10 Enterprise DeFi Projects Aimed at SMEs
The blockchain industry began in 2009 with one crypto coin — Bitcoin. Now, there are close to 20K crypto tokens in the market.
However, which ones are relevant to Small and Medium Enterprises (SMEs) and do they have any utility for businesses?
No doubt, it can be overwhelming to research tokens and understand their use cases.
So, in this article, we have created a list of enterprise-focused DeFi tokens in the marketplace to show you the kinds of technologies that are being developed for the SME space.*
Filecoin’s token represents the economic model of the InterPlanetary File System (IPFS), a novel file-sharing network that allows users and businesses the capacity to store files remotely but on a decentralized network.
Not only that, the IPFS network is fully capable of hosting web sites. This means that developers can create fully functioning web pages and store them in a network that is not controlled by a centralized party. In that way, websites can become as censorship-resistant as any crypto product.
Filecoin is the rewards and economics mechanism of the network. It’s the token used to incentivize the nodes and reward them for delegating disk space into the network. It’s the token used to pay for services of the IPFS grid.
2. Sia Tech
Sia Tech is another decentralized storage solution. It allows businesses to use a distributed network of nodes to be their database. The data is copied across several individual machines to create redundancy and prevent the loss of information.
Furthermore, businesses can delegate some of their idle storage and get rewarded in Siacoin. This offsets data storage costs and can even be profitable over the long term. The Sia Foundation has created its own blockchain that allows it to process the payments to the nodes and pay for the storage with minimal fees.
Launched in 2018, Harbor is a platform for crypto securities in the form of tokens. The developers aim to create a decentralized compliance protocol that standardizes how securities are issued and traded on blockchains.
In the future, businesses will find it more useful and easier to issue securities on top of blockchain technology. Harbor will allow them to do so and has the compliance mechanisms in place for these new securities.
Harbor’s token is called R-Token. It acts as a security check that ensures only those whitelisted are able to trade the securities sold over the Harbor platform. Those users have to go through compliance before entering the marketplace as well.
Arweave is a decentralized storage solution that has its own blockchain. The AR coin is hosted directly in their network and it’s integral to the protocol.
Information stored on the network is never forgotten, cannot be tampered with and remains on the permanent record. This could be highly beneficial for businesses and organizations looking for more robust data storage solutions.
The use-case for this coin is to pay for storage when hosting data or to try to develop websites on top of the Arweave network. The AR coin has a circular economy as users pay for it to host data while the buyers sell it to secure profit. As long as there is demand for decentralized data storage, there will be a market for the AR coin.
Of course, we can’t forget our own token, UDO. Unido is a technology ecosystem that addresses enterprises’ governance, security and accessibility challenges around investing and transacting in cryptocurrencies. The Unido ecosystem offers a complete toolset for enterprises that want to manage crypto assets with peace of mind and ease.
The project has created a unique multi-sig key-signing technology using multiparty computation (MPC). This gives members in an organization control over a portfolio of crypto assets and permissions can be customized to enable staff to manage wallets without compromising the security of the wallet holdings. Through this technology, enterprises can securely manage a myriad of crypto holdings and DeFi investments from a single platform.
Augur is one of the leaders in prediction technology. Augur began as an oracle network, but now it has branched out to allow for any type of prediction markets.
The project is moving towards a focus on prediction marketplaces such as sports betting, world events, and crypto markets. They are looking to become major players in the decentralized betting industry and have made meaningful strides in that direction.
7. COTI Network
COTI Network is a payment solution that aims to increase crypto payment uptake. The network works as a set of tools for businesses looking to accept cryptocurrencies as a valid form of payment. It hosts its own set of validator nodes that can process these operations.
The network has adopted many blockchains for its payment solutions. Yet, it has an emphasis on Cardano as it aims to develop a native stable coin for that network.
For SMEs this means that POS crypto transactions in a variety of cryptocurrencies will be possible.
8. IX Swap
IX Swap is a decentralized exchange that is exclusive to security tokens. The platform only allows tokenized registered securities to be traded. This project’s aim is to close the gap between DEXs that serve utility tokens with those that serve security tokens. A secure and user-friendly platform is needed for security tokens, not only for buyers but also for those selling these regulated assets.
There has long been a focus on utility tokens trading, which now is very accessible across the blockchain industry. The security tokens market remains very niche and not as easily accessible. The IX Swap platform is looking to close this gap.
For SMEs this means better access to a stake in a blockchain company or valuable asset such as, for instance, tokenized property or a company.
The tZERO project is working on building a regulated exchange for trading security tokens and digital securities. They are taking their time in developing this platform as they wish to ensure they are fully legally compliant. The project aims to bring the same level of user experience and security to regulated security tokens as other exchanges have done for utility tokens.
Much like IX Swap, tZero is creating a platform exclusively for security tokens. As regulated financial instruments these tokens cannot be traded on a regular decentralized exchange. They will need a platform that follows regulations and is able to be audited by regulators.
Flight cancellations are unpleasant and stressful experiences for travelers and these experiences can be made worse if airlines don’t reimburse the ticket price. Ethersic, which has been in business for 3 years now, is a provider of decentralized insurance for international flights. On their platform, anyone can purchase a policy for a flight they are planning to take. If the flight is cancelled, Ethersic reimburses the amount depending on what insurance plan the traveler purchases.
Ethersic’s functions are done on-chain. Also, buying from the platform is quick and easy. It’s one of those services that has a clear use case and it delivers for crypto natives and regular people alike.
For SMEs that frequently travel for work, this platform could be a game-changer.
What enterprise DeFi tokens are you interested in?
What DeFi projects have you come across that have an enterprise focus? The market and technology have evolved to the point where the blockchain space has thousands of different applications. Each token focuses on a particular use case, and each is building the future of the economy.
Whichever projects you explore and align with, it’s important to have a Web3 capable wallet to interact with all of these services. If you want to explore an enterprise grade wallet that can secure your investments, check out Unido EP today.
About Unido EP
Unido EP takes the complexity and expense out of digital asset management for organizations with sophisticated corporate governance needs. Our patented, end-to-end platform seamlessly automates corporate governance and self-custody of crypto assets so you can securely store, manage and invest in crypto without massive overheads.
Unido EP comes with a web-based dashboard and a decentralized application (dApp) featuring a robust set of DeFi tools, easy-to-set-up authority regimes and iron-clad security. All of this is inside a complete digital asset management platform, built with financial institutions in mind but tailor-made for any organization or individual’s needs.
Financial Information Disclaimer
The information presented in this content is general in nature and has been prepared without taking into account your individual objectives, needs or financial situation. You should consider whether the information is appropriate for you before making an investment decision.