Cryptocurrency is on the rise in terms of popularity, and has been for a while. What does this mean in terms of the future of business, however – and other industries? We’ve seen many technological leaps and jumps in the past decade alone since blockchain was created, and it continues to improve all the time.
Before long, it may be the case that nearly everything is digitized. It feels like every year, a new app, program, or concept comes out that can change the landscape of an industry or aspect of society.
Blockchain – and cryptocurrency – are doing that now. Imagine life with a bunch of elements that are separated combined into one system, but decentralized.
Currency Will Make a New, Permanent Change to Money
Imagine if no one used normal money anymore, and everyone switched to using cryptocurrency. Wouldn’t that be crazy? But it isn’t that ridiculous, actually – as humans, we’ve already made a few key currency changes throughout history.
We stopped bartering because it was hard to determine the worth of complex things. We switched over from precious metals because they were heavy and we had paper money. Now paper money has been taken over by credit: rarely does it dominate transactions, and it’s mostly in small value transactions where it has any traction.
So credit is dominant right now, right? Right.
Crypto is making a noticeable rise, however. Before long, in the future, the situation may be as simple as everyone using a banking app to pay for everything. Physical transactions would be a thing of the past.
We even have websites that show us the price of crypto – like this dogecoin price listing here. Imagine just ten or fifteen years ago, millions of websites, apps, and communities were designed around currencies that people created practically overnight. People wouldn’t have taken you seriously.
With 50 million people willing to try buying crypto who have never owned it before, though, that rise seems like it’s here.
The Internet Will Transition to Something New
These changes will affect every industry. Technologies do this all the time. Crypto changed investing and finance just like the Internet of Things has changed how we can connect devices to the internet and create networks.
Even the internet can be transitioned into something new that’s unrecognizable from before. Even if all of the current ISPs in the world went down, new projects are coming up to allow a sort of decentralized internet between users with a peer-to-peer system. The project is called Skycoin.
This allows crypto to not be stopped even if governments or large, powerful organizations like ISPs wanted to interfere. As blockchain – and other technologies – progress, it’s creating the opportunity to protect the individual and preserve their privacy and consent to engage in certain systems.
Data and Gaming Will Be Affected, Too
With no aspect of life left untouched by this kind of technological breakthrough, it makes sense that data and gaming would follow as well. A good example of this for data would be Shift, which is a decentralized peer-to-peer network technology specifically for data storage. This has several benefits, including limiting censorship and control of data storage via the cloud to companies who have no real oversight.
On the gaming side, big organizations and developers are hard at work. They’re seeking to develop their own platforms and systems to offer players and customers new experiences: and they’re using blockchain to do it. The ability to transfer items in between games, never have to worry about the game being shut off or destroyed by the developers – these are big benefits to a lot of people.
That brings us to our final point.
No Industry Will Be Left Untouched
App development, too, will be affected. Blockchain can be used there, too – creating thousands of use-cases for an application instead of just one.
Further than that, though, no industry will truly be left untouched. As blockchain continues to grow and becomes more universal, nearly every industry will be affected by it. Everything will end up being one open-source, trusted, anonymous, decentralized network.
These kinds of unlimited opportunities will have us end up all the better for it – and business itself will be changed forever by blockchain. It’s already happening.
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