Blockchain technology, while still for the most part a mystery to the majority, has in the last year began to approach the centre stage for a lot of discussions surrounding finance, databases and many other forms of commercial record keeping, from major corporate partnerships to serious discussions in the US Senate. In this last year also we have seen countless start-ups forming in the space and launching their own ICOs promising to innovate and revolutionize their occupied niche, for an investor in cryptocurrencies, the landscape is becoming increasingly more and more overwhelming to navigate with every day more and more start ups filling up spam email filters with news and information on their new groundbreaking product and special ICO buy-it-now offers.
Many of these start ups aim to further popularize blockchain within their own specific area of industry, but it seems very apparent that there is no clear picture of what this will actually look like in the real world.
For the last half a decade there has been a general vision among blockchain enthusiasts that this “mass adoption” of the technology will predominantly involve a rise is the day to day use of Bitcoin or another Altcoin as a currency to buy and sell real life products, the standard for many being the ability to easily buy a cup of coffee in a local coffee shop and pay with a cryptocurrency but is this really what mass adoption is going to look like? I am beginning to have my doubts that this is going to be the case.
Blockchain's Killer App
So if it is the case that Bitcoin isn't the killer app for blockchain that will bring us mass adoption and puts a private key into the iPhones, Androids and laptops of the masses, then what is? Will it be another competing crypto-currency or will it take the form of an ICO platform or token or something else? My guess is that it will come from some ambitious ICO which aims to connect blockchain with another disruptive technology that is on the verge of explosive growth comparable to what we have seen from the IT sector over the last decade. Across multiple industries there are markets waiting for the right conditions to fully break out and to make their impact on the world. When the killer app comes, it's possible that it does not come alone, rather brings a new technology or service along with it to the forefront.
The iPod, considered by many to be the killer app for digitized media
CEEKVR Inc. are already a major competitor in the emerging Virtual Reality market with their VR Headset being sold across many major online retailers including Target, Bestbuy and Amazon as well as established partnerships with Apple, T Mobile and Universal Music Group and also provide a distribution service for virtual reality content such as concert streams and other immersive experiences delivered in full 3D virtual reality. The platform already offers Virtual Concerts for many popular artists from Katy Perry, Lady Gaga, U2, Sting, Snoop Dog, and Ringo Starr with many more available through CEEK's partnerships.
With their ongoing ICO CEEK aim to create a tokenized eco-system in which celebrities and content creators can offer special access and rewards to their followers in the corm of Celebrity Coin Cast “minting” of a wide possibility of virtual merchandise.
Celebrity Minted Tokens
Using the CEEK platform, celebrities will be able to further engage with their audiences and fans by creating signed and limited edition digital content. From lifetime passes to Virtual concerts, digitally autographed album downloads to full backstage, VIP experiences over Virtual Reality, there are countless products that can be offered by media creators and choices for their fans to support them. Virtual experiences and digital content are all secured by blockchain technology, cannot be replicated and can also be traded on an internal marketplace bringing decentralization to the the music and entertainment industry in new and exciting ways.
The potential for VR to deliver premium content and is also far from limited to the music industry, recently the Olympic speed skater and world record holder Ted-Jan Bloemen entered into a sponsorship with CEEK to become the first professional athlete to be be paid in cryptocurrency to compete in a major sporting event. Through this venture CEEK intends to offer a 360º virtual reality experience of the extreme sport through their platform opening up further possibilities for engagement with the sports entertainment industry to enter both blockchain and VR platforms synergistically alongside the music and media industry.
The coming Corporate decentralization
With access to huge amounts of capital, and wide reaching and propitiatory media platforms, it is no surprise to see large corporate interest looking into blockchain technology and it is entirely possible that these entertainment behemoths will lead the way towards mass adoption of blockchain technology. It may even be the case that most end users of the platforms may be totally unaware that they are using a token based or blockchain economy.