Feb 2, 2019 22:30 UTC
Feb 2, 2019 at 22:30 UTC
10 Things You Can Do on the Blockchain
We completely understand what the Web can do and what it cannot.
Though we take this understanding for granted, we can’t say the same thing about the blockchain.
There are certain things, that only blockchain can do and they are amazing. In this post, we are going to discuss about the 10 things only blockchain can do.
Let’s Begin with the Web
In its early years, the Web was not that well understood, in spite of the clear visions of its founders.
The best Web use cases of today had to undergo iterations, and trials to finally get to the right path.
In the beginning, many projects and companies took the wrong approach, brought the wrong products, had the wrong teams, or simply they were ahead of the market readiness.
Ultimately, we wandered into the eventual big themes which the Web has given us today.
If we look back at the Web’s evolution, we will see the strategic use cases including e-commerce, personal communications, publishing, e-business, and social networking as the winning big themes.
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Looking Forward To Blockchain
As we look forward with the blockchain, the large patterns are not discernible so easily. This is the reason that the blockchain’s clear areas of usage demarcation aren’t so well defined today.
Similar to that of Web’s own trajectory, the blockchain’s path will include either replacing the existing businesses or modifying them while ultimately creating new businesses that didn’t exist earlier.
But what is the strategic calling of blockchain? What is that it will be remembered for, after 10 years from now?
On the one side, Web replaced some bricks and mortar businesses, but only with potent value propositions that yielded alternate ways of doing things.
On the other side, the blockchain isn’t just a simple feature. It pits us against the old beliefs about trust – how it is earned, and what it enables.
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10 Things We Can Do With Blockchain, But Can’t With Web
Though the patterns are still at the gross level, yet there are a few directions about what we can do with the blockchain, which we can’t on the Web –
- Send money from one person to the other without traditional intermediaries
- Become a sole owner of digital collectable, digital good or a real asset’s crypto proxy
- Earn money as a block reward
- Be your own boss, and hold your own cryptocurrency
- Buy or sell something without any central coordinating authority
- Share unused computing or storage capacity and get paid
- Store content on a decentralized network that never gets censored
- Give contributions to recording something on the blockchain
- Pay for a good or service using a digital currency you earned
- Earn virtual currency for the data you shared
These are just a few of the possibilities that come with the blockchain technology. However, the biggest one is missing in the list and that’s advanced profiling as well as customized websites.
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