Everyday Blockchain: Using DLT dApps in Every Way for Every Thing with Everyone
The concept that blockchain is only used for cryptocurrency purposes is a misconception that continues to hurt the public understanding of blockchain technology. It’s true that blockchain was first contrived in the mainstream with the creation of Bitcoin years ago.
And the technology has clearly gained its biggest spurts of exposure though its use in numerous cryptocurrencies and altcoins over the years. But if crypto is going to really hit the big time and win the coveted prize of mass exposure, the world needs to understand that blockchain is about more than digital assets.
In that light, it is important that the community shine a spotlight on some of the most innovative—yet important—ways that the technology that underscores Bitcoin can affect the everyday life of the average person. The technology only continues to evolve, meaning that the list of ways the common man can benefit from the blockchain will only continue to grow and expand as time goes on.
Without further ado, here are some of the top ways that the blockchain can be, and often is, used in the everyday lives of people all around the world.
An Economy Of Sharing
A startup company called ShareRing is trying to capitalize on what they call the global “economy of sharing.” The trend of sharing certain things, notably cars and gas through Uber and hotel rooms through AirBnB, has been explosively popular, especially in the United States. The company seeks to use blockchain technology to expand the sharing economy to include nearly anything.
Using the global and information-oriented power of blockchain technology, this startup company allows its users to rent out nearly anything that they possess. The official release date for the initial platform is set for some time in November, and it will function by linking people who want to rent something with someone who happens to have that thing—all using blockchain technology as a centerpiece.
The global economy is becoming increasingly inter-related. But for many businesses and individuals alike, the process of transferring money all over the world is increasingly costly and difficult. Blockchain could provide a potential solution to this issue. Several companies across multiple borders have partnered in order to create their own “settlement coin” that could be used to eliminate or minimize costly transaction fees and inefficiencies in the transfer process.
Again, this service is predicted to hit the public sector in the latter half of 2018, meaning that the cryptocurrency and blockchain community could be in for a very exciting time later this year.
Blockchain is also being used to allow workers to unite to fight unfair working conditions and oppressive situations. The Coca-Cola company recently announced their partnership with the United States’ State Department in an effort to create a registry to include sugar industry employees all over the world.
The immutable ledger can publicly store contracts for workers in order to help companies and regulators prevent unfair labor conditions and abuses of power.
The Big Impact
In addition to adding a level of credibility and much-needed legitimacy to the blockchain industry, it is clear that these applications will help to contribute to a new generations of blockchain-eager consumers who understand and want to innovate the expanding technology.