With Bitcoin and crypto assets, most people assume their usage is limited to a form of digital currency. Nothing is further from the truth!
This misconception is probably due to the common use of the term “Cryptocurrencies”. Today, however, their use as digital currency is just one of dozens, if not hundreds, of usage cases.
Crypto assets and the underlying blockchain technology can be used for many things:
- Secure, private, verifiable identification
- Logistics and supply chain tracking and verification
- Immediate insurance claims settlement
- Title and ownership proof once-and-for-all
- Contract settlement for ANY transaction in a completely tamper-proof, transparent way
- Verification of authenticity for any goods, be it agricultural, commodity, or manufactured, from origin of destination.
- The ability to buy and settle data, artificial intelligence, unused computer storage or bandwidth quickly and cheaply
- The chance to “tokenize” anything of value, and freely trade it to anyone else in the world
So as you can see, we now have a system of communication and value transfer that can go from micro to macro, peer to peer, or machine to machine.
Truly, the sky is the limit!
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