Next up in our Blockchain series, we have 5 must read articles on Blockchain from the last week or so.
Our intro into Blockchain outlined the definitions and thoughts on how it has the potential to change markets.
This week’s instalment starts to look into more specific use cases for Blockchain, so we can see how, as an infrastructure, it has the potential to change a huge range of industries.
The secondary ticketing market is such a perfect fit for Blockchain.
End to end transparency, use of smart contracts to state if and how a ticket can be sold on and the small guys stepping up to take on the big guys. This story has the lot.
Blockchain has the potential to completely take out ticket touts and scalpers and with the secondary ticket market being worth an estimated $8bn there is a lot of incentive to fix the issues.
Blockchain has the potential to fundamentally change many industries and the effects it will have on advertising and digital marketing will be vast.
With the rise of browsers blocking ads and the rise of ad-blockers as third party apps, Blockchain could sort everything. Only give the data that is relevant and that you want to give and only to reputable people. But there are likely to be clashes with the industry, here we have Brave, a new browser built with the use of Blockchain.
But of course, they need money, so they are looking to monetise their ad-blocker and also testing advertising via Blockchain.
So they are going to block ads, get paid to do so, but let some through if they get paid more to do so and they can also control the supply chain. This of course takes them onto controversial ground, for a start where does the publisher sit in all of this and how do they monetise their content and journalism?
Well, "Support your favorite sites with micropayments. Brave features blockchain-based tokens which can be used to reward content creators."
All hail Blockchain!
There is likely to be more on Basic Attention Tokens in the next couple of weeks, so stayed tuned.
The transparency and public nature of Blockchain is one of the most attractive elements, but it is unlikely big business and institutions are suddenly going to allow complete public transparency of their work. So there is likely to be a lot of disruption as a new balance is achieved between decentralised approaches and private walled approaches.
The big players pushing forward with Blockchain at the moment include IBM and Mastercard.
We mentioned IBM in our last update, here we have Mastercard applying for patents to manage "fractional reserves of blockchain currency."
This basically means Mastercard don’t have to hold all of the money, they can lend it, invest it etc. in exactly the same way as any bank with any recognised currency. The difference here is that we are talking about Bitcoin, not the Dollar or the Euro.
With big players pushing against a decentralised approach, we have Google partnering up with start-ups BlockApps and Digital Asset to allow Google Cloud customers to “explore ways they might use distributed ledger technology (DLT) frameworks“.
In other words, get the Google world developing decentralised apps.
And to finish up, we have talked a lot and will keep talking about how Blockchain could (will...?) change everything.
This is a simple and eloquent look 10 industries Blockchain is likely to disrupt and it doesn’t even include advertising!