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How is the technology blockchain going to revolutionize industries?

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theycallmedan
75
2 months agoSteemit3 min read

The word blockchain has become this magical mysterious thing to people.

In reality, blockchain is just a redundant database run on nodes across the world. Blockchains like Bitcoin are simply public, opensource distributed ledgers.

I can go on and on about blockchains and how they work, but I won't bore you with the technical details but I will open your eyes to the vision of what blockchain can empower.

Blockchain goes far beyond just Bitcoin!

First off, users don't want blockchains, they don't care…

Users want a great experience!

It's up to applications to leverage the awesome power of blockchain technology without losing a great user experience.

Web 3.0 is the start of global decentralized data banks. Owning your data is the future of the internet. With the invention of public & private keys, we can now literally own our data by hodling our private keys.

Not your keys, not your data.

Web 3.0 will transform from users with no authority, to stake based users. You will own a small piece of every site you use in the future. User incentives will be aligned and a sort of natural Universal Basic Income (UBI) will be formed by doing what we do every day anyway.

The content creators that leverage their following using Web 3.0 tools will become the next powerhouses of social media.

Content creators in Web 2.0 are RENTERS.
Content creators in Web 3.0 are OWNERS.

Web 3.0 is switching from "free" to use applications to applications that reward users in stake. Web 3.0 apps will pull everyone into being stake hodlers!

Free to Play < Get Paid to Play

Outside of money, social applications & games are some of the first industries revolutionized by blockchain.

A new age of how curation and content aggregation is going on right now by Web 3.0 social applications. While the centralized Web 2.0 sites have turned into ad selling companies, putting the users last on the totem pole.

Web 3.0 puts the user first, makes them stake hodlers in the platform.

For instance, a current Web 3.0 site called https://steemit.com/ has given out over 100 million dollars’ worth of tokens for free to its users!

Steem did not have an ICO, was bootstrapped from the ground up and did zero marketing. That is the power of Web 3.0 in action! Projects not only lift themselves but also their users as well.

The future of the internet is decentralized, censorship-resistant and with everyone being stake hodlers, all boats rise with the tide when it rises.

Every industry you can think of that uses the internet will be effected by blockchain, money, finance (DeFI.) social applications like https://steemit.com/ & games like https://splinterlands.io/ are just the first to be revolutionized.

For more information on blockchain, feel free to join the Steem Quora Space: https://www.quora.com/q/otycmrjbbhahuqae?sort=top

This answer is a promotional effort to raise awareness about Steem on Quora. Earn upvotes for your Steem Quora answers! Details here: https://steemit.com/promo-steem/@theycallmedan/quora-onboarding-initiative-updated

Quora link to this answer: https://www.quora.com/How-is-the-technology-blockchain-going-to-revolutionize-industries/answer/Dan-Hensley-5

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