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May 24, 2024
min read
Industry Updates

Blockchain is More Than Cryptocurrency

As a VC investing in blockchain technology, we have experienced blockchain making the leap from the theoretical to the practical and becoming increasingly used as a true change maker. 

We can all get distracted by the buzz surrounding blockchain, crypto, artificial intelligence, digital assets, and Web3, but what brings us back to earth is the practical applications of blockchain technology happening all around us that solve real-world problems and reshape global infrastructure & societies in more equitable ways.

While crypto is amid the first innings, driving new financial and transactional global economies, enabling investors, and creating equitable financial inclusion, the focus that we share here is on how the technology plays a crucial role in driving systemic socio-economic progress - beyond only that of crypto. 

Our leading innovators driving blockchain technology to the forefront

To exemplify and demonstrate our meaning, we present highlight startups from our portfolio who are building on blockchain to reshape global infrastructure, industry & societies in more equitable ways for a better future.

1. Trading & Investing: Blockchain is building decentralized financial (DeFi) applications beyond just cryptocurrencies. New blockchain platforms allow for lending, borrowing, trading, and more without traditional intermediaries. Examples include Xtreamly which fosters a more equitable distribution of trading benefits and CV Pad which is a launchpad for new founders.

2. Global Aid: Blockchain facilitates the execution of self-executing contracts known as smart contracts which enforce and execute the terms of an agreement without the need for intermediaries. The capability of smart contracts is huge in terms of the speed of transfer and the ability to get things done, when and where needed. Simply put, blockchain makes moving aid money simple, borderless, and programmable, as exemplified by Coala Pay.

3. Supply Chain Management: By recording every transaction on an immutable ledger, blockchain tracks the movement of goods from the source to the end consumer, ensuring authenticity and reducing fraud. Shamba Records is doing just that for farmers in Africa.

4. Data & Security: Blockchain provides secure and decentralized identity management solutions giving individuals control over their data and selectively sharing it with third parties, enhancing privacy and security. Vereign is ensuring Self-Sovereign Identity needs, Cybera is preventing cybercrime and Asvin is protecting the IoT devices.

5. Intellectual Property Protection: Blockchain is used to timestamp and authenticate digital assets, providing a secure way to prove ownership and protect intellectual property rights. Projects like Lawyerd leverage blockchain for intellectual property protection.

6. Wellbeing: Blockchain technology is improving healthcare management by securely storing and sharing data. This enhances data integrity, accessibility, and interoperability. Companies like ServBlock are digitizing pharma material traceability. Agryo connects small and medium farmers to loan providers to grow their businesses for ever-increasing food demand. Shamba Records helps farmers increase yields. Proof is protecting the planet by verifying ESG & impact data.

7. Property: Blockchain enables faster and more transparent real estate transactions by digitizing assets and automating processes such as title transfers and property listings, as demonstrated by House Africa.

8. Cross-Border Payments: Projects like Mazzuma and Ivory Pay are revolutionizing remittance and international money transfers using blockchain technology to bring faster and cheaper cross-border payments compared to traditional systems. 

9. Tokenization of Assets: Blockchain allows for the tokenization of real-world assets, such as real estate, art, and commodities. These tokens represent ownership rights and can be traded peer-to-peer, unlocking liquidity and enabling fractional ownership. Examples include platforms like DSENT and iVE One which are both focused on real-world asset tokenization and Prypose which tokenizes green investment.

10. Creator Economy:
Blockchain enables creators to receive direct payments for their work without relying on intermediaries like publishing platforms or distributors. Empowering creators with greater control, transparency, and monetization opportunities. Jamit is decentralizing podcasting allowing creators to transact directly with audiences. Fungies creates no-code shop fronts for gaming,and Blocksport connects clubs with fans. The AdHash Protocol cuts out the ad tech middlemen to bring efficiency, trust, and control.

Such examples from CV VC’s portfolio illustrate the diverse applications of blockchain technology beyond just cryptocurrencies, showcasing how the technology is catalyzing various industries and processes, to enable a better functioning world for humanity. 

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