Top 08 Blockchain Startups Companies in Europe 2020
Blockchain Startups in Europe: We are already eight months into 2020 and the blockchain and crypto space is continuing the upside trajectory from 2019 with interesting new technological innovations and partnerships.
And the prices of the most popular cryptocurrencies are soaring, recovering from the 2018 plunge. Ethereum (Cryptocurrency platform) is up to 102.89 percent year-to-date, while Bitcoin is 34% and Ripple 46%.
These are all positive numbers in the blockchain ecosystem but something else is creating a positive trend too, which is the number of established companies and institutions heavily investing in the enterprise blockchain companies. This comes as a surprise to most because of the concept that the blockchain space is too new or that it’s not solving real issues but the validation that blockchain has received from Google, Samsung. Wells Fargo and Salesforce speaks loudly about blockchain.
Blockchain and its use
Before the list of top 08 European blockchain startups, know what is blockchain and how it uses? One of the United Nation’s Sustainable Development Goals is to provide legal identity to all of the world’s population by 2030. About 75% of the world population is currently without a bank account because of their inability to prove their identity via a valid passport, birth certificate, utility bill, or any other means to complete the KYC (Know Your Client) procedures.
A blockchain approach might be a starter for an unchangeable record of individual legal identity. This would neutralize dependency on a central issuing authority or any government intervention due to the decentralized nature of the ledger ( Which maintains all blockchain records and data exchanges).
Basically speaking, a blockchain can be defined as a growing and an interconnected sequence or a chain of records called blocks. Each of these blocks contains a cryptographic hash or “identity” of the previous block, transaction data, and the transaction’s timestamp.
A blockchain is usually managed by the P2P network and the majority of the nodes in that network must be in consensus to approve any change in a certain block.
These nodes are computers and each has a copy of the blockchain. A transaction is written into the ledger only if it is approved by a greater number of nodes after inspection of the hash.
With many uses in financial inclusion, smart contracts, and the tracking of goods and transactions, a blockchain is a powerful tool for fighting fraud, as the records are impossible to be altered retroactively.
Below are some promising blockchain startups that are supporting and stretching the use of blockchain through their main services and products.
Top 08 European Blockchain Startups Companies in 2020
Settlemint was founded in 2016 in Leuven, Belgium, by Mattew Van Niekerk and Roderik van der Veer. With over €5 million in funding, SettleMint is democratizing blockchain as a part of a future business environment.
The company provides the infrastructure to simplify the blockchain application design, build, and integration through a reliable and scalable proprietary low-code solution of BPaS or Blockchain as a Service. So that companies can go from scratch to blockchain application cases with more speed and less complexity.
Coinfirm is a London-based company, founded in 2015. It aims to acts as a foundation for the safe adoption of blockchain technology by all actors in the economy, including traditional financial institutions, government regulators, and ordinary citizens.
Coinfirm is anti-money laundering for virtual currencies and blockchain actors allow financial institutions and regulators to safely engage with the crypto world. It has created its own token, the AMLT, and offers incentives for users to report ransomware and any other scams. So far the team has raised around €5 million and the last round was earlier this year.
Odem is a Swiss start-up founded in 2017 in Zug. It is bringing blockchain to education and aims to refresh the outdated infrastructure on which education, training, and employment were built, making them affordable, accessible, verifiable, and transferable.
In 2018 Odem landed around €2 million investment, which was used to expand its learning platform. Which lets students safely store, own, and control their academic records on the blockchain forever.
Limechain was founded in 2017 and is located in Sofia, Bulgaria. Limechain was founded by Nick Todorov, Vladislav Ivanov, George Spasov, and Chris Veselinov.
The startup specializes in building blockchain solutions for startups and corporate businesses, with a portfolio of services that includes blockchain development, smart contracts, ICO, and crowd sale.
LimePay is one of their main solutions, it’s a Saas platform that enables end-users to execute transactions for decentralized applications (dApps) with fiat money, without the need for any registration or creating a crypto wallet. The client needs only a credit card for enabling crypto-payments to merchants that only accept crypto. The start-up has major clients like Procter & Gamble, Raiffeisenbank, and Vaultitude showing positive signs.
elrond was incorporated in Malta (2017) and now building its operations out of Romania, elrond is completely rethinking the blockchain infrastructure, the elrond team promises to give anyone, anywhere easy access to the digital economy. By bringing a 1000x improvement to the blockchain speed, scale, and its costs and is currently the 2nd best-funded start-up in Romania.
DappRadar is a Lithuania based blockchain start-up founded in 2018. In 2019 DappRadar landed €2 million seed funding. In case you are not familiar with Dapps (decentralized applications), these are applications that run on peer-to-peer computer networks with open source code and deployed via blockchain, to filter out ant fake and irrelevant activities and also provide actionable market intelligence.
Colendi is a Swiss fintech startup that innovates in providing a global financial passport to its clients. It was founded in 2016 by Bulent Tekmen, Eray Eren, Mihriban Ersin Tekmen, and Serkan Omerbeyoglu. The company strives to be a source for democratized credit scoring evaluation methods based on blockchain technology. With users receiving an ID that serves as a global financial passport.
Colendi’s goal is to create a tool for unbanked people and small businesses around the world to have greater access to micro-financing. Their bot credit scoring mechanism wants to be the trust link between lenders and borrowers. Colendi has raised €2.3 to date and has been featured as one of the top 10 Swiss Blockchain startups to watch in 2019.
Solve.care was founded by Pradeep Goel in Tallin (2017). It’s a global healthcare technology company that intends to bring more transparency and reduce bureaucracy in the world healthcare system.
It proposes a platform that is patient-centric to connect skate holders and coordinate medical care, benefits, and payments in a more organized way. It organizes payments among patients, doctors, pharmacies, laboratories, employers, insurers, and others.
Running natively on the Ethereum blockchain and follows the ERC20 token standard. So far, it has built a global community with healthcare specialists, contractors, and advisors and has raised €26.7 million so far.