Thread
We are all excited how web3 will change the world in the future.
As such, we forget how it's changing the world NOW!
Here are the top 7 disruptive use cases of crypto happening today:
🧵👇
As such, we forget how it's changing the world NOW!
Here are the top 7 disruptive use cases of crypto happening today:
🧵👇
They might be less exciting than apes and punks, but they solve fundamental business problems.
For starters, let's use some first principles thinking.
What do blockchains enable?
For starters, let's use some first principles thinking.
What do blockchains enable?
First and foremost, they enable secure Peer-2-Peer transactions.
P2P means there's no need for a middleman, as transacting on the blockchain ensures trust between the participants.
This, in turn, has numerous real-life use cases.
Here are just a few.
P2P means there's no need for a middleman, as transacting on the blockchain ensures trust between the participants.
This, in turn, has numerous real-life use cases.
Here are just a few.
1/ Real estate is an obvious first choice.
With middlemen ranging from agents to banks, developers, government, etc.
Once the property is on the blockchain, selling or renting becomes as easy as selling your NFT on OpenSea.
With middlemen ranging from agents to banks, developers, government, etc.
Once the property is on the blockchain, selling or renting becomes as easy as selling your NFT on OpenSea.
@PropyInc is doing this.
The first home was sold in 2017 in Kyiv, Ukraine, for 36 ETH.
Here's a picture of @VitalikButerin handing over the keys. Literally.
The first home was sold in 2017 in Kyiv, Ukraine, for 36 ETH.
Here's a picture of @VitalikButerin handing over the keys. Literally.
2/ Banks hate crypto in public but quietly integrate blockchains into their backend.
@ConsenSysQuorum is an Eth-based enterprise blockchain that helps banks like JP Morgan create instant interbank transactions.
JP Morgan even has its JPM Coin.
@ConsenSysQuorum is an Eth-based enterprise blockchain that helps banks like JP Morgan create instant interbank transactions.
JP Morgan even has its JPM Coin.
3/ What about logistics.
It takes around 25k emails to coordinate one shipment.
Covantis is bringing it down to a couple of clicks for the vendors on their platform.
It takes around 25k emails to coordinate one shipment.
Covantis is bringing it down to a couple of clicks for the vendors on their platform.
4/ Accounting and audit is a helluva document exchange nightmare.
But once all documents are on the blockchain, there's nothing left to audit.
Ernst & Young understands this and is developing their own products on top of Polygon's protocol.
But once all documents are on the blockchain, there's nothing left to audit.
Ernst & Young understands this and is developing their own products on top of Polygon's protocol.
I know what you might be thinking.
Sergii these are permissioned private networks without the decentralized aspect.
Or in other words: these are booooring...
I hear you. Here are some web3 native applications.
Sergii these are permissioned private networks without the decentralized aspect.
Or in other words: these are booooring...
I hear you. Here are some web3 native applications.
5/ DeFi sector was shaded by NFTs last year.
Yet it is the only one with the actual utility.
You can become a bank regardless of how small your deposit is.
Yet it is the only one with the actual utility.
You can become a bank regardless of how small your deposit is.
Earn 20% on your stablecoins with @anchor_protocol
Want higher APY? Provide your liquidity directly to the DEX pools.
All without the typical bureaucracy and bs around the banking experience.
We are the bank, people!
Want higher APY? Provide your liquidity directly to the DEX pools.
All without the typical bureaucracy and bs around the banking experience.
We are the bank, people!
6/ B2B payments usually have a 30 to 90-day payment term, meaning you won't be paid for your service up to 3 months after delivering it.
Now you can get your money right away.
@centrifuge lets you tokenize real-world assets like houses or invoices and then borrow against them.
Now you can get your money right away.
@centrifuge lets you tokenize real-world assets like houses or invoices and then borrow against them.
7/ @terra_money powered platform ‘Chai’ is allowing around 2.2 million users to transact the Korean Won stablecoin (KRT) with thousands of merchants, including Nike Korea.
Most of the consumers would not even know they’re using blockchain technology, nor do they need to know.
Most of the consumers would not even know they’re using blockchain technology, nor do they need to know.
Are there a lot of useless projects in web3?
Absolutely!
But they don't cancel the revolution we are experiencing now.
Absolutely!
But they don't cancel the revolution we are experiencing now.
If you agree, please retweet this thread so more people will understand this.
And for more web3 takes every week, please follow @SSokoliuk
