How will blockchain technology enter the mainstream — AEternity and Other Projects
Blockchain technology has a long way to go to reach mass adoption. One of the great things that blockchain technology does is create trust where there is none. A blockchain can take situations where two parties would have to agree on something, for instance exchanging money, and make it provable even though the two parties never meet or even know who each other are. There are endless situations like this where a blockchain can provide proof when there is none. I think that more situations like the example need to come to light into the mainstream to really allow blockchain to reach its full potential.
With the advent of the Ethereum blockchain, there came a thing called Smart Contracts. These are essentially computer programs which can run on the blockchain, be proven, and can do things such as make a payment at a specific date, or upon a specific event happening. One can utilize such technology to render invoices for payments from vendors. Another thing they can do is prove the transit of an item such as a piece of fruit along its journey to your kitchen. And this is all while only storing such data on the blockchain and nowhere else.
There are many projects out there creating blockchain technology. One such company is AEternity which is trying to create a secure, fast and provably secure blockchain that any developer or company can use to create trustable transactions. This can include ingame items, financial applications, transfers of large sums of money from A to B, etc. The best part is that the only thing limiting what a blockchain can do is your imagination.
So I end this quick update on what a blockchain is with my idea on what i think it will take for the technology to go mainstream. And I think that is imagination. There needs to be some mainstream apps that really show how to fully utilize the tech, and they need to be impactful. Maybe the next election in your country won’t have any doubts because every vote was cast through the blockchain in a provably secure manner. Maybe that means that your food that you ate for dinner tonight came from exactly where you thought it came from. I’m not sure what that one application will be, but I guarantee you that blockchain technology will become a part of your everyday life — whether you know it or not.