Blockchain News – Blockchain users will get benefited by Unused Assets, Excess Capacity
November 11, 2017 11:57 am
Blockchain looked like all about Bitcoin in the beginning. But this technology is constantly extracting beyond its use. In this case, Blockchain is getting improvements in unusual areas as well. On of such are is none other than the monetization of the unused assets like Internet bandwidth and SMS services.
From Novelty to the Opportunity
Jason Cassidy, the founder of Helium explains this improvement as one of the wonderful aspects of the blockchain technology. He mentions that the ability of the blockchain tech to remove the wastefulness across the world would make it stand out. The capacity of putting the undistributed resources to the purposeful use will quickly become possible.
“Looking back in the brief history of cryptocurrency, we can see there are examples of Blockchains that put this into practice. [One such project] puts wallet users computational resources to use to help find causes for diseases while [another] takes a similar approach and applies it to scientific research.”
Jason further describes, this trend would constantly grow as blockchain developers to discover the new ways of putting the resources to use by mixing up them all together to be used for a general, unified aim.
A reasonable example is none other than the A2P SMS services market with the pride of an expected $63 Billion revenue in 2017. The blockchain based services will soon provide the opportunity for everyone to sell their unused SMS to social networks and other organizations. They can use it for SMS notifications, SMS based two-factor authentications, automatic booking confirmations, OTPs, and other services. The users who will contribute will become the significant player and will earn part of the huge revenue that exists within the market.
In this case, the blockchain-based service may create the first ever universal basic income.
Blockchain powered Internet
CEO of Netcoins, Michaels Vogel says that it can be possible to create a whole new internet which can be built on the blockchain. Michaels describes that Kim Dotcom is working on something dubbed the Meganet, an alternative internet that does not use the traditional IP addresses and is significantly more secure because of its blockchain backbone.
The interesting part of this idea is how unused computing power (e.g our phone when it is not in use) would contribute its storage and processing power to the MegaNet.
“I think there is huge potential for other ideas in the future to make use of the world’s dormant computing power, and harness it through Blockchain applications.”
CEO of Never Stop Marketing Jeremy Epstein describes that this whole situation is regarding improving the utilization of the assets. According to Jeremy, unused bandwidth is an asset till now, there was no such effective way to get balanced for it.
An unavoidable development:
The combination of blockchain technology and crypto-economics makes such projects not only practical but also unavoidable.
Jeremy Epstein describes that we will see this play out in any of the industries where assets are undervalued because they are underused. Business persons will find the ways to utilize nearly any excess resource at the time. Empty shipping containers and cars which are traveling from city to city and even the premium website domains that people are just squatting on can influence through the blockchain technology.
This is nothing but the power of the decentralization, a collection of people voluntarily working together. Anyone can join or leave as they like. This freedom of choice aligns well with the human mindset and we like to see much more of this innovation in the upcoming days.