The cryptocurrency world is looking more promising than ever. Block-tech is changing the way that traditional ecosystems were working, digital currencies are differentiating the money market, however who will be the first to take the step towards creating applications like Instagram for photo sharing, or an app like Amazon is for e-commerce?
Dixon and Ehrsam describe the significance of cryptocurrency and its rise through the analogy of how the Web changed information.
The Web allowed for the programmability of information for the first time, cryptocurrencies and tokens allow for the programmability of money or value for the first time.
Thus, through the Internet, new businesses were opened up to the entire globe as information and data was transferred instantly. They feel сryptocurrencies can do the same for money.
The only way to stay at the top of the era-changing wave of technology through adaption, are the only ones that give all-in being the first native app ont he kind.
For example, Amazon success is based on the thought of keeping one foot in a normal bookstore, and the other in brick-and-mortar store likewise.
On the other hand, Instagram brilliantly rode the wave of change which in that particular time was mobile-only apps, making it possible to upload pictures and media only from the phone while Flickr made you go to your computer to do it.
Instagram changed the paradigm however and created a mobile-only photo app that did not even have a webpage – something unheard of at the time.
It is hard to even say what the defining Blockchain business that sparks a revolution will look like. There are more and more ICOs and companies trying to be the genre-defining one, especially with the use of Ethereum and smart contracts, but up until now, nothing is gaining big enough traction to be noticeable.
That is not to say that the Blockchain-only native business has not yet been created; time may be the factors keeping it back.