"Blockchain was built," says Riggs Eckelberry, president of the startup WaterChain, in an editorial by Forbes. He goes on to say that IBM will provide blockchain tools for easy implementation of dApp as well as supply chains.
His positive approach makes sense. As CEO of OriginClear, a company that works in the water treatment sector, Eckelberry would not have expanded into Blockchain-based WaterChain without a good reason. The new project of the President looks at crowdsourcing of funding for water cleaning projects.
Entities not educated
However, Eckelberry believes otherwise than cryptocurrencies, at least in their current state. It shares that companies are afraid of technology because of its precocious and uncertain state. The CEO says that while companies want to use cryptocurrencies, they want them to have a solid foundation. That and companies want regulation that surrounds digital resources. While these are sensible desires, the cryptography market simply is not in a state to provide them. The companies are not aware of this due to the lack of encryption:
"Yes, the cryptocurrencies are based on the blockchain, but the cryptography is very different – it's about money specifically.When I got it for the first time, I turned from the path of the corporate blockchain and focused instead on creating a better way for my sector to finance innovative projects, but I still wonder, why all the fear, uncertainty and doubt around cryptocurrencies? I think it's probably a lack of education. "
At the moment, there are no activities that are established and regulated. It's too early for this to happen. Even companies that complain about cryptography are not helping. They do not realize that regulated goods are all relatively new. The head of WaterChain illustrates this comparison by saying that "the most successful alternative currency in the world is the mile frequent flyer". In essence, digital resources represent value, and that value can be worth much more than air miles.
Frequent flyer miles represent a reward program. Customers feel valued and enjoy additional benefits in the use of a service. However, Eckelberry claims that these awards should be transferable. But who owns them? The company or the customer? Regardless of this, the blockchain can make it possible. In fact, the CEO believes that cryptography will create a completely new economy around this concept. One that has little to do with our current fiat industry.
Building a foundation
At the moment, there are over 2,000 coins in the encrypted market. They get even more every day. However, a ton of those coins is not doing anything. It does not matter, though, think Eckelberry:
"The last wave is the security-compliant token, which is offered on new security-compliant platforms like Coinbase, I think they will replace the weaker and unregulated ones and we will create a stronger encrypted ecosystem in general. it's what companies that consider a cryptocurrency strategy have to understand: while these currencies acquire traditional adoption, I think they will create a completely new economy.I think this capital pool could eventually reach the level deeper, for example, than Facebook or even deeper than billions of people involved.I think that companies that do not understand how to add financial encryption will miss out on a stream of revenue that can change the world. "
Eckelberry therefore claims that the cryptography market is in the process of being adopted, just like the blockchain market. Indeed, the blockchain industry has an expected value of $ 20 billion by 2024. However, cryptocurrencies have a value current market capitalization valued at $ 214 billion, and Bitcoin is half of it.
But "corporate America" does not care much about these statistics. Instead, they want credible projects with realistic use cases. "Comprehensive," says Eckelberry. Conforming to the seed means that there are more than enough decentralized applications on the market that make digital resources a "useful and less risky" investment. Continue the comparison, "a bit like Amazon's certified retailers – we trust them because Amazon says we can up to the transaction."