Markethive: Industries That Blockchain Will Radically Transform Messaging

Friday, March 9, 2018

Industries That Blockchain Will Radically Transform Messaging

The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry. Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Messaging

Encrypted communication channels are already growing in commercial popularity, with Telegram being the most well-known. Now, more communication systems like Slack, Kik and Telegram are conducting ICOs to help establish blockchain platforms. Considering the size of the user base, a lot of money could potentially be raised.

There are several new entrants in this space that do not have a user base outside the cryptocurrency community. Crypviser is one of these. The Mercury Protocol, built on the Ethereum blockchain, allows integration with communications platform for end-to-end security in communication. While the use of blockchain for these industries is not on the same level of change as the others, it is indicative of blockchain’s rapid adoption.

Chuck Reynolds

Marketing Dept

Contributor