The online world is changing. Artificial intelligence has been expected to make a profound impact for some time. During this time, blockchain has been flying under the radar. One of blockchain’s greatest advantages is its versatility. Shervin Pishevar alluded to this in discussing its economic potential.
Best Uses for Blockchain and Cryptocurrencies
Basically, anywhere there is data, blockchain can be employed to make the system more efficient. Shervin Pishevar was especially concerned with centralized data in the economy. This is where blockchain battles for relevance. Cryptocurrencies are more specialized and are popular within fintech.
Cryptocurrencies: More than Money
It is doubtful that as many people would have heard about cryptocurrencies if the technology was merely being used to tokenize user information. Cryptocurrencies can be used as vouchers and coupons. They can represent tradeable data like gaming skins. Where blockchain is a permanent ledger, cryptocurrencies are transferable. Cryptos are already being personalized by users.
A Tokenized Future
Shervin Pishevar stressed the importance of small business innovation. What better way than for every user to have their own crypto token. Imagine making use of your data. Instead of Facebook marketing its user data to advertisers, imagine if every user could monetize their personal information. Large organizations would no longer be paying for marketing data or contact information. This information would take a new form; one guided by each user’s specifications and needs.
Finance is certainly one of the best use cases for both blockchain and cryptocurrencies. But, you would be amiss if you thought that was all there was behind the ideas presented by people like Shervin Pishevar. In blockchain, the world has the ability to manipulate data in ways never before imagined. What was once the fantasy of data scientists is now a reality.
The potential exists to maximize the world’s resources on a personal level for individuals even in the most remote regions. Like the Internet was overlooked in its capacity to make information available and connect the world, so too are untapped decentralized blockchain applications.