Cryptocurrencies and Globally Famous Brands: How Blockchain Can Help Businesses

Cryptocurrencies and Globally Famous Brands: How Blockchain Can Help Businesses

Blockchain is increasingly changing the way companies conduct their daily operations. The brilliant decentralized technology has a scope that goes beyond cryptocurrencies such as Bitcoin, Ethereum, and memecoins. Instead, companies can use distributed ledger technology to help make their operations more efficient, transparent, and decentralized.

World-renowned brands are now integrating blockchain technology into their daily operations. From carbon credit ecosystems to international payments to supply chain management, here are some of the ways blockchain is helping businesses.

IMPT – Reducing Carbon Footprints for Individuals and Businesses

IMPT It is one of the latest blockchain projects that has begun to help world-famous brands become more environmentally friendly. The IMPT ecosystem helps connect socially responsible brands with companies and individuals seeking to reduce their carbon footprint.

The entire system is designed to make it straightforward for people who want to safely offset their carbon footprint and have the opportunity to positively help the environment.

Environmentally conscious investors seem to be quickly aware of the impact IMPT has on their industry in general and are rushing into the pre-sale phase to invest in the project early on. As a result, IMPT has already managed to raise more than $5 million within two weeks of going public.

The pre-show is scheduled to take place in three separate phases. The first phase will offer 600 million IMPT at $0.018. The second phase will provide an additional 660 million tokens for $0.023, and the final phase will offer 540 million IMPT for $0.028. Each stage will occur in succession and will start when the previous stage is sold.

The ecosystem consists of the following:

  • carbon market
  • shopping platform
  • social platform

The Carbon Market allows users to quickly buy, sell and withdraw carbon credits. A carbon credit is a statement that represents one ton of carbon dioxide removed from the atmosphere. Usually, large multinational corporations have to buy carbon credits to offset pollution from industrial production. However, due to its fragmented and complex nature, companies and individuals are often reluctant to enter the carbon credit market. The industry is notorious for obscure pricing data and prevalent scams selling fake carbon credits.

IMPT seeks to remove the entry barrier to the carbon credit market. The team believes that a positive contribution to the environment should be within everyone’s reach, regardless of whether or not they are able to purchase carbon credits.

The great thing about IMPT carbon credits is that they are encoded in the form of NFTs on the blockchain, providing complete transparency and traceability. This means that buyers can be confident that their carbon credits are genuine. In addition, when the user wishes to retire from the carbon credit, the NFT is sent to the copy address, and removed from circulation. This removes carbon credit fraud concerns, such as double counting credits.

Another great feature of the IMPT ecosystem is the shopping platform, which allows shoppers to earn carbon credits through daily shopping. IMPT has partnered with thousands of world-renowned brands, all of whom are willing to dedicate a portion of their sales margin to environmental projects, such as IMPT. When the buyer purchases the platform, the sales margin is kept in his account in IMPT tokens until he has enough tokens to purchase the carbon credit. This feature allows everyday shoppers to reduce their carbon footprint by shopping.

According to the project’s Twitter, they have more than 25,000 brands affiliated with the retailer, an increase of 20% each month.

Some of the world famous brands that IMPT has signed include:

  • Puzzle Games
  • river island
  • Messi
  • Bloomingdales
  • Jim Stop
  • Bodego
  • Udemy
  • Microsoft

Finally, IMPT will launch a social platform to motivate individuals and organizations to become more environmentally friendly. The social platform will display the first global score that will enable everyone to measure their own carbon footprint. The higher the degree of their influence, the higher their rank. Ultimately, environmentally conscious brands will struggle to reach the top of the leaderboard to show their positive impact on the environment.

IMPT has created a much-needed ecosystem in the cryptocurrency space. The industry has long been plagued by contamination fears due to the massive amount of electricity required to secure Proof of Work blockchains like Bitcoin. With IMPT, all cryptocurrency projects now have a way to enter the carbon credit market and reduce their carbon footprint. Overall, this will propel the cryptocurrency industry into a more sustainable future and help world-renowned brands reduce their carbon footprint.

Visit IMPT Presale

Vechain – Supply Chain Management Tracking

VeChain is a blockchain platform that aims to improve supply chain management and enhance business operations. By combining blockchain technology with the Internet of Things, VeChain has created an ecosystem that allows manufacturers, businesses, and retailers to track products throughout the supply chain.

As a result, companies can use the VeChain ecosystem to ensure that the products they are getting are genuine. In addition, it helps reduce fraud in all industries as data is recorded on the blockchain, fully traceable and immutable.

The platform allows manufacturers and companies to assign a unique identifier (VID) to each product. VID can be performed using QR codes, RFID tags, or Near Field Communication (NFC) tags.

As products pass through each stage of the supply chain, the processes associated with production are recorded. This means that buyers can be confident that the product is authentic when it reaches the end user.

Several companies have already started implementing VeChain Thor technology in their daily operations.

PwC is one of VeChain’s main strategic partners. The $37.7 billion auditor has partnered with the project since 2017 providing its clients with improved product validation and traceability.

One particular industry that has been exploring partnerships with VeChain is the automotive industry. World-renowned brands such as BMW and Renault have partnered with a supply chain management solution. For example, VeChain participates in the BMW Startup Garage program, where it is testing a prototype of a BMW solution that securely stores vehicle data. In addition, Groupe Renault uses VeChain to create a digital car maintenance book that is completely tamper-proof. This helps buyers ensure that information about the vehicle, such as mileage and service history, is completely accurate as it cannot be tampered with.

VeChain has also made waves in the supermarket industry. Walmart China was one of the first companies to move into the space after partnering with VeChain in 2019. Together they launched the Walmart China Blockchain Traceability Platform, tracking 23 different products using the VeChain system from product source to Walmart stores.

Another fashion industry that applies blockchain in its operations is the fashion retail industry. One popular brand that has partnered with VeChain is LVMH, better known as Louis Vuitton. The two companies have partnered to explore the best ways to apply technology in their supply chain, starting with Givenchy bags to help customers check if they are authentic. Furthermore, H&M has also partnered with VeChain through its luxury sub-brand Cos. Together, the two projects use the VeChain MyStory app to collect and share supply chain data with customers. In addition, Arket, another H&M brand, uses VeChain to track sustainable wool.

As you can see, blockchain technology is already helping a long list of popular brands to help improve business operations by making the supply chain more efficient and transparent.

Ripple – Improving cross-border settlement between banks and major corporations

Although she is going through a major lawsuit with the Securities and Exchange Commission (It looks like he’s winning), Ripple has long been used by the banking industry to handle cross-border settlements between countries. The blockchain-based company was founded in September 2012 and has amassed partnerships with a series of banks and large corporations using its technology actively.

Ripple has created a Ripple Transaction Protocol (RTXP) called RippleNet, a cross-border Real Time Gross Settlement System (RTGS) that offers lower costs and shorter transaction times. This technology is more secure than traditional cross-border payment systems and provides real-time settlement. However, the solutions offered by Ripple go beyond cross-border transactions and include the likes of electronic invoicing, international supply chain payments, and real-time cash pooling.

As a result, there are a few major banks that have partnered with Ripple to be able to use its technology. One of these major banks is Bank of America, the second largest bank in the United States, which has a central role in ensuring that the company operates from a legal point of view. Information about the partnership has been relatively silent since the SEC lawsuit. However, experts point out that Bank of America will start using RippleNET to handle cross-border transactions once the case is settled.

Other banks that use RippleNET include

  • PNC . Bank
  • Siam Commercial Bank
  • Santander Bank
  • Standard Chartered Bank
  • Competence of the Subsidiary Body for Implementation
  • Krungsry
  • Canadian Imperial Bank of Commerce

PNC Bank started using Ripple in 2016 to improve the speed of transactions on the network to provide fast payments to its customers. Siam Commercial Bank, Thailand’s largest bank, uses RippleNet to assist with outward remittance services between twelve countries. Santander is focused on using Ripple’s technology in the One-FX service, which allows its customers to make cross-border payments between the US and the EU.

Overall, although it may be a pariah in the traditional cryptocurrency industry, Ripple is helping the traditional financial industry improve its operations through the use of blockchain technology.

conclusion

As you can see, many world-famous brands have started to implement blockchain technology in their daily operations. The use of blockchain technology helps these brands become more transparent and efficient compared to their previous traditional systems.

Some of these technologies have been explored for several years, while others are still relatively new. IMPT is one such new venture, but investors increasingly believe that the carbon credit market and its shopping platform will push the industry in a more sustainable direction, helping the cryptocurrency become greener in the long run.

Visit IMPT Presale


#Cryptocurrencies #Globally #Famous #Brands #Blockchain #Businesses

Leave a Comment

Your email address will not be published. Required fields are marked *