There is a need to understand the basis of blockchain technology, why it was put to birth and what it has always aimed to resolve. We have been in a system where everything has always been in the hands of the few. From finance, to business platforms, gaming and even social networks. It has been termed in general, the web2 pattern of operating. It has been this way for decades until the sudden emergence of decentralization thanks to blockchain technology when bitcoin was birthed.
web 3.0 was launched in the air to alter this old pattern operation. We all saw how bitcoin rose from nothing to the next big thing, I always love it when I remember these moments. I must say it will always remain a wonder to the financial system. A lot of coins and tokens were launched in the process. Though not all stood the test of time yet those with vision have continued to thrive.
Sometimes I am left to wonder why we only value tokens and coins always rising for us to make gains. I guess it is basically because of how cryptocurrency introduced itself to the market. You know bitcoin was realized when they saw it pumping. People were seeing it from a thin window, let's just say, summarizing it to be the new system of making money out of thin air. So as the case may be, blockchain technology was tied to virtual currencies one could invest and make money, period.
Why do you think there was a lot of market flop during the early days of this invention? We saw massive pump and dump projects. Shit coins were given out to investors who did not really understand how the entire system works. Money was lost and it was gained by those who played the prank or should I rightfully say, those who scammed. Over the years investors came to understand this tactic and started sitting or investing in projects that had reputations, a good thing indeed after years of project misunderstanding.
Yet I must say, till date a lot don't know what blockchain technology has to offer except to buy, hold and sell coins. Everybody wants to be millionaires overnight, making a lot unable to pay the needed attention to details. Everyone's mentality is bitcoin once pumped, what next is capable of replicating this?. Nevertheless, we have seen several crypto projects hitting winning ways. It's a good thing to make some bucks as you invest in this project yet I only wish we could see beyond quick market gains.
Have we for once sat down to see the streams of solutions the altcoin industries have to offer. Looking at how altcoin like ethereum give rooms for innovations. We should look at the area of web3,decentralized finance (defi), decentralized applications (dapps) gaming and more. Value has been brought to the masses, yet we perk it to a continuous bullish market for one time gains. We really need to take time and enlighten as many people as we can about the concept of cryptocurrency and what blockchain technology has to offer. It's beyond market price.
Borderless business
Personally I value borderless transactions over market price. You could in a few minutes to seconds send money to anyone around the world. From here, you can even do borderless business to earn more money rather than depend on market price. Even if coins were to be worth $1 dollar each, a borderless transaction is enough to make you rich if you know how to play the game. Adding to the advantage that middlemen are being cut off when talking of peer-to-peer transactions.
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I remember a few years ago when I met a friend who wanted to do business with me. You know I had to make some transactions to her to get a few things done for me to be enrolled. Since it was to be transacted to a foreign country, I reached out to the bank to get all this done. The frustration I went through is one that I daily give thanks to the introduction of cryptocurrency. In the end, I couldn't make that transaction and I lost that business opportunity, who knows whether it could have been a life changer. Think of how easy that would have been using cryptocurrency to make that transaction. Convenience, speed and affordability merged into a single system, wow! We really need to wake up.
Data control
If we know how valuable data is to this modern world we would thank the introduction of web3. I wrote an article on how lots of millionaires will emerge soon thanks to blockchain technology. You can go through,decentralization will create more millionaires through data ownership ,your comments will be appreciated. Handing over our data to third parties has been a long lasting risk we can now mitigate thanks to web3. Adding to that, we have seen how easy it is to make money through web3 social networks, you get paid for your time, efforts and involvement whereas the web 2.0 system has always been a different ball game. For you to even make some bucks on web2, you will have to do a lot of tasks and when the revenue comes, they pay you what they decide.
Game lovers can now get value for all their gaming involvements. Why spend hours on web2 games to only profit the developers, come on, do we need a huge market price to accept this suitable offer?. Decentralized Finance has emerged creating a system for lending and borrowing which cuts off the unnecessary middle men. You know how much centralized banks pay you for investing with them and also how much they demand from you to get a loan from them. When I make this calculations, I always end up sighing, seeing the amount of unfairness in the system.
To conclude, let me add, we need to get our entire focus off market price of tokens and coins and look beyond a lot of other opportunities that is yet to be leveraged in the decentralized system, bitcoin has always only been seen as virtual money and we have seen how the much pursue of gains has seen bitcoin falling into the hands of centralized systems. There is nothing wrong in the market growth of cryptocurrencies yet we should know a lot can still be achieved even in its absence. Value should be centered on the a lot it has to offer rather than market price or all I see may be a continuous pump and dump to frustrate investors.