How Blockchain Is Changing Business
Blockchain technology isn’t just about cryptocurrencies and NFTs. Imagine becoming a business owner through the blockchain! Imagine owning HISTORY!
Well, my crypto companion …
So far, this crypto education has revealed many exciting prospects in the digital world of decentralized finance.
Indeed, a simple cryptocurrency route seems like the shortest way to profit from blockchain technology … but cryptocurrencies are really just the tip of the iceberg.
Many people are talking about NFTs (Non-Fungible Tokens). This is a digital asset that is unique to the buyer.
Yes, it seems strange to own digitally something that can be easily copied by right-clicking, but these things are generating billions. A single digital art piece sold for over $ 30 million.
That’s why GaryVee, the crypto expert I mentioned a few days ago, is huge in NFTs. He says they are the future of technology, and he may be right … but he may be wrong too.
Why do I say one of the most prominent entrepreneurs could be wrong about NFTs?
After a little research, I think there are bigger opportunities than NFTs and cryptocurrencies …
And it is blockchain technology that opens the door.
Already saturated with the acronyms in this area, I’m about to throw you three more letters. DAO..
What is DAO? It stands for “Decentralized Autonomous Organization” and is basically a large online group of strangers, with or without anonymous members. In most cases, DAO members often do not know each other and are organized into aggregates, specifically centralized leadership and non-hierarchical aggregates.
These DAO groups usually have articles of association and interactions are governed by blockchain technology, including both financial transactions and member voting.
Basically, DAO allows you to start something similar to a listed company. The company can use its assets to buy things or create a business of their choice as long as they vote.
When I started researching crypto and blockchain, I came across this idea, but I wasn’t ready to explore it yet.
I’ve read that DAO offered to buy a building, which would have made a big difference in real estate ownership. Efforts to succeed will avoid the need for specific insurance due to the fact that buyers do not need to raise money for mortgages.