Blockchain – what’s next?

“Do you have a new hobby?” Asked some of my most loyal followers after I posted the last two articles. And if anyone is wondering, yes it is still me, Ruth, writing.

I tell you a secret: it’s pure curiosity!

All I really wanted, was to understand why Google and Facebook are not supportive of cryptocurrency. While researching I learned that there was a whole world of values, ideologies, technologies and innovations behind it.

Like many revolutionary inventions, it threatens established frameworks. It takes the courage of revolutionary thinkers to prove their advantages and eventually turn them into a benefit for humankind.

For some reason I have the feeling blockchain may be one of those inventions. And I am not alone.

Blockchain already entered into one of the best known research institutes of the world. NASAs research program RNCP (Resilient Networking and Computing Paradigm) explores its use in space. The idea is to enable a spacecraft to react to unexpected interferences autonomously, i.e. avoid debris and adjust its course. Scientist believe a decentralized, data-driven network technology, such as blockchain combined with Artificial Intelligence, might do the trick.

Different business sectors are paying attention to blockchain technology. One idea is to implement the network technology in the air travel industry. The international consulting firm Accenture presents interesting advantages. These include crucial issues like security, identification, maintenance logs etc. But also loyalty point schemes and ticketing could be made simpler and smoother.

Another interesting project is that of eCharge, providing a solution for recharging electronic cars. The companies vision is to distribute charging stations in hotels, public parking, office buildings etc., entering into a vendor partnership with the owners. Anyone using their services can then refuel their cars easily during their stay.

For billing the company uses its own tokens eCHG. One can image a system in which each user is charged directly or through the hotel, which would charge the visitors credit card with the relevant token price at the time.

Whatever the scenario, as a consumer I ask myself, if in the future I will need different currencies for different services? That seems like too much hassle. On the other hand, we buy things with coupons and we collect loyalty points in various membership clubs to get discounts or presents. Digital tokens or coins seem like the logical extension.

But where and how would we keep and manage the coins we own?

Would we need a separate e-wallet for each or could we keep them all in one? Immediately the question of security pops into mind. How can I be sure they are safe? How can I even begin to understand what the dangers are? And, even if an e-wallet provider ensures and explain to me all the security features, how can I be assured?

A company that manages to get the trust of the consumer has a bright future. The e-wallet business will be a very profitable one. The one that manages to provide reliable safety over time while keeping it simple has the best chance of growing an empire. Interesting to check what is already being developed in that area.

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