste processing platform to reuse and reduce waste from business operations. The startup’s business-to-business (B2B) platform uses blockchain and artificial intelligence (AI) to measure, track, trade and report on sustainability claims. These audits enable businesses to minimize waste and encourage sustainable practices. Furthermore, the platform connects businesses that produce non-edible waste with other verified businesses to aid the exchange of waste. In this way, businesses achieve net zero targets and use these impact measurements to attract sustainable financing.
Archipelago facilitates document verification
French start-up Archipels is developing a web3 platform for the digital verification of documents and data. It provides solutions for document and data certification, authentication and verification. The startup’s Archipels Verify APIs and SDKs use blockchain to verify the integrity of documents at the issuer or source. In this way, businesses, banks and public service organizations speed up the time to detect documentation fraud and authentication processing time. Additionally, it enables faster customer onboarding by reducing time and errors in know-your-customer (KYC) and other regulatory compliance.
Oasys promotes Blockchain-integrated game development
Singaporean startup Oasys offers a game-optimized blockchain that aids game development and distribution. Its autonomous blockchain gaming ecosystem provides a proof-of-stake (POS)-based eco-friendly blockchain that increases the adoption of the play-and-earn economy. Its blockchain architecture combines layer-1 with network stability and data availability with layer-2 containing no gas fee, fraud resistance and flexible tokenization. These features eliminate common problems such as transaction and network security faced by blockchain game developers. This enables rapid and scalable game development.
Shelter Blockchain Technologies Facilitates Real Estate Investment
Spanish startup Shelter Blockchain Technologies offers a real estate investment platform using blockchain-based smart contracts. The startup platform offers its own token, shelter utility tokens (SUT), as investment instruments for real estate projects and properties. It registers properties, provides NFT auctions of vacation rentals and enables project crowdfunding. The platform aims to scale up to other real estate services using the SUT tokens and offers safer investments during volatile periods. Small real estate projects use this platform to receive project investments from retail investors.
Discover all upcoming Blockchain startups
The 10 blockchain startups featured in this report are just a small sample of all the startups we identified through our data-driven startup exploration approach. Download our free Industry Innovation Reports for a broad overview of the industry or get in touch for quick and complete research on the latest technologies and emerging solutions that will impact your company in 2023!
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