Blockchain has exploded in popularity in the past year, so much so that it was covered as a main piece by the hit comedian John Oliver on his show Last Week Tonight. However, this sudden fame for this novel technology isn’t without merit. It has proven to be incredibly helpful in a plethora of industries, streamlining and advancing processes in numerous ways, often through incredible partnerships.
For example, Sierra Leone recently teamed up with Agora, a Swiss-based blockchain startup, and became the first country in history to use blockchain technology to verify voting results in their presidential election. And it doesn’t stop there. Around the world, companies are teaming up with blockchain experts and startups to push their industries further.
Another Switzerland based blockchain company, SophiaTX, has announced new partnership plans, with Biotron.io, a personal data analytics platform which provides businesses with detailed user information, which will adopt the SophiaTX blockchain to allow data transparency and to support the analytics it provides to customers.
In addition, the blockchain will also leverage micro-transactions to compensate data owners, who are able to decide what kind of personal data is harvested and subsequently receive revenue from each sale.
This announcement adds to SophiaTX’s recent success regarding the news that Equidato Technologies AG (Equidato), a technology company developing the SophiaTX Blockchain platform, will partner with Ernst & Young (EY) to jointly present a concept of automotive supply chain management support using blockchain technology at the NEWMATEC 2018 Conference (13 to 14 March 2018, Partizán Hotel, Tále).
The Biotron adoption is the latest to stem from SophiaTX’s commitment to actively offer its blockchain and services to new businesses where blockchain will be critical to success. Concurrently, the company is also driving blockchain adoption in businesses of all sizes, such as the recently announced collaboration with EY (Ernst and Young). Jointly, the two companies are developing a blockchain-based automotive supply chain management support solution, and a working system was presented to the automotive industry at the Newmatec 2018 conference this week.
In addition, the SophiaTX team is working to support blockchain integration within the SME sector, and currently developing a set of products such as ERP, Point of Sales and IoT integrations which will directly embed its blockchain into small and medium sized business operations.
Commenting on this approach, SophiaTX CEO Jaroslav Kacina explained: “Choosing this strategy provides us with well balanced mix of clients and types of business to support widespread use of the platform and most importantly holistic adoption across industries. Blockchain has a potential to redefine industries and its respective value chains and thus it is crucial to onboard all industry and cross industry players.”
The current momentum for large companies to announce blockchain projects will likely result in years of development before a system comes to fruition. Conversely, small to mid-size businesses are significantly more agile and motivated to adopt blockchain while multiple emerging projects have blockchain as a key factor of their success.
The varied adoption of the SophiaTX platform indicates that a growing number of businesses are recognising the benefits of incorporating a fully serviced platform over building their own system, and each new partnership demonstrates the nature of blockchain as an inherent business feature rather than a complex technology.