Industries of Decentralisation

February 13, 2018
blockchain cryptocurrency

When we refer to industries, we usually mention “tech” as its own industry. In the future, this may not necessarily be true. The world’s going through an interesting phase in history where tech is already slowly merging into traditional businesses. This is most evident through Uber’s disruption of the taxi industry, AirBnb for hospitality and the list goes on.

The blockchain takes this merger to a whole new level.

With the rise of blockchain tech, we’re seeing the rapid emergence of an asset class that was only once only available to governments — currencies. Suddenly any company in the world can create their own currency/token/coin just for their own ecosystem of products in any industry.

Supply Chain

Ensuring integrity and consistency of data across multiple transportation carries is often tough, if not impossible. Through the blockchain product data can be standardised thus allowing a trace of where a product came from and how. A few examples of players in this space:

Platforms

Rather than creating your own blockchain, platforms allow developers to build applications on top of an existing blockchain.

Exchanges

Currently the total number of cryptocurrencies listed on CoinMarketCap.com is ~1500. In the future this number is going to explode. Each currency/coin/token is going to have it’s own use and there’s going to be different ways to exchange between them based on a variety of factors.

Infrastructure

The blockchain has it’s own set of problems that need to be addressed. Not surprisingly enough there’s a bunch of coins meant to solve the various issues:

Enterprise

Large corporations are exploring new ways of doing business by incorporating the blockchain into their business. Here’s some projects that are helping to achieve that:

E-Commerce

Not all cryptocurrencies are geared up for being used as payments at this stage. NANO and REQ are two of many projects that aim to solve problems for paying with crypto.

Privacy

Many currencies/tokens show the records of money moving from one address to another. Despite the addresses being completely anonymous, if one address can be linked to an identity (exchanges that hold your private keys) the trail of money is easy to follow.

A lot of these projects are still in very early phases (tons of speculation too) although they’re a glimpse into how a decentralised future looks like!

Would love to hear your thoughts/suggestions about this article.

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