Recent Blockchain Innovations: Q2 2021

recent blockchain innovations

Date Published

07/09/2021

While the cryptocurrency landscape has experienced its share of ups and downs over the past several months – namely concerns surrounding mining sustainability and corresponding price dips – the penchant for blockchain innovations has refused to slow.

In a time where crypto markets are as volatile as they’ve ever been, blockchain startups and never-before-seen applications continue to find ways to push this technology forward.

Here are some of the most notable and exciting blockchain innovations in recent weeks, along with what they may mean for the future of the industry.

Daymak Spiritus: The crypto mining electric car

Daymak – a pioneer of personal light electric vehicles (LEVs) – recently unveiled the first electric car to ever mine cryptocurrency. The car has been dubbed the “Spiritus,” and its prototype began mining crypto on June 29, 2021, using the Daymak Nebula platform.

Nebula is the first comprehensive crypto suite for electric vehicles and will allow every Spiritus to mine and manage crypto from anywhere on the planet. The main idea behind the Spiritus is that while other cars sit in the garage and simply depreciate over time, this car has the potential to begin paying for itself, even when it’s parked for extended periods.

Owners can mine crypto and complete transactions using the built-in Nebula wallet, and you can even preorder a Spiritus using crypto funds. The trickle-solar-charging and lower carbon footprint inherent in driving an emission-free daily driver is designed help the Spiritus fleet eventually become one of the most environmentally friendly means of crypto mining on Earth.

Those interested in tuning in to see how much money the Spiritus prototype is generating can follow along at freecryptocar.com.

Braintrust: The blockchain-based recruiting platform

Blockchain and AI are also beginning to enhance the talent acquisition realm, as Braintrust – a blockchain-based digital talent freelancer – aims to connect technical and design freelancers with U.S. companies via a bidding system. When companies hire freelancers through the platform, they pay Braintrust 10% of the bid amount as a fee.

Ownership and governance on the Braintrust network are represented by the BTRUST token, which serves as an incentive to reward the community for continuing to build the network. BTRUST can be earned by inviting freelancers to the network, by inviting employers to hire on the network, and by completing peer-to-peer vetting. Tokens can then be redeemed for perks, including free and discounted software, products, career resources, and more.

The goal behind Braintrust is to reward those that create value on the network, rather than solely rewarding the network itself.

CryptoMiner: The crypto education game for kids

Experts in the fintech industry predict digital currency will completely replace paper money by 2030, setting the table for a massive global need for blockchain developers. Researchers at UTSA are working to get ahead of that need by developing a new game that will teach kids the concepts of blockchain and crypto.

The game is CryptoMiner, a strategy-based tabletop game with cards and a board that attempts to emulate how transaction blocks are added to a blockchain by miners. Even adults can have difficulty understanding this technology, and this game makes learning more accessible and could help kids gain a firm grasp on these ideas before they even hit adolescence, helping to foster the next generation of blockchain pioneers.

New blockchain bills in the Senate

While not strictly an innovation or an application, the news of two new blockchain-focused bills passing the House and heading to the Senate is still more than worth noting in terms of recent developments.

The first bill – the Blockchain Innovation Act – will mandate a report on the use of blockchain in trade applications and how it can be used in tackling fraud. This is seen as a first step toward the long-term goal of setting up a Blockchain Center of Excellence in the Department of Culture.

The second – the Digital Taxonomy Act – requires the FTC to produce a second report looking specifically at unfair and deceptive practices in crypto. The industry has certainly never had a shortage of scams and deception, and there is hope this bill will reduce that trend and overall criminality in the sector in general.

While senators have proven difficult to gain support from in the past, the progress of these bills still represents a step in the right direction toward further blockchain and crypto adoption in the U.S.

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Date Published

07/09/2021

Author

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