ICOs, Bockchain & Digital Currencies Under-Hyped? Really?

blockchain

WHOA! Be ready to broaden your thinking. Here is a super read that makes the case that cryptocurrencies (bitcoin, ethereum, etc), ICOs and blockchain in general are all NOT JUST FINTECH. Oh NO NO NO! They are EVERYTHING and so misunderstood. Great read and open your eyes to the future.
(Bill Taylor/CEO)

“People keep thinking that Bitcoin, Ethereum and Blockchain generally are Fintech or crypto currencies. In doing this they fundamentally misunderstand the power of the innovation occuring around the world.

It reminds me of when John Doerr used to say that “the Internet was under hyped” in 1999 when everyone thought it was insanely over-hyped. This was in 1999 when no one watched video online, or accessed it from anything other than a desktop. Now half the internet is video and much more than half is mobile and always on.

Blockchain is expanding at a much faster pace. Some thoughts on where it’s already going:

Core protocols: Bitcoin, Eth, EOS are trying to create platforms that others can build on — similar to Windows or Linux

Infrastructure: AWS is under attack by a new breed of competitor: Filecoin, Golem and others are going to replace cloud players for compute, storage, DNS, etc, etc

Applications: Too many to count… . Everything from consumer services like Pryze to business services like BlockV

Securitization: Making illiquid investments liquid. Polymath is building simple tools to allow financial players to securitize everything from stocks to mutual funds to you name it. There’s already ICO’s for gold, real estate, and I recently got pitched one for sand???

Fintech: and that doesn’t even include the originally obvious ideas like micropayments, automating payments generally at zero cost, and more

So 10 years from now what will we look back and wonder how we didn’t see it coming — in the same way watching all my TV online in 1998 was pretty hard to believe? Not sure I have the answer but a few thoughts…”

Full Post at Hackernoon