Yesterday we completed within the master (Applied Blockchain Master) that we manage Module 1 called Generic Blockchain. I would like to reflect on some of the issues that come up on the table by teachers, students and the current ecosystem.
We begin by feeling very proud of the enrollment we have achieved for this first course and we find the first proofthat Blockchain is not only for a few, or for a programmer profile. The vast majority of the profiles are of a very high technological level but also from careers in the chemical sector, a doctor and some enthusiasts who follow every day all the movements of the different projects. Therefore, we are correct that this digital revolution is penetrating different profiles, who see a job opportunity in integrating this technology into their work today.
Speaking about the documentation of module 1, from BlockImpulse emphasis on everything related to Blockchains. We start from the definition, the consensus algorithms, public, private … We explain different projects in a practical way, even invading the crypto market.
In the practical part we have the possibility to see how the different profiles from their home or work place see so different blockchain projects. Some bet on the classic, Bitcoin and Ethereum, others for the new possibilities like the project Cardano, others with a touch more committed to the environment and society with Ethichub, Agriledger, Giveth… And many other projects that even for teachers were unknown and really have a lot of potential (in addition to evaluating ICOs, DAOs, DAICOs, STOs …)
“It fascinates me to see so much talent with very high knowledge of the Blockchain ecosystem in all its aspects and with so many different points of view.”
Now I am going to discuss certain points in public, when we talk about projects, we study them and embark on the speculative market, token, prices, purchases, sales … We come to the different points:
- Most of the pure Blockchain projects try to enter the same market niche as Bitcoin, offering money exchange.
- Almost all are financed with their own Token, trying to assign it the label of “utility”.
- Most sell the token before starting the project itself and do not have any kind of “guarantee” towards the investor.
- A very large proportional part of investors is not interested in the project itself, only that the price of the purchased token goes up.
- Regulatory standards are still greener than the ecosystem itself.
Nothing new under the sun.
The conclusion we reached with this situation is that the market is regulating itself very quickly. The ICOs no longer give that profitability to investors and projects, now the fashion is in the STOs (security token) to be able to be under the regulation of some tax haven or some country that is friendly to cryptocurrencies.
We see how creating money from nothing to self-finance a project has a very disruptive, innovativepoint that has worked to offer a new global path. At the same time, we see how a really utility token does not make sense in most cases.
If I offer my own real utility token, with which to consume services or pay on my platform, I make the consumer do more steps than it would be to simply consume the same with the currencies with higher parity in exchange exchanges such as Bitcoin or Ethereum not to mention consuming it directly in FIAT. The process is actually slower and more expensive.
More and more coins are added to an unsustainable model, where most projects, even some of the big ones, begin to be abandoned by their own developers.
Exchanges that are closing due to new regulatory pressures, investor markets that ask for a certain layer of security both to the project and to the government validating element that gives it the go-ahead. Of course there will always be fraud, as has always happened.
Finally,we do believe in the Blockchain technological level and its capacity for digital and industrial change. Many use cases are already in operation, we will launch one ourselves in a few days, but many others are just sketches or ideas without much conceptualization behind. Blockchain is not good for everything, not all projects should carry it.
On the other hand, if we think that together with technology, smart contracts will take a new step of automation and will save money, personnel and time in many sectors.
In business and speculation, STOs have come to stay, it is the new paradigm. We can better than ever use tokens to well-devised traditional financing systems with which we benefit from the benefits of this system: Traceability, immutability, transparency, security, speed, comfort, global …It is the so-called token economy, it grows and grows and increasingly focuses more on what we all know, giving new opportunities and allowing businesses to be at the technological forefront using this technology effectively.
Returning to the Master, we begin module 2: Bitcoin, where we will test the network from many different points and we will see the scalability options taking advantage of the “hype” of the Bitcoin Cash fork and all the doubts it generates.
It would be great if you were encouraged to put your opinion on what is shown in this article. All the best!