From use cases in energy, finance and insurance industry, blockchain now has a new use case; finding love. Yes, you read it right, blockchain is now a solution to finding your soulmate. If you have tried other technologies like tinder, then you know that not everything is real and the world can be very deceiving. Hardly anyone uses their real photos and it’s difficult to trust anyone.
Blockchain presents a very unlikely solution to fixing dating app issues in an effort to regain your trust. Today, you will find a growing wave of blockchain apps using distributed ledger technology and committed to transparency and safety.
A Lucrative Industry
The global dating app industry has an annual revenue of $2 billion with 220 million users around the globe. The industry is expected to continue to grow by 6 percent annually till 2025. Thus making it lucrative for innovation and investments.
Ponder for instance which has over 7000 users, is a blockchain based service that doesn’t just connect people for dates but allows others to play matchmaker and earn crypto. Anytime you make a match and they end up liking each other, you earn $10 and $1000 if they marry.
Viola.AI Blockchain Dating App
And then we have Viola.AI, a Singapore based AI that uses blockchain to build what it calls a global relationship registry which is open, transparent and accessible to all. It also created smart contracts and wallets for those who allow Viola.AI to verify their identity via facial recognition.
Meanwhile its artificial intelligent engine hunts for common interests and backgrounds to find matches that wouldn’t be possible with standard dating app algorithms. The app also offers a relationship expert offering their online advice but for a fee. You pay in violet tokens which you purchase from a company. Viola.AI had an initial coin offering in June 2018.
Datecoin is another app like Viola.AI. It had its ICO in May 2018. The app combines AI algorithms and neutral networks with blockchain and promises a transparent and secure dating experience. These apps are available on Google Play, Apples App Store and Chinese platforms as well.
Regular Dating Apps Following Through
The emergence of blockchain dating apps has been an eye-opener to the regular dating apps. Established dating apps are now appreciating the potential of blockchain. They have started turning on the technology. For instance Luxy, a secretive Hong Kong dating app for the opulent which has announced that it will accept bitcoin as a mode of payment. By using blockchain, the app verifies that its users are millionaires.
While blockchain dating apps are growing at a rapid rate, it’s still very early to pit them against mega platforms like tinder. It is estimated that tinder gets 1.6 billion swipes a day, which is more than china’s population.