Discovering The Next Big Thing In Blockchain Adoption

in #defi3 years ago


Represented here is my response on a recent crypto panel where we were to point the audience to what the next big breakthrough might be in blockchain adoption

The presentation of the question appears to cast a shade or two of confusion on what a 'dApp' really is. So, let's clear that up first before we go on to understand where we are headed in blockchain usecases.

dApp stands for Decentralized Application or what I'd like to call, for the purpose of this write up, 'A Decentralized Userpoint' or, more aptly, 'A Decentralized Point-Of-Usage'.
It goes without saying that any item or tool that helps us relate with (or express ourselves on) the blockchain can be referred to as a dApp. So, a DEX is a dApp, an Explorer is a dApp, so is a Coin or Token, and by extension, a Non-Fungible Token (NFT). Still in this same light, there are various categories of dApps depending on what they helps us achieve on (or with) the blockchain. There are Decentralized Finance (DeFi) dApps, Artificial Intelligence (AI) dApps, Machine Learning (ML) dApps, Wallet dApps, Gaming dApps, NFT dApps etc. And as in any other item or tool we use on planet earth, the use to which we put some basic dApps can overlapp to other areas, and form what I'd like to call "Composite dApps".

Yes, we're heading for a 'Composite' future in blockchain applications.

So, in trying to pin point the next big thing in the blockchain space, let's look out for that dApp that solves challenges in two or more aspects of our human existence as well as put more money in our pockets.
Did I just mention 'DeFi' again?

Well, yes, the dApp must include a good enough touch of finance for it to survive in the new paradigm that came with DeFi few months ago.
As can be seen from this chart:


Smart money didn't take us seriously until DeFi broke out in 2020.
Satoshi came out in the beginning with "Decentralized Peer-to-peer internet money", Ethereum extended that later on with Smart Contract and tokenization which could only take the Crypto industry to a max of $600B in market capitalization after 10 years of struggle.
Then came DeFi dApps which weaved all those prior ideals and usecases into a tool that helped us make more money on top of our money on, even, rare compounded auto-pilot mode. This was what opened the floodgates that'd taken the cryptosphere to above $2T in less than 8 months.

Here on out, therefore, any dApp that want to compete for user adoption in our crypto space must, in addition to being useful in one or more other industries, have a DeFi offering, and a good one at that.

Sticking my neck out, I'd say the next big thing in blockchain is dApps with NFT+Gaming+DeFi offerings. And Twitter search remains my discovery channel of choice.


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