This graphic represents the majority of people's perspective of Bitcoin and the blockchain.
The majority want to know when to buy and sell it and how we can incorporate it into our lives (or better still profit from it). Trading doesn't help me to sleep at night, so the ideal should be to look at each cryptocurrency on its merits and stick with that view over the long term.
The best description that I have heard of identifying use cases for the blockchain is:
"If you can describe a use case without mentioning blockchain, that's probably a good start."
The blockchain is an enabler that will transform many aspects of life, business and transactions, however it is not the solution for everything. Often, a database will suffice.
The key 4 requirements of blockchain suitability are needs:
- To transport data
- For information to be immutable
- For the code behind it to be tamper resistant
- For the code to be executed
FYI, I like to think of myself as the 4th desk: "HOW to buy".
There are many newcomers to the marketplace who are not looking to buy or sell actively. They simply want to 'get in on it' and hold/invest for the long term, but are daunted by what still initially remains quite a complicated environment of exchanges, transfers, purchase and secure wallets.
Become Crypto Fluent.
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