The Stratis digital coin (STRAT) is the power secures the Stratis blockchain. It is used to pay fees per transaction and as an instrument for transfer of value among participants in the Stratis marketplace. $STRAT is a digital cryptographic token that is freely traded on open exchanges as one of the top cryptocurrencies by marketcap.
Stratis allows for complete sidechains that are non-disruptive to the primary blockchain. Bitcoin does not allow for any sidechains. Although there have been attempts at implementation, the results have been messy and the code is a tacky add-on bandaid solution.
How Stratis will be used in real world
Some of the benefits of the Stratis blockchain which will impact the real world are as follows:-
Medical Research: Stratis blockchain will enable medical science to solve its publication and research disputes by providing an immutable database of record. Here the reviewer, researcher, and publisher can work with worrying about the legitimacy of the record.
Internet of Things: Industry verticles like supply chain, transportation, inventory, and occupation can be impacted by Stratis, bringing everything on the blockchain which is updated by internet consensus in real time. For example, a smart lock enabled by Stratis platform will let you access a fully automated AirBnB residence without any dispute or human interaction.
Provenance: It means product verification and tracking. As manufacturing has matured, it has also led to counterfeiting and forgery of original products. But once such products are put on the Stratis blockchain for tracking and identification this problem will solve. For example, see Diamond verification on Everledger.
Fintech: In the Fintech space the sky is the limit for Stratis. In this area, Stratis intends to solve problems like trusting Escrows, Identity Theft, Identity Management, clearance and settlement management or KYC compliances with losing the confidence of the customer by leveraging blockchain technology.
Stratis Identity: Stratis Identity app can be used for efficient blockchain based identity management and reduce a lot of redundant work from the ground up. It can be used by companies for background verification or by services that require KYC compliances and every time in this usecase the user will be in charge of their data. See here their official usecase description.
Smart contracts on Stratis eliminate this risk. Smart contracts on Stratis live on their own true sidechain. Companies can rest assured that their token cannot be compromised by a failed token.
Twitter | Website | Stratis Enterprise | Whitepaper