• Latest
  • All
  • News
  • Business

When Will Cryptos & Blockchain Really Explode?

Oct 8, 2018
5 Ways An Enterprise Software Solution Can Improve Customer Relations

How to Optimize Project Timelines and Budget for Outsourcing Software Development

Jun 2, 2023
5 benefits of SEO to the online gambling industry

Why SEO Service Experts Are Essential for Your Business

May 31, 2023
Why Do College Students Love Gaming?

12 Addictive Free Online Games That Will Keep You Hooked

May 27, 2023
5 Key Steps to Growing Your Online Business

5 Key Steps to Growing Your Online Business

May 25, 2023

Marijuana legalization law in california

May 22, 2023

How to Optimize Your Printing Workflow With a Desktop Extruder

May 13, 2023
Fundamentals Of Quality Website Design

How UX Design Agencies Can Help You Build a Customer-Centric Website

May 12, 2023
Can a VPN Service Help Your Business?

Securing Your Digital Footprint

May 8, 2023
How to Use Glass in Your Home Renovation Project

How to Use Glass in Your Home Renovation Project

May 2, 2023
How Photobook Software Can Help You Preserve Your Memories Forever

How Photobook Software Can Help You Preserve Your Memories Forever

Apr 26, 2023
Dock Maintenance 101 – Tips and Tricks for Keeping Your Dock in Top Shape

Dock Maintenance 101 – Tips and Tricks for Keeping Your Dock in Top Shape

Apr 24, 2023
The Benefits of Investing in Data Catalog and Metadata Management Tools

The Benefits of Investing in Data Catalog and Metadata Management Tools

Apr 24, 2023
  • Guest Posts
  • Advertise
  • Contact Us
  • Privacy Policy
Sunday, June 4, 2023
Tech Featured
  • Home
  • Latest Tech
  • Apple
  • How to’s
  • Apps
  • Automobiles
  • Gadgets
  • Gaming
  • Reviews
  • Tech Tips
No Result
View All Result
No Result
View All Result
Tech Featured
No Result
View All Result
Home News

When Will Cryptos & Blockchain Really Explode?

by techfeatured
Oct 8, 2018
in News
0
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

Every day there is more news about what can, may, and should happen in the world of Crypto Currencies (CC’s) and Blockchain. There has been significant investment, research, and lots of chatter, but the coins and the projects are still not mainstream. They have not yet delivered the explosive changes envisioned. Many ideas are being discussed and developed, but none have delivered big game-changing results. What may be needed is for big industry players, like IBM, Microsoft, and the large financial services corporations to continue forging ahead in developing useful Blockchain applications – ones that the whole world can NOT live without.

Financial services are a ripe target for Blockchain projects because today’s banking systems are still based on archaic ideas that have been faithfully and painfully digitized, and because these systems are archaic, they are expensive to maintain and operate. Banks almost have a good reason to charge the high service fees they do – their systems are not efficient. These systems have many layers of redundant data, as everyone involved with a transaction has to have their version of the transaction details. And then there is the business of ensuring that there is a trusted third party to clear all these transactions – requiring even more versions of the same data. Blockchain technology holds out the promise of addressing these issues, as each transaction will be captured in just ONE block on the chain, and because it is a distributed database, security and integrity is built-in and assured. It may take some time to build up trust in these new systems, given that the verifiers of Blockchain transactions are not the traditional clearing houses that banks use and trust today. Trust by the banks in a new technology will take time, and even more time will be needed for that trust to trickle down to consumers.

Another company that may soon be ready to give CC’s and Blockchain a big boost is Amazon. It looks like Amazon is getting ready to launch their very own crypto currency. This is a company with revenues the size of a good-sized country, and they are in a position to issue a digital token that would be fully convertible with other CC’s, and fiat currencies too. A move like this would enable Amazon to:

  • issue (AMAZON) coins to reward and incentivize developers on any of its platforms
  • issue coins to consumers to use for in-app purchases
  • issue coins to game players for in-game purchase of virtual goodies
  • issue coins to regular customers as part of a loyalty programme

Amazon may have the ideal ecosystem of customers and partners to make this all happen. Worldwide they have about 300 million customer accounts, roughly the population of the USA, and they have 100,000 sellers on their platforms, with millions of items for sale. There is hardly a more mainstream company than Amazon, with a massive, vibrant economy all linked in. Amazon’s imminent entry into the world of CC’s may signal the adoption of blockchain technology by mainstream institutions on a large scale. What could be just around the corner if an AMAZON coin comes into play is the likes of a DISNEY Coin, a DELTA AIRLINES coin, a CARNIVAL CRUISES coin, a HOME DEPOT coin – you get the picture.

Stay Tuned!

Tags: ampBlockchainCryptosExplode
ShareTweetShareSendShare

For any queries, you can reach us at [email protected]

Latest Posts

  • How to Optimize Project Timelines and Budget for Outsourcing Software Development
  • Why SEO Service Experts Are Essential for Your Business
  • 12 Addictive Free Online Games That Will Keep You Hooked
  • 5 Key Steps to Growing Your Online Business
  • Marijuana legalization law in california
Tech Featured

© 2022. All Rights Reserved.

Navigate Site

  • Guest Posts
  • Advertise
  • Contact Us
  • Privacy Policy

Follow Us

No Result
View All Result
  • Home
  • Latest Tech
  • Apple
  • How to’s
  • Apps
  • Automobiles
  • Gadgets
  • Gaming
  • Reviews
  • Tech Tips

© 2022. All Rights Reserved.