Story image

How blockchain can foster initiative

The digital revolution has brought forth new paradigms in fields such as politics, retail, and entertainment. But today, it’s the online community that evolves more than any other sector and industry.

Competition and dishonesty are more prevalent now because of the Internet. Several online platforms profit from the unfair use of services. Content creators make use of clickbait to dupe possible audiences into accessing their website.

In turn, they maximise traffic and gain ad impressions. Other Internet users install ad blockers to dodge invasive ads. What’s even more common on the Internet these days is piracy. Millions of consumers worldwide would rather resort to piracy to avoid fees for services and products.

So, is there really no way of reshaping the online community or our entire economy?

The Power of Blockchain Tech

Blockchain, the technology behind cryptocurrencies like Bitcoin, is our best chance of promoting collaboration and the fair use of each other’s services. It provides a solution for aligning all parties’ interests.

In blockchain, a dispersed network of stakeholders takes over the previous owners of such services. 

These providers and users not only own but maintain the services that are powered by the blockchain. They also get to share the profits that are produced by the services.

How Blockchain Promotes Initiative

Nowadays, several companies are trying to learn more about this concept and how they can use it to develop platforms that value everyone’s interests.

Take Papyrus for instance. It is a blockchain company that seeks to reshape the landscape of digital advertising, which is best known for the endemic animosity between all parties. 

The company uses smart contracts to create a fair and transparent environment where users, publishers, and the advertisers can do business.

As mentioned, all parties can benefit from this kind of digital advertising platform. As it eliminates intermediary costs, advertisers don’t have to spend a lot and publishers get to earn more. 

The transparency of the blockchain also ensures that both publishers and advertisers can determine all the ads that are displayed and how the dividends must be distributed.

Similar strides are being made in other sectors, one of which is healthcare.

This is another example of how both service providers and users can profit from using the same platform.​

As blockchain technology continues to develop, new domains and industries will emerge with the very principles that this tech seeks to promote. 

When we see more companies embracing community and co-operation, we should have a more productive economy, one that values collaboration. 

Centralised systems are unable to create an environment that upholds honesty and cooperation, but blockchain might one day make these values mainstream. Eventually, it should reshape the entire economy and even challenge long-standing structures of capitalism.

Article by Dentacoin Foundation communications manager Donika Kraeva

DDN completes Nexenta acquisition
DDN holds a suite of products, solutions, and services that aim to enable AI and multi-cloud.
Veeam joins the ranks of $1bil-revenue software companies
It’s also marked a milestone of 350,000 customers and outlined how it will begin the next stage of its growth.
Veeam enables secondary storage solutions with technology partner program
Veeam has worked with its strategic technology alliance partners to provide flexible deployment options for customers that have continually led to tighter levels of integration.
Veeam Availability Orchestrator update aims to democratise DR
The ability to automatically test, document and reliably recover entire sites, as well as individual workloads from backups in a completely orchestrated way lowers the total cost of ownership (TCO) of DR.
Nuix eyes legal sector as eDiscovery demand skyrockets
eDiscovery must encompass so much more than email and documents. If you haven’t looked at text messages and online chats, digital images, mobile devices, data in the cloud and social media, you’re not getting the whole story.
New ACS report reveals challenges ahead for blockchain
“Blockchain has some way to go before it becomes a mainstream technology."
Gen Z confidence in the economy is on the decline
Businesses need to work hard to improve their reputations.
Dell EMC launches interactive AI Experience Zones
The AI Experience Zones are designed to educate visitors about how to start, identify, and implement an AI project.