Blockchain can be a breath of fresh air for multimedia’s ongoing push for wider reach by streamlining the connection between content creators and brands looking to capitalize on their exposure. By supporting new and unique ways to connect and remove the need for intermediaries who inevitably slow the process, blockchain offers a freer and more dynamic ecosystem both for vloggers and the companies seeking to expand their influence.
Ethereum remains the king for now as its competitors continue to find their footing and attempt to gather recognition. To its credit, the platform is working on improvements—including making the switch to PoS consensus and implementing the lightning network for off-chain transactions—but it is fair to question if it is too little, too late.
Blockchain-based computing tools are built on the strength of their networks, which is both a negative and a positive. On one hand, they are entirely reliant on the number of users connecting and collaborating, so they could theoretically fail before they reach critical mass. On the other, they provide a truly viable model to unlock the real potential of computing power to continue fueling technological innovation.
Mainstream adoption will be key to change people's perception of the crypto space. Dapps are ideal candidates to encourage this shift as they are primarily designed to appeal to ordinary users. Proving their usefulness and usability should make them practical alternatives to existing services.
As players are given a greater share of the value generated by their own fandom, new dynamics in the relationships between themselves and content providers will emerge. This is going to be big in the gaming world, but blockchain still has an uphill battle to face.
With the advancement of blockchain technology into supply chain management, everyone involved in production, shipping, wholesaling and retailing of all products, from precious stones to perishable food products, can be made aware of each link in the supply chain as each is connected.
The best compromise for someone who has cryptocurrency burning a hole in their pocket is to get both a crypto debit card and a standard credit card like those mentioned above. This way, they can travel around and use their cryptocurrency card where it’s accepted, and their other card in those places where a snag is bound to occur.
While the space continues to evolve, active participation by many high-profile companies as well as investors indicates good traction in the emerging marketplace. Blockchain and crypto-based markets will add a new dimension to the exciting world of investments and trading, creating a faster, cheaper and more transparent process.
Centralized exchanges are not without their problems—and some of the issues are real causes for concern—but they also give the sector much greater exposure, and most importantly access to fiat capital. Thanks to their regulation, connection to the traditional financial system, and accessibility, they help new traders enter the market, and continue to grow the industry toward critical mass.
In the end, users are left with a real dilemma: they may know the game is crooked, but it’s the only game in town.