3 Ways Blockchain Is Already Delivering on the Hype

#News(General) [ via IoTGroup ]

Headings…

3 Ways Blockchain Is Already Delivering on the Hype
Fad, bubble, monopoly
10x advancements
Flaws are fixable
Conclusion

Auto extracted Text……

It’s an odd situation, because while businesses in the blockchain sector are already empirically generating billions of dollars in revenue, the value of digital currencies and assets is often said to be driven largely by speculation on future rather than present utility.
We then discuss the specifics of how the blockchain has already begun disrupting at least three multibillion dollar verticals: the gold industry, international wire transfers and crowdfunding.
No longer dismissed as a passing fad, and not yet attacked as a dominant monopoly, today’s argument against the blockchain sector is that it’s a bubble without real use.
There are at least three multibillion dollar sectors where the blockchain has provided quantifiable 10X improvements over the preceding technologies.
Given that the total value of gold is estimated to range into the trillions of dollars, scaling the digital gold application alone can justify the total market cap of the blockchain sector.
In this case, the real world utility of a blockchain-based technology has actually been underhyped.
As with gold and international wire transfers, the use of blockchain technology empirically introduced a 10X improvement, allowing international crowdfunders on the scale of hundreds of millions of dollars to occur for the first time.
It is simply important to note that blockchain-driven improvements in crowdfunding technology have enabled financings of an unprecedented scale and speed, literally 10X larger and faster than what came before.
The three application areas outlined above — digital gold, international wire transfer, and crowdfunding — demonstrate that blockchain-driven 10X innovation is already here

Read More..
AutoTextExtraction by Working BoT using SmartNews 1.02976805238 Build 26 Aug 2019