And it is going to change the way we do things. Think of it as Internet 2.0.
But while you hold that though, also think that it is not too far fetched to say that we could be seeing a Dot Com 2.0 as well, where things are getting hyper inflated based on nothing but sentiment.
With such price rises, we can expect to see falls. It is inevitable, nothing ever goes up forever. So lets talk about how this crazy Dot Com 2.0 rally might (or will end):
What I foresee (and this is my personal opinion) is a bunch of junk altcoins gaining way more value than they can sustain, popping, falling and crashing, taking even the good ones with them, and eventually once the entire crypto market has bled enough, only the good, strong tokens/firms/coins that provide a serious solution to a problem or usable and profitable mechanics will reign supreme. The market will get all the regulations it needs by then, these crypto-companies will begin to be valued on their cryptocurrency (or token) rather than fiat, and these will be freely traded in the open crypto market.
Go back a couple decades… the exact same thing happened during the Dot Com. Heck, even Amazon took a 90%+ decline when that bubble popped. Look at Amazon today; history repeats itself.
But, to make the point of this article, the reasons why Blockchain is here to stay are all written on the wall, and even though everyone is busy with Bitcoin, Ripple, Litecoin and all the other altcoins, the other serious non-blockchain startup businesses are slowly (but surely) adapting to and adopting Blockchain technology.
Here’s a list of what some of the well-established Corporations are doing with Blockchain (and this is by no means an extensive list):
- 100+ year old Eastman Kodak Co. (KDCK) is trying to solve the long overdue Digital Rights Management issues with its new platform KODAKone (which will employ the upcoming cryptocurrency KODAK Coin).
- Comcast Venture Capital firm (Comcast Ventures) is committing heavy cash to a blockchain-focused fund to, well, fund ICOs. They are even thinking on whether it will hold tokens or cryptocurrencies itself.
- Russian chat giant Telegram is planning the biggest ICO to date (USD$1.2 billion) to facilitate micro-payments between its 180+ million users (an idea they copy/pasted from chat rival Kik).
- MoneyGram (the second largest money transfer in the world) wants to speed up transfer times and lower transfer rates by adopting Ripple’s XRP technologies.
- China’s Google (Baidu) wants to offer Blockchain-as-a-Service (BaaS) which aims to provide asset-backed securities exchange products using blockchain technology in China.
- IBM Blockchain (IBM) portal is teeming with information on everything they’re working on, from trusted identity to fully transparent food and shipping systems.
- Microsoft (MSFT) is working to integrate Blockchain within its Azure Platform as a mean to provide blockchain readiness to customers, partners, and the blockchain community as a whole.
There is an even bigger list of DOW industrial companies who have either already adopted and started to work on Blockchain-based projects or that are most certainly working diligently behind closed doors and have yet to announce anything significant.
So the next time you hear one of these “market analysts” with their immutable track record of being dead wrong (the one and only Rich Ross anyone?) about everything technology-related (pun intended) please point them to this article.
Here’s to a Decentralized Future!