the basic concept of the Blockchain technology, decentralized organization is. So, an interaction infrastructure that can function without a Central middle-man like a Bank, government Agency, or Internet group. Why it is not necessarily the abolition of middle-men, the Internet of things promotes the Blockchain adaptation and and consumers can look forward to in the next few years, massively improved service offerings outside of Blockchain platforms.
By Sven Wagenknecht
30. August 2019BTC$9.597,56 1.41%part Facebook Twitter LinkedIn xing mail
The Blockchain-Disruption follows a simple pattern. Take existing concepts to the decentralization. So Blockchain Start-ups to convince the user of sites such as Airbnb, Uber or Facebook from their decentralized counterpart.
users should get the sovereignty over their data. Internet giants may not, so the Blockchain-Narrative, the data is no longer alone verify, collect, and monetize. This Re-decentralization, however, has a decisive disadvantage. She is currently over the Central Offered barely competitive. Blockchain protocols to come in terms of user-friendliness and network effect have been insufficient against the centralized competition. The corresponding tokens are used mainly to speculation.
If a Service is not convenient, he counts as one of no Chance
user-friendliness is sometimes more than data autonomy. For the majority, it is too tempting, on any platform and on the Facebook Login to log in to take care of instead of itself, the password management in the sense of decentralization.
That means If Blockchain platforms to gain more market share, then you need to also a consumer benefit that is immediately tangible. It is all about: convenience. Without a simple user experience, it is as a platform stand a chance, if you want to reach the broad mass of the population.
in Spite of the competitive disadvantage is not it also as a distributed platform is impossible to create a better user experience. More and more Blockchain protocols, develop better deals. Corresponding to this, the crypto-adaptation is increasing in width. Exactly forcing the Central platforms as well as traditional means for men to improve their Service. Your advantage may still be large, nevertheless, he is not uncatchable.
creates Why is the Blockchain, what is policy trying in vain
If the middle men don’t want to run the risk of losing their broad user base in the long term Blockchain Alternatives, then you need to allow for more data autonomy. Also, you need to offer better Service and your fees lower. Platform offers had a free field and maximum value creation, in terms of access to „their“ user data, you have now through a Blockchain, a competitive offer, which forces them to relent.
Without more privacy and participation it is with increasing user-friendliness of the Blockchain counterparts becoming more and more difficult to keep the Quasi-monopoly. While governments and States, associations such as the EU is more or less helpless, to limit the Power of the Internet giants, it is the new Blockchain-actors that can change the market conditions fundamentally.
On the way to the Market equilibrium: consumer weapon Blockchain
The increased competition leads to a bad means men are rejected, while existing optimized and new ones are created. It is estimated that 90 percent of all financial transactions are handled through middle men, could reduce this value over the next five years to 70 percent.
optimization of distributed applications, such as, for example, DeFi-platforms can reduce market inefficiencies, and existing market conditions, to optimize. Among other things, so money transfer service such as Western Union or Money Gram, can be forced to a maximum, better customer service and conditions. These old actors have no choice but to Orient your business significantly more benefit to the customer.
Immediately, so the consumer will benefit by increased competition and not by the direct use of Blockchain counterparts improved. Even more impressive, this shows that if traditional men self-adapting decentralized aspects of the Blockchain technology. That Facebook or Walmart are working on a crypto-currency, is a first sign of increased pressure of competition through the Blockchain, and a stronger mixing of centralized and decentralized structures.
To the Mix, it is Also Blockchain means men
If the crypto-idealism aside, it’s not going to be centralized or decentralized, but the best solution for a concrete Problem. This can lead to the need for itself in the native Blockchain Economy for the new middle men. An example of a Central Depositary, specializing in Blockchain Investments.
Basically, every human being has the ability to manage its Bitcoin or Security Token independently and without the middle man. However, not everyone wants to take full responsibility for it, or may not, it is simply, because it is not bound as an institutional Investor and legal requirements. For this reason, a new Central Depositary arising out of the crypto Economy, in which, for example, Finoa or Upvest from Germany. Specializing in the secure storage you can afford a centrally organised service in a decentralized functioning of the Economy.
Smart networking and the Internet of things, decentralized
to promote Whether a decentralized solution is better than a Central solution, depends on the environment. The best Blockchain Protocol does not provide any Benefit, if there is no meaningful interfaces to the outside world, or other System. Without a functioning Ecosystem, there are no commercially functioning of the Use Case.
A change in the Ecosystem in favor of decentralized solutions is characterized, among other things, by the emergence of Internet-enabled devices. The more distributed IoT devices are linked together, the more likely it is in need of infrastructure, which can represent this decentralized distribution. Due to the so-called Single Point of Failure, centralized infrastructures are at a disadvantage. Also, it needs the Blockchain infrastructure, the Smart Contracts and thus automated, automatic transactions allow.
it is precisely this circumstance leads to the fact that, in perspective, distributed applications are more in demand than Central. This is aabout not, per se, on the Blockchain technology itself, but to the external conditions, the change in favor of decentralized infrastructures.
New tools: Blockchain & decentralization
The Blockchain technology is a new tool in the large tool box of technologies. Your advantage is that you don’t offers consumers and businesses through its decentralization is a choice that previously existed.
the retail group Walmart Was forced so far, with credit card companies and banks to cooperate, it can set using the Blockchain technology, has now developed its own payment network. Instead of paying billions of dollars in transaction fees to MasterCard, & co., can develop, if the legislation allows it, Walmart is a private settlement system. So, it’s not only the consumers, but also to the traditional, centrally organized corporations, the men improve their Position as a middle-man due to a reduction in other funds.
This example shows that the process of decentralisation is being anything other than linear, and on various micro – and macro-levels. Apparent contradictions arise if Intermediaries want to carry out a decentralisation. A phenomenon in the digitalization of our Economy is becoming stronger to observe.
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group-crypto-currencies: According to Facebook, Walmart increases the pressure on the policy Walmart follow Facebook: Comes the next group currency? IOTA aims to create an international Standard of#decentralization#Internet of things#Walmart
