One way startups are trying to stay afloat in the crypto winter is by focusing on building bridges for mass adoption. By offering experiences that are so seamless, users don’t realize blockchain is involved. Some examples of these experiences include digital assets management, secure voting and governance systems, and automated trading solutions. All of which can help make blockchain technology more ubiquitous and accessible for everyone.
The utilization of blockchain technology by Redeem has paved the way for a new era of trust and transparency in industries where traditional methods have not been as reliable. By allowing users to claim tokens which represent special privileges or experiences, Redeem is putting power back into the hands of those who deserve it most – its customers.
Rush has likened EyeVerify’s success to the way Apple built its brand by marrying innovative hardware with clever software. “What we did was really kind of open up a whole new market for facial verification,” Rush said. “There wasn’t anything quite like it.” By developing its own scan-to-pay technology and partnering with Chinese banks, Ant became one of the world’s leading providers of facial recognition services.
Following the acqui-hire by Ant’s corporate venture team, Rush began to look more closely at how blockchain technology could be applied in practical ways. Of particular interest was how it could be used in the food industry, as this was a sector where there were many potential benefits to be realized. Ultimately, Rush was able to identify a number of potential applications for blockchain in the food industry, some of which include tracking and tracing food products; ensuring quality control; and preventing fraud.
Rush believes that blockchain can help businesses succeed by improving the efficiency and security of their operations. By providing a secure, tamper-proof ledger of transactions, it can help reduce the risk of fraud and data theft. As more businesses adopt blockchain technologies, it could revolutionize the way we do business, making our economy stronger overall.
As interest in blockchain technology has continued to grow, so too has the potential for businesses to adopt it. One such business case is the use of blockchain networks to store and trade NFTs. Cory noted that, despite its theoretical applicability, understanding how a blockchain works can be daunting for some. He explained that this is where practical applications come into play, as they provide a practicable way of learning about how the technology works and investing in it.
After discussing the technology with Rush, they quickly realized that NFTs could be used to power a new type of ticketing market. They called their new venture Redeem and began building the platform last year. By using NFTs as its currency, Redeem hopes to create a more open and transparent ticketing system than what is currently available.
The internet is a platform where anyone can create anything they want and share it with the world. This openness has led to an explosion in innovation, creativity, and collaboration. When people are able to own a little bit of data outside of the control of the big companies, they can interact and collaborate with others in an open ecosystem. This allows for new ideas to be created and shared, which results in more innovation and progress.
He thought that the challenge of utilizing NFTs, as well as why it may be difficult to do so, was that there is no single, easy-to-use global directory system for them. While Phone numbers are ubiquitous and convenient, he thought that they could be adapted to store and manage NFTs effectively.
Mobile wallets such as bitcoin are propelled by the ubiquity of smartphones. As phones become more widespread, their utility as pockets for holding valuable items expands. Bitcoin is no exception to this trend, and the cryptocurrency thrives because it taps into a larger market demand for convenient ways to store value.
Redeem is a simple, yet important tool that helps users get their first steps into the world of cryptocurrency. By opening wallets and distributing NFTs as swag, it’s easy for users to get started on the journey to becoming a crypto enthusiast. With Redeem, it’s easy for Attendees to take control of their own financial future by getting involved early on in the crypto ecosystem.
With Redeem, users complete the simple steps of scanning a QR code or sending a text message to their designated phone number. This authentication process securely creates a unique wallet and assigns it to the user’s account. Users no longer need to remember long 16-word recovery phrases, or go through the time-consuming process of signing up for new wallets and transferring old coins over.
When you create a message, the sender is automatically pre-populating the recipients with their phone numbers. This ensures that your message will reach its intended recipients no matter who is using the app at that moment. After hitting send, your phone number becomes the owner of this NFT and can be used to respond to messages as needed.
To ensure that only authorized attendees gain access to the event, Redeem’s system checks whether each attendee has an NFT ticket associated with their verified phone number. By using this blockchain-based authentication method, Arkive ensured that everyone who was expected at their VIP dinner had the correct credentials, ensuring a smooth evening for all.
Redeem is designed as a connectivity layer, linking users’ Metamask or Phantom wallets with the company’s own platform. This allows users to instantly and easily trade and spend their cryptocurrencies with merchants who have signed up to use Redeem. The company plans to leverage its existing network of partners in the B2B2C sector in order to bring this solution to a wider variety of users.
NFTs can provide a more democratic ticketing system that allows event organizers to better connect with their audiences. Rather than relying on a centralized entity like Ticketmaster, event organizers can create and release NFTs that represent tickets to their events. These NFTs can then be traded between participants in the event ecosystem, providing greater accessibility and control for all involved.
Rush’s recent announcement that they will be working with Redeem to help promote their events has generated a lot of interest. As organizers of live events, brands that do a lot of sponsorship and marketing and live events are likely to be interested in how Rush can help streamline these processes.
NFTs give event organizers the ability to create an active after-party that can continue long after the main activations have ended. This allows guests to continue engaging with the event and promotes a sense of community amongst attendees. By distributing NFTs as part of post-event engagement, organizers can keep participants interested even when they are not on-site.
