Why Cryptocurrencies Are Not Going Away
It is rather comical to read some comments around the web that are put up by people who genuinely have no clue about what is going on. I even saw today how cryptocurrency is "tulip-mania" (remember that one?).
Being a student of technological trends, it helps to provide clarity to what is going to be taking place. I amuse myself when I see people trying to apply logic that works in different areas to this realm. It is a completely different world. At the same time, we all know those who specialize in "noise pollution"; those are people who talk like they are knowledgeable about a topic yet did zero research.
Obviously, convincing someone like this about the merits of blockchain and cryptocurrency is a waste of time. Most are going to be closed-minded since the FUD is harsh, consistent, and scathing. That is okay. As I wrote yesterday, we are in a major "bull" market with this technology even if the Wall Street casino is not on board.
Here is a scenario which shows that cryptocurrency is not going anywhere.
An individual goes online and orders a pair of Adidas sneakers from Amazon. The order is processed by Amazon along with receiving a scan of the person's foot. Payment is made by billing whatever is on file (credit card, crypto wallet).
The system, armed with the location of the customer, goes to find a print shop closest to this person. Using the decision tree programmed into it, the system is able to rank the three different printers who meet the requirements. Upon selecting one, the order is sent to that print shop.
The print shop receives the order and its system is ready to print out the shoe. Of course, since this is a brand name product, the system has to download the file to print out from Adidas' site. It downloads the file, loads up the printer, and creates the shoes.
A robot picks up the completed shoes, boxed them up, and put them on a drone for delivery to the backseat of one's car.
I added the last part in jest (or maybe not).
This is how automation along with localized manufacturing is going to look. There is one piece I left out of the equation: payment.
After the individual pays Amazon, payment needs to be made both to the printing company and Adidas. Since this is all going to be on blockchain, payment needs to be made in cryptocurrency. It might be a specialized token like a PRNT coin or they could use one of the major ones. Either way, I can tell you it will not be USD or EUR that is used to make the payment.
Another scenario.
One's medical information is placed on the blockchain. The reason for this is so one's doctor can have access to the data in real time. Since the files are continually monitored by some type of AI, we have up to the moment readings. Any changes that are deemed major will place an immediate alert. It is highly possible the system will give the individual the different steps to take.
Since this data is on the blockchain, researchers are going to want to access it. This is going to cost them. The value of the data is going to depend upon the type of research being done and how it compares to what one has. For example, a diabetic might get paid more for the data than those who are in the control group.
Once again, like the previous example, dollars and euros are not going to be used here. The researchers are not going to send out $50 bills. Cryptocurrency will be the method of payment.
We can go into hundreds of examples like this. Collectively, we have not even scratched the surface with all that will be done in this arena. The ideas are just starting to flow.
For this reason, cryptocurrency is not going away. We will see the creation of hundreds of thousands of tokens over time, serving all different kinds of applications. Some will be very narrow in focus and might have little value. Others will be created for nothing more than branding. A few will catch on and absolutely explode in usage.
The point is that a great deal of the utility of blockchain is non-existent without cryptocurrency. Many like to proclaim that blockchain is of value while cryptocurrency is nothing (usually a banker). The reality is that neither can really exist without the other. To maximize blockchain's ability, cryptocurrency is required.
So it ultimately comes down to does one believe that blockchain will be a cause for change or is it just hype?
I think anyone who spends some time researching the topic will quickly conclude that there is a valid reason for believing this will bring about massive change.
If you found this article informative, please give it an upvote and resteem.
Pictures from Google Images
I definitely believe in the blockchain and understand that it is the future. It's kind of like when the internet came along, at first people just used it for AOL chatting and email, nothing big.... now its used for Everything! So I only see it as a matter of time before it takes over everything, thats why sometimes I refer to it as internet 2.0 ... The thing is to pick the right cryptos, I think a lot of them are just garbage, get rich quick schemes, so doing due diligence is important.. Other than that I think the people who believe and invest now will be the winners in the next tech boom when blockchain explodes into everyday life!
Thanks for this post, it was a nice change of pace from all the damn FUD I've been reading all day..
The Cryptocurrency you use won't matter in the future. Now it's all about trust, relationships/connections and the work.
In my ideal world, we would all live in small villages and use coins from a pouch to buy our goods and services. and what we could not afford we could barter for.... but that's not the case is it? I am slowly- very slowly, dipping my toes into the cryptocurrency stream. Steep it seems like a good place to play around with it while not investing any cash.
Frictionless future
This was an exciting picture for me with the printing of the Adidas shoes because I sell vintage clothing on etsy. So I go to thrift stores, and I see the literal mountains of clothing and shoes that are headed to the landfill. There is so much clothing that's made that never even gets sold. That will massively reduce the amount of shit we make. Shit, that will drastically reduce the amount of everything we make if it could be printed on demand! Drastic decrease in garbage. Unless printing shoes becomes so cheap that people are designing and printing new ones everyday! :D I can kind of see that happening, actually.
Eventually, part of the entire process will be the recycling of the things printed the day before. Hence, one can take off the shoes at the end of the day, have the material broken down in a "recycling" device, and then use that material to recreate another the next day.
This is why the advancements in nano technology and applied materials is so interesting. They are researching things at the micro level in search of ways to break it down and build it up, atom by atom.
That's interesting for the retail industry/experience.
Sometimes I like to buy online, sometimes I like to look (and buy) in shops. Every time I go into a large department store, like John Lewis, I'm overwhelmed by the amount of stuff - there's so much! Who buys it?
I wonder what will happen to our town centres? They are already moving from retail to food and drink outlets.
I think it is the best post I’ve read today. Your prospective is good mate.
I would translated it to Spanish to reach more people.
Steem on!
Im enjoying your writings this one and the last crypto one I caught.. I cant even imagine what the masses are thinking about crypto , and i dont get to see any FUD or news only what i see on here, so yeh for me (and you) its hilerious the comedy that is linked to crypto.. what is the tulip thingy by the way?!
What are your thouhgts on MOD and Mediblock, 2 cryptos that are directly linked to this posts examples of our future?
May I share how I see the general public when it comes to crypto? I had soooo much fun writing this! ;) https://steemit.com/crypto/@brightstar/i-don-t-think-people-understand-how-quickly-crypto-is-going-to-take-hold
Love this article lol
Going to check it out now for breakfast!
hahahhahahahaahhahahahahahahahha fuckin NICE ONE! :)
Excellent post! A refreshing change from the annoying media FUD:)
Apparently cryptocurrency is going to break the internet lol
Al Gore will just create a new one.
He is nice like that.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
I find it fascinating to study how the institutions will work to destroy or take over and ruin something decentralized. I picture an adoption of sorts on their own terms with some bullshit like Ripple which could really spur a huge uptake. Then governments getting involved and bumbling through it like marijuana legalization that they have fought for 100 years.
Some hurdles to leap for sure with opportunity for early adopters and it will be a saga we will never forget.
You know my friend @builderofcastles?
Posted a completely different article this eve but has a lot of the same sentiment. https://steemit.com/faucet/@builderofcastles/get-your-free-satoshis-is-it-worth-it
Quote of the day: "people who genuinely have no clue about what is going on"
Everyday I´m with people that have no idea what crypto is, some have heard about BTC but have no clue what it is, and others think that, because they read some trash publications on doubtful sites, think they know, but have no idea the potential and the mine of gold crypto adopters are sited in!
I need to lower my expectations, because when I hear someone talking about BTC I assume I'll have a decent conversation, but it ends up being just another ignorant that only heard about BTC because of its value.