Three scenarios of the Blockchain technology
The solutions and advantages that blockchain provides are recognised by the biggest companies. Blockchain brought a revolution of digital asset transfers. Anyone can transfer assets using blockchain at any given time, swiftly and for a very low cost. It makes sending, receiving and storing assets possible on a simple device without the involvement of a third party.
Blockchain-related developments are evolving in three directions.
Data digitisation: Data storage, authentification, identification and asset digitalisation. Where the given “asset” doesn’t have an actual value. It just “represents” a given information in a digital format (e.g. vehicle registration, mail tracking, personal data storage, etc).
Investments: primarily securities, new ways of fundraising (ICO-s), coin exchange trading, speculative assets, high risk and volatile products (The current coin/token market (85+% of the currently available coins or tokens are or will become such a product). The stored asset is self-sufficient, marketable and has a market value.
Its value is determined by market supply and demand. Its usability and manageability is not a major consideration. Storage, however, constitutes a high risk. Such products are primarily used for investment and speculation. The ability to pay and their use is often a secondary aspect.
Payments: alternative payment asset with price stabilization system. It is a medium of exchange. In order to achieve mainstream adoption the payment asset has to have a predictable value. Value is generally adjusted to one of the global currencies (USD, EUR and other fiat money). Furthermore, it is an extremely important feature that it should be easy to use. These products are mainly created for transfers and daily usage. Speculative and investment usage is not typical.
(The payment also includes fixed-value internal settlement units (e.g.: local money), point collectors, utility, bounty, club points, coupons etc…)
It is obvious that the “alternative” payment assets and solutions are able to take up a large percentage of the market even in a short time span. These solutions no longer need to be backed by a government or banks. In some cases they are backed by companies, communities and organisations. A measurable fraction of this new payment system market will be taken up by stablecoins because they are capable of functioning as traditional money.
