Blockchain technology, like that which supports Bitcoin, is a disruptive technology to several industries including finance. Three devastating characteristics: unencumbered development(open-source), unconstrained growth(crowdfunded/crowd-sourced, unregulated, decentralized), and undisciplined strategy (self executing eco-systems and smart-contracts).
These new open-source innovations do not follow conventional strategic paths or normal patterns of market adoption. Consumers in every segment will defect almost simultaneously—in droves. Example: An ad-supported version of the game Angry Birds was downloaded over a million times in the first 24 hours it was available on Android devices. (That number might have been even higher had the enthusiastic response not crashed the developer’s servers.) Seven months later the game had been downloaded more than 200 million times.
The new blockchain alternatives are simple apps or Dapps (decentralized apps). A Dapp is your access from the internet (TCP/IP), to the blockchain infrustructure that runs on top of the internet. This tech is co-owned by all it’s users, is user friendly, mobile, and semi-anonymous to fully anonymous. Anywhere I am asked to pay a fee to a middleman, or some 3rd party who controls my money or digital identity or digital information (eg. Equifax), if I need my records immutable, permanent, secure, and under my total control including who has access and for how long, in any location at any time, I look for a decentralized alternative. If one does not yet exist, I consider investing in blockchain development projects working to create one, so that I can transition over to it when the product is released. I download the Dapp and engage. When people find out they can have this much control and transparency in a secure and anonymous, peer-to-peer environment, THEY WILL DEMAND NOTHING LESS. Will your industry offer such trust and incentives?
The current market has assumed that disrupters start with a lower-priced alternative. This isn’t the diffusion of farm practices - this is the decentralization of everything.
Blockchain tech isn’t a competitor in your industry using the same base infrastructure to compete with you. This is a new base economic system, complete with an autonomous, pre-programmed, self-executing infrastructure -- streamlined directly to the peer-to-peer level - anonymous and secure.
These open source innovations and radically advanced cryptographic infrastructure systems give programmers the opportunity to take problems that plague our society and program autonomous self-executing solutions beginning with the fraudulent global financial system.
Voluntarily choose the infrastructure you want to engage in based on the self-executing characteristics you wish to interact with. Chose ecosystems that solve problems or challenges that hinder you from reaching your goals. Voluntarism. Open competition. Diverse blockchains for diverse needs. Decentralized. Open Source. Immutable & Permanent. True Free Market. User Friendly. Accessible by all.
Consumers in every segment will defect simultaneously—and in droves - as fast as the old system can handle the transition. Constant upgrades are making these ecosystems cheaper, faster, and more user friendly. Blockchains are infinite so as quick as the TCP/IP platforms (exchanges) can transfer instruments from the old system to the new infrastructure it will accommodate every soul, including the almost 4B unbanked people across the planet. All you need is an internet, satellite, cell, or even just Bluetooth connection. see The future will be decentralized – Charles Hoskinson TEDxBermuda
Here is a list from the article Banking Is Only The Beginning: 36 Big Industries Blockchain Could Transform. There is a one-paragraph synopsis for each industry. It barely scratches the surface. If you are involved with one of these sectors, comment below and we can share notes. If you have notes, share links below.
See it coming.
Banking
Messaging Apps
Hedge Funds
Voting
Internet Identity & DNS
Critical Infrastructure Security
Ride Sharing
Internet Advertising
Crypto Exchanges
Education and Academia
Car Leasing & Sales
Industrial IoT & Mesh Networking
Cloud Storage
Cloud Computing
Forecasting
Music/Entertainment Rights & IP
Stock Trading
Real Estate
Insurance
Healthcare
Supply Chain Management
Energy Management
Sports Management
Gift Cards & Loyalty Programs
Government & Public Records
Gun Tracking
Wills & Inheritances
Retail
Charity
Law Enforcement
Human Resources
Business & Corporate Governance
Credit Histories
3D Printing/Manufacturing
Crowdfunding
Commodity-Backed Currency
Check out my article on Steemit for more. The Innovation Curve (Technology Adoption Life Cycle)
Game Changer: Traditional Technology Adoption vs. Big-Bang Disruption
Beyond Bitcoin: The Blockchain Disruptions