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Blockchain For Cryptocurrency And Other Sectors

Blockchain is at the crossroad to move beyond the proof-of concept. For the first time in history, we have the opportunity to transform and rewire the global trade infrastructure.

Blockchain technology is moving from another IT solution to an ecosystem builder, building public networks that connect and collaborate with communities through cryptocurrencies vs. internal asset management system on blockchain.

Blockchain solutions come in 3 waves: 1: Data/Transactions, 2: Smart Contracts, 3: Executable Applications. Most of today’s solutions are Wave 1. Wave 2 is very immature. Wave 3 hasn’t started.

Blockchain will support the cannabis ecosystem by providing an immutable ledger that follows the journey of cannabis from seed to sale. A correctly implemented cryptocurrency is the logical solution to an ongoing issue with an unregulated marketplace.

The blockchain will allow individuals to store their personal healthcare data privately. Combined with AI, the blockchain will empower individuals to share their health data for the benefit of others.

Blockchain technologies are going to significantly change how value is exchanged in our economy. The use of technologies like Ripple is the start of this move to an ‘internet of value’.

The near future for the underbanked lies in cryptocurrencies. There are a number of lending platforms that are being built that would allow these underbanked individuals to be serviced by their peers on crypto lending platforms such as EthLend and Bitbond.

The Blockchain gold rush is likely to commence in a couple of years when more than a few successful implementations globally will pave the way for a mass desire towards adoption.

The most exciting development in cryptocurrencies are that some are being designed to be easier to use for non-geeks, where the tech is well hidden behind better UX design. New blockchains such as from Nimiq, The Divi Project, and Electroneum are coming online for this purpose.

Over the next 18 months, we will move from blockchains as a currency mostly used for speculation, to blockchains used for identity, payments, smart-contracts, and new kinds of marketplaces.