Future of Blockchain
With application(s) and use case(s) as the main factors of the forecast
We will soon see crypto markets crystallizing, meaning that, with regard to the recent developments, a number of cryptos currently listed on exchanges will vanish one way or another. That process will start in the following 1-year period and will be ongoing for the next 5–10 years until the market is reduced to the fraction of what it is right now.
The survivors will be those cryptos that offer augmented services or one major solution to a global problem.
Those augmented services are nothing less than a “bundle” of interconnected solutions from different industries and niches accessible in a simple way through a single platform. In other words, either you’ll partner/merge and reside within the far larger ecosystem than originally proposed or you’ll cease to exist. And this doesn’t mean simply piggybacking your own single-use-case solution to an existing smart contract platform like Ethereum, NEO or a few others that are currently emerging.
The global solution to a global problem refers to providing a solution that benefits the masses, like a fully decentralized, ISP-free, high-speed, broadband internet accessible by anyone for free.
Everything below that scope of potential application and/or use case may survive and still exist in the long run but will have one of those funny, gameplay values that are used in-house exclusively.
It is the inevitable stage in the evolution of the newly proposed and not yet globally adopted solution such as the blockchain.
Granted, years have passed since the elusive entity proposed that, “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution…”
But the uptick in the global adoption occurred only most recently, allowing thousands of “solutions” to A) be built upon the original open-source code, and B) spread around, completely confusing already confused average Joe.
Simply put, the global blockchain system must reach equilibrium eventually. It will also mark the end of the extreme volatility that now acts as an added weight to cryptocurrencies in general.
The bottom line, the blockchain that manages to simplify Joe’s life will succeed. That is to say that Joe only has to download a simple mobile app (a wallet) and use it to purchase a host of services and products while being able to transfer money to his old momma in a snap with little to none incurring fees.
What about the giants, Bitcoin and Ethereum?
BTC and ETH become globally accepted virtual commodities
Like traditional monetary currencies were pegged to the value of commodities such as gold, silver, and platinum in the physical world, cryptocurrencies will be pegged to Bitcoin and Ether in the digital.
In other words, you’ll be paying with altcoins while keeping your BTCs and ETHs in cold wallets as assets just like you are paying with dollars, euros, and yens while (hopefully) keeping some gold stashed in a hidden bolt behind the famous painting of Madonna with Big Boobs.
The faith of the rest of the crowd is currently being shaped and it doesn’t look good for many of them
For instance, how many cryptos had been and will be positioned as the payment processors of the future, obviously targeting one of the most sensitive issues people have with money transfers today?
A lot.
How many different brands of popular aerated soft drink exist today worldwide?
A lot.
Only one, however, reigns supreme. The rest are fighting to survive with many disappearing from the scene daily.
The million-dollar question is which crypto will be the New Coke of the digital currencies?
The one or few that manage to create the same dopamine effect as Coke did!
It’s gonna be those that clearly demonstrate:
A) versatility of applications while ensuring the simplicity of the end-user usage, and
B) an effective solution to major problems humankind has.
Here, I’m gonna use a case-study to show what I mean. It is representing the global solution for a big problem.
In other words, this is an example or the benchmark of what I believe will be the kind of the blockchains that will rock the very foundations of the monetary-market system and as such, be the Cokes of the blockchain industry:
· Skycoin
Why?
Skycoin, due to the strategic decision of its core team is an “under-the-radar” crypto, that is considered by many as a gamble (some even implying that it’s a fraud) because the ambitious vision of the Skywire team is mostly perceived as a Sci-Fi rather than something achievable. Until the most recently, when they launched Testnet and nodes started plugging in if you ask me.
According to their whitepaper, which, by the way, is one of the most appealing documents of that type written to date, what they want to ultimately deliver is the truly decentralized, ISP-free, free-for-all, low-latency broadband internet where everyone may act in a capacity of a micro-ISP and receive fair compensation.
I personally opted-in to become one and I’m currently 8,995 on the waiting list to receive the Skyminer hardware — if I understood that correctly. That number alone is telling you how low-profile they are, given the fact that the project has been ongoing for years! Regardless, SKY is currently exchanging at $6.55 if that bears any significance to you.
— — Allow me a short side note — -
If there is one project that ALL OF US should unanimously support, then it’s Skywire.
Brilliant developers from the core Bitcoin and Ethereum teams are on the verge of one of the greatest and most significant breakthroughs in the recent history.
A free-for-all, decentralized internet where we, as the users, individual or corporate, are not forced to put up with the extortion coming from a monopolistic ISP company or suffer the consequences of the obsolete (40 years old!) protocols.
And, what’s even more important, our private information, that are now carefully monitored, recorded, and analyzed will no longer be a product sold to the highest bidder by that same ISP company.
— — end of the note —
Bottom line, we should soon see the massive marginalization of a number of cryptocurrencies and blockchains with just a few paving their way to the successful future. Because, in the end, the future of the blockchain, in general, depends solely on global adoption. Sounding too technical and complicated or forcing the end-user to carefully note which among 232 wallets pays for what will hardly achieve that goal.
