Top industries #Ethereum is in the process of disrupting
1. Banking
Moving $$ around the world is a logistical nightmare for even banks themselves
A simple transfer has to bypass a complex system of intermediaries before reaching a destination
The whole process is inefficient, and people are racing towards a better solution
Moving $$ around the world is a logistical nightmare for even banks themselves
A simple transfer has to bypass a complex system of intermediaries before reaching a destination
The whole process is inefficient, and people are racing towards a better solution
https://twitter.com/CroissantEth/status/1403408346049302538
2. Art/Collectibles
The art industry has already begun adopting blockchain & tokenization as a way to increase access to the art market & reduce tx costs
NFT’s are used to certify ownership of art, allowing for artists to create a unique signature for each piece of art sold
The art industry has already begun adopting blockchain & tokenization as a way to increase access to the art market & reduce tx costs
NFT’s are used to certify ownership of art, allowing for artists to create a unique signature for each piece of art sold
3. Gaming
NFT’s have potential to massively disrupt the gaming system as we know it
Unlike the current scenario where you don’t really “own” your in game purchases, NFT’s “prove” ownership of digital assets, & makes them easily transferable among the entire ecosystem
NFT’s have potential to massively disrupt the gaming system as we know it
Unlike the current scenario where you don’t really “own” your in game purchases, NFT’s “prove” ownership of digital assets, & makes them easily transferable among the entire ecosystem
4. Music
The music industry is littered with greedy record companies soaking up massive amounts of sales from customers & only distributing a tiny amount to creators
Using the blockchain, artists can find new ways to interact with their fans, & get paid from them directly
The music industry is littered with greedy record companies soaking up massive amounts of sales from customers & only distributing a tiny amount to creators
Using the blockchain, artists can find new ways to interact with their fans, & get paid from them directly
5. Supply chain
With #ETH, txs can be stored in a permanent decentralized record, & monitored securely & transparently
This can greatly reduce time delays and human mistakes. It can also be used to monitor costs, labour, & even waste/emissions at every point of the supply chain
With #ETH, txs can be stored in a permanent decentralized record, & monitored securely & transparently
This can greatly reduce time delays and human mistakes. It can also be used to monitor costs, labour, & even waste/emissions at every point of the supply chain
6. Forecasting/Predicition markets
#Ethereum is set to change the entire approach to research, consulting, analysis, & forecasting.
Such technologies allow for monitoring and placing bets on anything from sports, to stocks, to elections in a completely decentralized manner.
#Ethereum is set to change the entire approach to research, consulting, analysis, & forecasting.
Such technologies allow for monitoring and placing bets on anything from sports, to stocks, to elections in a completely decentralized manner.
7. Networking/IOT
Cloud services require vast computational resources & storage capacity, which can be inefficient when it comes to launching IoT products
Blockchain tech can help facilitate more decentralized cloud services, increasing connectivity, security, & comp power
Cloud services require vast computational resources & storage capacity, which can be inefficient when it comes to launching IoT products
Blockchain tech can help facilitate more decentralized cloud services, increasing connectivity, security, & comp power
8. Insurance
The insurance market is based on trust management
Blockchain is a new way in managing trust & can be used to verify any type of data in a contract
A large # of people either don’t have insurance or lack qualifications for it, & $ETH can act as an unbiased insurer
The insurance market is based on trust management
Blockchain is a new way in managing trust & can be used to verify any type of data in a contract
A large # of people either don’t have insurance or lack qualifications for it, & $ETH can act as an unbiased insurer
9. Storage
Data on a centralized server is inherently vulnerable to hacking, data loss, or human error.
By decentralizing the storage of information, blockchain tech prevents a hacker from gaining access to all info at once, creating a more robust & sound ecosystem for data
Data on a centralized server is inherently vulnerable to hacking, data loss, or human error.
By decentralizing the storage of information, blockchain tech prevents a hacker from gaining access to all info at once, creating a more robust & sound ecosystem for data
10. Charity
Common complaints in the charity space include inefficiency & corruption, which prevents money reaching those meant to have it
#ETH provides those making donations the ability to precisely track where donations go, when they arrived, & whose hands they ended up in
Common complaints in the charity space include inefficiency & corruption, which prevents money reaching those meant to have it
#ETH provides those making donations the ability to precisely track where donations go, when they arrived, & whose hands they ended up in
11. Voting
Elections require authentication of voters’ identity, secure record keeping to track votes, & trusted tallies to determine the winner
Using #ETH, votes can be captured as transactions on a blockchain, and governments and voters would have a verifiable audit trail.
Elections require authentication of voters’ identity, secure record keeping to track votes, & trusted tallies to determine the winner
Using #ETH, votes can be captured as transactions on a blockchain, and governments and voters would have a verifiable audit trail.
12. Governance
Government systems are often slow, opaque, and prone to corruption.
Through the use of DAO’s, #ETH can significantly reduce bureaucracy, increase security, efficiency, & transparency for corporations
Government systems are often slow, opaque, and prone to corruption.
Through the use of DAO’s, #ETH can significantly reduce bureaucracy, increase security, efficiency, & transparency for corporations
13. Health
Use of #ETH could allow hospitals & others in the healthcare value chain to share access to their networks without compromising data security & integrity
Better data collaboration could mean more accurate diagnoses, more effective treatments, & cost effective care
Use of #ETH could allow hospitals & others in the healthcare value chain to share access to their networks without compromising data security & integrity
Better data collaboration could mean more accurate diagnoses, more effective treatments, & cost effective care
14. Energy management
Energy management has been a highly centralized industry for a long time.
Energy producers cannot buy it directly from each other and have to go through a private intermediary
However, #ETH allows for a global Peer-To-Peer energy marketplace
Energy management has been a highly centralized industry for a long time.
Energy producers cannot buy it directly from each other and have to go through a private intermediary
However, #ETH allows for a global Peer-To-Peer energy marketplace
15. Lending/Borrowing
Traditional banks & lenders underwrite loans based on a system of credit reporting
#Eth opens up the possibility of P2P loans, complex programmed loans, & a faster & more fair process in general
The top 5 banks in the US control $3.7T worth of lending
Traditional banks & lenders underwrite loans based on a system of credit reporting
#Eth opens up the possibility of P2P loans, complex programmed loans, & a faster & more fair process in general
The top 5 banks in the US control $3.7T worth of lending
16. Digital ID
Banks can spend up to 3 months executing KYC proceedings
Apart from time & effort, complying with KYC rules costs banks money (est $500m/year).
Using blockchain for KYC could reduce requirements for banks by 10%, equating to cost savings of up to $160M annually
Banks can spend up to 3 months executing KYC proceedings
Apart from time & effort, complying with KYC rules costs banks money (est $500m/year).
Using blockchain for KYC could reduce requirements for banks by 10%, equating to cost savings of up to $160M annually
17. Payments
While crypto is a long way from replacing fiat currencies when it comes to payments, the last couple of years have seen significant upward growth in tx volume for both $BTC & $ETH.
In fact $ETH became the first to settle $1T in tx’s in one calendar year (2020)
While crypto is a long way from replacing fiat currencies when it comes to payments, the last couple of years have seen significant upward growth in tx volume for both $BTC & $ETH.
In fact $ETH became the first to settle $1T in tx’s in one calendar year (2020)
18. Crowdfunding
“ICO’s” are changing the way we think about how companies are financed
ICO’s occur globally & online, which allows an exponentially higher # of investors
Filecoin, (raised $257m), & EOS ($4B) are excellent examples of the powers of this new fundraising model
“ICO’s” are changing the way we think about how companies are financed
ICO’s occur globally & online, which allows an exponentially higher # of investors
Filecoin, (raised $257m), & EOS ($4B) are excellent examples of the powers of this new fundraising model
19. Advertising
Transactions around the advertising space are being replaced by programmatic ad methods
Utilizing the blockchain, value can be ascribed to advertising audiences through targeted actions, which returns purchasing power back to users.
Transactions around the advertising space are being replaced by programmatic ad methods
Utilizing the blockchain, value can be ascribed to advertising audiences through targeted actions, which returns purchasing power back to users.
20. Augmented reality
AR is growing at a rapid rate, & has garnered the attention & massive amounts of research funding from the some of the largest corporations in existence
In a augmented reality, a digital currency such as $ETH will be most suitable for the transfer of value
AR is growing at a rapid rate, & has garnered the attention & massive amounts of research funding from the some of the largest corporations in existence
In a augmented reality, a digital currency such as $ETH will be most suitable for the transfer of value
21. Internet of value
#ETH is leading the way into the internet of value, a not too far away future where all forms of value are digitized & tokenized, freely transferable among a global network of participants without the need of a middleman or other third parties.
#ETH is leading the way into the internet of value, a not too far away future where all forms of value are digitized & tokenized, freely transferable among a global network of participants without the need of a middleman or other third parties.
22. Securities
Financial markets track ownership through a complex chain of brokers, banks, & exchanges
These have been built on an outdated system of paper ownership that is slow & prone to failure
Moving assets onto the blockchain could save an estimated $24B per year
Financial markets track ownership through a complex chain of brokers, banks, & exchanges
These have been built on an outdated system of paper ownership that is slow & prone to failure
Moving assets onto the blockchain could save an estimated $24B per year
23. Trade finance
With #ETH smart contracts, payments between importers & exporters can take place in tokenized form contingent upon delivery or receipt of goods
Industries can set up rules that ensure automatic payments and cut out the possibility of mismanaging funds
With #ETH smart contracts, payments between importers & exporters can take place in tokenized form contingent upon delivery or receipt of goods
Industries can set up rules that ensure automatic payments and cut out the possibility of mismanaging funds
24. Real Estate
Real Estate has been primarily concerned with listings & connecting buyers & sellers
However, the blockchain introduces new ways to trade, enabling online marketplaces & even fractionalized ownership to support Real Estate transactions more comprehensively.
Real Estate has been primarily concerned with listings & connecting buyers & sellers
However, the blockchain introduces new ways to trade, enabling online marketplaces & even fractionalized ownership to support Real Estate transactions more comprehensively.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
