Recent Blockchain Innovations: Q4 2021
As crypto markets have experienced constant ups and downs throughout 2021, one aspect of blockchain has remained consistent: continued adoption and innovation.
In the latest look at recent blockchain innovations, we highlight a major step for play-to-earn gaming, a revolutionary social media platform, a bitcoin-backed auto loan offering, and a nationwide application of Cardano that could have global implications for digital assets.
Ubisoft enters play-to-earn gaming space
It was initially announced in mid-October that Ubisoft had invested in blockchain and mobile tech company Animonica Brands. Now, the leading developer behind such massively popular games as the Assassin’s Creed and Far Cry franchises, has announced its intention to use blockchain technology within its own games.
The gaming giant plans to use blockchain to enable a play-to-earn structure that will allow players to earn and own content within its games – a concept that has already gained widespread popularity on other platforms.
Ubisoft said it sees blockchain as being “very attractive for the long term” and as a “revolution” within the industry. As play-to-earn gaming has already been ramping up, this represents a major step as a global leader in gaming takes a step into the space.
UNIMOON’s blockchain-based social platform
In another new development for blockchain, UNIMOON is being touted as a social media platform promoting zero privacy concerns, fair attribution, and renumeration for creating unique content. The platform will be decentralized in nature with power lying in the hands of each user rather than those of a giant global entity.
The overarching goal of UNIMOON is to create a revolutionary social media network that empowers users while also competing with the largest names in social. In practice, the app rewards content creators and consumers with UNIMOON coins, redistributing ad revenue to users based on various measurements of merit and activity.
UNIMOON is currently holding fundraising rounds to support the project that would represent a step toward what many crypto proponents view as the ideal, decentralized future of the internet.
Bitcoin-backed auto loan payments
In a recent announcement, Houston-based Post Oak Motor Cars and crypto custody firm NYDIG unveiled a partnership enabling the luxury auto dealer to sell vehicles through bitcoin-backed loans, thus giving Post Oak’s customers access to bitcoin custody and lending – among a full suite of other services.
As part of the offering, customers are not required to make any interest payments during the life of the loan, and those that do not wish to sell bitcoin can access a portion of its value by borrowing USD and using bitcoin as collateral.
The move will enable Post Oak to use appreciated bitcoin treasury holdings to finance further expansion, in addition to allowing employees to allocate a portion of their paychecks to bitcoin. While the announcement is only a few days old, Post Oak has already sold its first luxury automobile financed with bitcoin – a Rolls Royce Ghost.
Cardano’s digital transformation of Ethiopia
IOHK – the team behind the rapidly growing crypto Cardano – has been in Africa in recent weeks to meet with entrepreneurs and politicians to discuss new opportunities for the network. These meetings have included a visit to Ethiopia’s Ministry of Education to follow up on a student credential system concept initially mentioned in August.
At its core, the credential system sets out to overhaul the academic records of 5 million students by putting information such as attendance and grades on the blockchain to capture the data and to provide a digital identity system. Down the road, the goal is for the system to eventually be used to launch a national ID system in the country – which would increase usage from 5 million users to 110 million.
The initiative – called the Cardano Atala Prism project – ranked 14th out of 50 on the Project Management Institute’s list of the most influential projects of 2021. It represents the largest blockchain deal ever signed by a government and shows how crypto can help drive positive socioeconomic change in countries throughout the world.
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