Gone Are The Days
There was once the narrative that Bitcoin and Crypto as a whole would fail and slowly sink into the ocean of nothingness. That narrative began to change in 2020 when disaster and calamity hit in the form of covid. Since the market rose from the lows of March 2020 the narrative has shifted significantly. Some of the biggest skeptics have become outspoken advocates of Bitcoin in particular. How does an asset that started at zero with zero funding and zero backing become the asset that everyone now wants to acquire? If you are new to the Crypto space, you may be unfamiliar with the humble beginnings of Bitcoin and the Crypto world in general. Bitcoin is not only here to stay but it is here to remodel an existing financial infrastructure and more. If you think that Bitcoin is only impacting the financial sector you may be in for a surprise.
The Future Is Tokenization
Tokenization became quite a trend back in the bull run of 2017. It was however extremely premature and largely made up of opportunists. The space has matured to some extent over the years. There will always be opportunists and scammers in every industry. Wherever there is opportunity there will simultaneously also be those seeking to exploit and manipulate it! This is just a reality that needs to be acknowledged and accepted, as it will never change. Regulations are seldom for the true benefit of the investor but eventually, they do actually aid in the sifting out of undesirables. If you look at the incentivized economy that we are currently so privileged to enjoy you will note that these opportunities exist due to tokenization. Projects and platforms are rewarding users in the form of their native token, which would otherwise be an impossible task. Platforms such as Read.cash and Noise.cash have an investment pool, which is rather unique and not really seen anywhere else. Publish0x has a type of sponsorship model which compensates for not having their own token.
There are however downsides to this approach. In essence, true growth is limited, as the pool is only so big. The more users join Publish0x, the less the current users are able to earn. Growth, therefore, has a ceiling, as well as an earning cap. Most users do not consider this dynamic because they are not looking at the project with a business-focused mindset. Projects such as Hive or Leofinance are uncapped due to a native token, which is actually in the hands of the users. If everyone on the platform chose to upvote your post you would generate a significant amount of income, as the only ceiling you will experience is your ability to impress your readers.
What About The Heavyweights?
The entities I have just highlighted are on the lighter side of the scale and very much still within the “Crypto World”. JP Morgan has their own blockchain-based digital coin for payments. Facebook has been trying to get it right for some time, along with other bigger companies such as Walmart. Crypto is no longer just about finance but also utility, which in many ways is intertwined with finance. Every business sector and niche has something to gain from blockchain adoption. For some, it is way more helpful and dynamic and has the ability to reshape and remodel certain industries. This is no longer an idea simply aligned to a store of value and value transfer.
Leveraging The Crypto World
I recently posted an article about a vegan project that has its own token. The app enables vegans to scout out vegan outlets and restaurants in their area. Users can earn the token in the form of rewards and loyalty points. The token is currently only available as an ERC20 token but I am sure that will be addressed in time, provided this initiative succeeds. This is a prime example of how a new industry can gain even more exposure and recognition by utilizing Crypto as a drawcard. In the 2020’s everyone enjoys earning free Crypto. You may find that people begin diversifying into the occasional vegan meal in order to build up a holding in yet another altcoin! There are many people like me who are always on the lookout for more ways to accumulate and gather free Crypto. This is at the heart of the incentivized economy. Rewarding users for their choices and loyalty. It’s a whole new way of doing business and legacy businesses that do not embrace this new chapter of commerce will ultimately be left behind in the not-so-distant future.
The world is in the midst of an economic and commercial shift. There is simply no denying it at this point. Bitcoin and Crypto have invaded too much of the current system to be undone now. Adjust or be left behind is the message of this article. Being the last through the door is never the best approach. Just as being first is often considered too risky, being last equally risky. The good news is that multiple big brands and names have already broken the ice. The risk is has been absorbed by these pioneers such as Michael Saylor and others. The race has indeed begun, don’t get left behind!