In the beginning, Blockchain seemed to be all about Bitcoin, but the technology is growing rapidly beyond this case of 39 initial use. In fact, Blockchain quickly finds an implementation in unusual domains. One of these areas is the monetization of unused assets, such as Internet bandwidth and SMS services.
From Novelty to Opportunity
Helium's founder, Jason Cassidy, describes this evolution as one of the most beautiful. aspects of Blockchain technology. He notes that Blockchain Tech's ability to eliminate inefficiencies at all levels makes it stand out. The ability to put unallocated resources for useful purposes quickly becomes possible.
"If we look at the brief history of cryptocurrency, we can see that there are examples of Blockchains. [One such project] gives users of wallets computer resources to help find the causes of diseases, while [another] adopts a similar approach and applies it to scientific research. "
Cassidy explains that this trend will continue. Blockchain developers are discovering new ways to use resources by grouping them together to achieve a common, unified goal.
A typical example is the A2P SMS service market which boasts an expected $ 63 billion business turnover in 2017. Data-base services will soon offer the opportunity to individuals to sell their unused SMS to social networks and other businesses. They use it for SMS notifications, SMS-based two-factor authentication, automatic reservation confirmations, one-time passwords, and similar services. Contributing users will become important players and gain some of the huge revenue that exists in this market. In a sense, this Blockchain-based service could eventually create the first universal basic income.
Internet powered by the Blockchain
Michaels Vogel, CEO of Netcoins told Cointelegraph that it might be possible to create a brand new Internet built on Blockchain. Vogel notes that Kim Dotcom is working on something called the MegaNet, an alternative Internet that does not use traditional IP addresses and is significantly more secure because of its Blockchain backbone.
The interesting part of this idea is how unused the computing power (for example, your phone when it's not being used) would bring its storage and processing power to MegaNet. Vogel:
"I think there is a huge potential for other ideas to use the dormant computing power of the world and exploit it through the applications Blockchain. "
Jeremy Epstein, CEO of Never Stop Marketing explains that all this movement is aimed at improving the use of assets. According to Epstein, unused bandwidth is an asset and before there was no effective way to get compensation for it.
An inevitable development
The combination of Blockchain technology and crypto-economics makes such projects not only feasible, but inevitable.
Epstein notes that we will see this happening in any industry where assets are undervalued because they are underutilized. Entrepreneurs will find ways to use almost any excess resources on time. Empty shipping containers, cars traveling from city to city and even the upscale website areas on which people squat can now be exploited via Blockchain technology.
It's the power of decentralization. No matter who is free to join or leave as he pleases. This freedom of choice harmonizes well with a state of humanitarian spirit and we expect to see much more of this innovation in the future.