Technological innovations are important to businesses and individual customers as they aim to solve various challenges in the financial sector. One such innovation is the blockchain technology which is transforming the way people transact or make payments. Compared to conventional payment systems, blockchain is quick, secure, transparent and significantly less costly since no intermediaries are required in a transaction.
Besides revolutionizing payment systems, blockchain technology provides opportunities for generating passive income through the purchase of tokens during Initial Coin Offerings (ICOs) for some projects. This happens through sharing of profits generated from investments, appreciation in the token value and transactions fees. Here are 4 ICOs that are set to transform the way people transact and earn passive income in the future
This ICO project offers an opportunity for token holders to earn passive income. BlockVest aims to manage digital assets and exchange using blockchain technology. The project will use smart contracts to self-manage and safeguard the assets. In addition, BlockVest will also be a cryptocurrency index fund that enables average investors to buy multiple cryptocurrencies with little to no research.
The key feature of the project is its aim to solve the volatility problem in cryptocurrencies while ensuring accountability through its distributed ledger. Token holders will thus be able to benefit from the project as smart contracts make it possible for investors to share profits from income streams that will be established.
Baanx is another ICO project that aims to revolutionize the conventional financial system by operating as the “Amazon” of blockchain financial services. Backed by a team that has over 100 years of fintech and banking experience, Baanx will be the first crypto bank and crypto financial services in the world.
Consumer lending, highly secured wallets, and crypto-payment applications that use fiat and cryptocurrencies will be some of the products that Baanx looks to use to transform the financial sector. BAANX BXX utility tokens will be the key component of the system and thus investors will benefit through value appreciation and bonuses payable in the net transaction profit.
Vanig ICO project aims to use blockchain technology to integrate e-commerce and supply chain ecosystems. The startup will ensure transparency, reduce intermediaries, have a more efficient supply chain and reduce counterfeits on its online platforms. The system will thus enable customers to get timely, quality and affordable goods and services.
Vanig tokens will enable real-time money transfers and transactions, an aspect that is not possible in the current e-commerce systems. The system will make it possible for customers and sellers to accrue tokens while transacting.
Fanfare ICO project taps into the rising consumer influencer videos in social media by creating an ecosystem for brands, consumer influencer videos and customers with the videos serving as points of sale for the brands. This will transform the transaction system as more points of sale get set up and awareness increases.
Video content creators will be rewarded with FAN tokens when brands make their videos shoppable. At the same time, audiences will earn tokens for watching and voting in video campaigns. These tokens can be used when shopping for products in the Fanfare eStore.
These four companies show that blockchain technology is already shaping the new frontier in the financial sector. By creating ecosystems that address real problems on the blockchain network, token holders will be able to passively earn income as transactions are made.