As you know “cryptos” are becoming more and more popular with plenty of head articles published in respected news agencies such as Bloomberg, New York Times, Forbs etc. However, they are just a fragment of a greater movement that is reshaping the digital economy.
The real breakthrough is what is called the Blockchain. The following article will emphasize the impact of the blockchain, a revolutionized technology which is just now beginning to realize its full potential. Over the next few years, the blockchain will fundamentally change everything. From how you book a ticket on airplanes…; How you buy a house…; How you vote… Stock markets; banking; “Internet of Things”; health care; and hundreds of other industries.
The innovations that changed the world
We have lived through the two most significant digital disruptions:
Firstly, it was a technology for the “geeks” and the very rich. It began to change the world in the ~1980s and by the mid-90s it was available in hundreds of millions of households worldwide. This invention is known as the personal computer. Today, we have smartphones, tablets, laptops, PCs and there is barely a person today that does not have some sort of a computing-based device.
The second disruption happened at a bit later stage and is called the Internet. This was the logical continuation of the first technological disruption and connected all of these devices.
In our opinion, over the past few years, the third digital disruption has been getting underway.
For example, before the internet, if you wanted the news you had to watch five different news channels or alternatively you get your morning paper (either delivered to you or you buy it from a newsstand). If you wanted to learn more about a topic (or do some research) you go to the library. If you wanted to find a telephone number? Check the paper edition of the address book. Music? You can listen to the radio or cassette recorders, CD players, etc.
Today, we still have CDs but you can get your music from YouTube, Spotify, Apple music and a variety of streaming services. If you want to do some research, all you need is your laptop, internet connection and Google. If you want to learn the news, instead of watching three TV channels, you can access the news from thousands of online websites.
Blockchain true power
In summary, when the internet appeared it “decentralized” information, while The blockchain is decentralizing everything else. Travel. Real Estate. Accounting. How you vote. Name it.
Here are some great examples:
Finance – Populous is decentralizing the lending market by allowing secure, peer-to-peer lending without the need for a centralized financial institution (e.g. bank)
Energy – Power Ledger is decentralizing the energy sector. Instead of having to buy your energy from a centralized supplier like E.ON, you can get it straight from the grid or from your neighbor. And if you are generating energy yourself, you can trade the excess with a peer on the network..
Adapt or die
Most importantly, most of these are just in the incubation stage. Of course, giants like Amazon, BP, etc. are not going out of business any time soon. Yet, if there is one thing that can be detected as a common trend is that blockchain technology has a disruptive nature and it cannot be ignored.
Moreover, this is why these central authorities (like Amazon, Starbucks, Visa, IBM, Facebook, Oracle, Walmart, BNY Mellon, Cisco, Foxconn, Kroger, Nestle, and dozens of other big corporations) are incorporating blockchain technology into their businesses. This is why we have the Ethereum Enterprise Alliance with over 200 corporate members working together.
It is as in nature.. it is not the strongest that survive but the most adaptive. Adapt or die.
IBM has been around for more than 100 years. They never needed blockchain before… And they realize it is essential now. Currently, IBM rents out ~ 60 data centers across the world. Many users are now blockchain-related. The market for blockchain-related services alone will reach $7.7 billion in 4 years – 3100% surge from 2016 (figures from a study). The big giant will only benefit from adopting the blockchain technology. They will cut out the data centers moving everything on a trusted blockchain while entering a fast-growing industry with big future ahead.
For a giant like IBM moving money around must be a horrendous task with excessive taxes and fees from centralized institutions. This is why recently they released the World Wire payment system. Which is explained by Big Blue as:
The new financial rail can simultaneously clear and settle cross-border payments in near real-time…
All in all, the blockchain is revolutionizing and disrupting the whole world and it is here to stay. Business will eventually have to adapt or die, so go crypto and chill.
Regards and special thanks to our fan RippleOrNipple.