Connectivity and the coming Tokenized Economy
We live in a hyper-connected world, but there are two major problems stifling connectivity:
Fragmentation
Kinks in data flow
Centralized systems are struggling to meet the logistical demands of our increasingly hyper-connected and decentralized world. Data analysis makes inefficiencies in systems identifiable, quantifiable and categorizable. Systems that are not optimized will not remain undisturbed in an age of technology-driven disruption; the market will reward companies that disrupt these systems.
We are therefore moving increasingly towards a world of market category optimization, and cryptocurrencies (along with data) will be the oil in these new engines of hyper-efficient capitalism. First and second generation cryptocurrencies like Bitcoin and Ethereum are only the beginning; utility tokens will become more capable, and early adopter companies will build decentralized ecosystems around their brands using their own native blockchains.
Some of these ecosystems will be successful in establishing themselves as the standard for exchange of value in the daily lives of ordinary people within that category. This is a natural evolution; there will be connector companies and connected companies, each benefiting from the other while empowering consumers and eliminating inefficient middlemen.
Data analysis makes inefficiencies in systems identifiable, quantifiable and categorizable. As decentralization and optimization takes hold, established brands in many categories will have a unique and surprising disadvantage: the power of their brands.
Established name-brand companies can only appeal to their existing bases, since their bases are for the most part tribalized and “dug in”. This creates a limit of appeal to that specific segment of the category, thus preventing the kind of widespread adoption necessary for a comprehensive cryptocurrency and ecosystem to become the neutral standard across the category. These established brands are better off focusing on becoming connected companies, plugged in to a neutral third party ecosystem that optimizes how they interact with both their tribalized bases and new potential customers.
At TeamMate, we believe in this efficient future. The TeamMate Blockchain Foundation is engineering a comprehensive ecosystem for the fitness and wellness space. Fitness, wellness, and medical brands will connect directly with consumers, and free data flow monetized by users will provide for a frictionless, de-conflicted and neutral digital space.
Tokenized economies are efficient economies. They are coming, and they will solve the major issues that are holding us back from the utopia of true connectivity.
Outstanding article, Cap. Hacking will be my only issue of technical concern, and I would be surprised if one type of crypto doesn't eventually become a de facto world currency. If it also should become de jure, however, I'm out.
Looking forward to learning more about your specific business plan for the health & fitness sector.
Thanks! I think that because the blockchain is so decentralized, it will continue to evolve at a rate fast enough for it to defeat hackers in the long run. There are already 3rd gen quantum resistant chains in development. Obviously there will be hacks, but the rate of innovation in my mind means that chains will evolve just as fast if not faster than the hacks meant to disrupt them.
I'm skeptical about one type of crypto becoming a single global currency. I think instead we will see native chains that are specialized for specific sectors. I imagine that the average person will interact with about 10 types of currency on a regular basis within 20 years. I also think that the UI will be 1000x cleaner by then, so that people aren't really bothered (or even aware) that they are using so many different types of currency. We will see! Exciting times, for sure.
If you'd like to see more about how TeamMate is working to optimize the health and fitness space, feel free to give our whitepaper a read: https://teammate.ai/TeamMate_Whitepaper.pdf
Thanks, Cap. I'll have a look. Away for about the next 30 hours though...
Hey did you have any connectivity issues on the site this morning? I'm curious because I got hammered with them right after a couple dolphins were upset at me for using https://steemwhales.com/clean-trending/ to downvote their trash in "trending." You might want to read the comments under the poem I posted this morning (nothing about the poem...lol...) Quite the interesting tete a tete.
@mepatriot yes I did have some connectivity issues! Cleared up pretty quickly though. I read your piece and I dig it - question I have though is this: what does "winning" mean to you?
Hmmm...well, good to know (in a sense anyway) that these two weren't able to directly mess with my bandwidith or something. Winning?...having a platform that is totally egalitarian and free for all to succeed based on the value of their content, not on what a paid bot "thinks."