Helping Organizations to Leverage the Benefits of Blockchain Technology – The SettleMint Solution

August 8, 2017     By : LTP Team

SettleMint is a Belgian startup and was incorporated in August 2016 by Matthew Van Niekerk and Roderik van der Veer. They met in 2013 while devising and developing blockchain applications for KBC, a large Belgian financial institution. They very quickly realized that the promise of blockchain technology far exceeded the boundaries of the financial world and would permeate industry and society entirely in the years to come.

Helping Organizations to Leverage the Benefits of Blockchain Technology – The SettleMint Solution

In the image: Matthew Van Niekerk and Roderik van der Veer

But it was and it’s still very apparent that in the industry, there is also a huge gap between the knowledge and capabilities of companies and organizations that want to innovate with blockchain and blockchain technology itself. So, Roderik and Matthew decided to create and develop the core technology Mint, a ‘distributed middleware,’ to bridge the gap to support organizations in benefiting from the technology.

Helping Organizations to Leverage the Benefits of Blockchain Technology – The SettleMint Solution

‘Mint’ encapsulates considerable R&D on the technical, operational and organizational aspects of blockchain technology and packages this in easy-to-use software development kits, or SDKs, that take away the complexity of blockchain technology. These modular SDKs contain the smart contract templates, API layers, micro services and browser components required to build full-stack applications.

Based on SettleMint’s development of eight fully functioning blockchain applications and after having examined more than 500 other known use cases, SettleMint estimates that ‘Mint’ covers approximately 80% of the kinds of interactions with blockchain technologies, that are required to power blockchain-based applications.

So in short, it doesn’t matter if you are a startup or a big corporation; if you think blockchain technology can be part of your business or your vision for the future, you, or the developers working in your organization, can start building blockchain-based applications in no time using Mint.

2017 brought DataBroker DAO –, a game changing application

In July 2017, SettleMint launched DataBroker DAO, a game changing application that was built by SettleMint using their own core technology “Mint.” Why the need for DataBroker?

Helping Organizations to Leverage the Benefits of Blockchain Technology – The SettleMint Solution

Individuals, companies, researchers, and governments are spending hundreds of billions each year on buying and maintaining IoT sensors. The growth of the investment and applications in IoT is truly staggering, and yet, all data captured by these devices is locked up in silos and walled gardens.

The global market for IoT sensors has surpassed 600 billion USD per year including the purchase, installation, and maintenance of sensors and the purchase of software packages to interpret and enrich the data – with no clear path to monetization.

Whether for primary usage or for enrichment and direct resale, the data remains grossly underutilized and the utility for society locked away in deep organizational silos. Stifling innovation and holding back society as a whole.

This is where DataBroker, as a distributed marketplace (or an ‘eBay’) for Internet of Things sensor data, comes in. DataBroker will enable the monetization of gathered IoT data, turning costs into perpetual revenue streams.

A wide range of parties will benefit greatly:

  • Sensor owners are able to monetize their data and turn a sunk cost into a potential money maker and at least the opportunity to recoup some of their investments in IoT sensors.
  • Network operators gain scale and speed in the adoption of their network as connected telcos can present a win-back to their enterprise accounts, a clear USP.
  • Sensor manufacturers can stop the “race to the bottom” for production and pull resources and capital out of manufacturing and allocate these to profitable SaaS offerings.
  • Smart City Initiatives can limit the upfront cost of populating the town with sufficient sensors and turn the expense into an investment with a 2-3 year payback period and a continuous income stream after that.
  • In Belgium’s agricultural sector today, 10% of farmers are “techies.” They deploy sensors for wind, temperature, barometric pressure, humidity, and PH level in the soil. The platform will provide the possibility to recoup some of this cost.
  • Academics get access to thousands of sensors and can buy data directly on the marketplace at a cheaper price, cutting out established data providers.
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LTP Team

LTP Team

A group of content writers, bloggers, journalists and editors from the Let's Talk Payments team.

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LTP Team