Why blockchain ? The promise of a reshaped economic paradigm. That’s what blockchain is all about, shaping a new paradigm through a wide-spread industralization of trust. We’ve experencied the industrialization of contents through the TCP/IP protocol and we are now going through a second revolution with blockchain.
But to shift the economic paradigm, blockchain needs applications with millions of users. Today the biggest application using a public blockchain is IDEX with around 10,000 users per day but if you know nothing about blockchain it’s nearly impossible to approach it. Oh and let us not forget cryptokitties.
All these applications running on public blockchains with some daily users are limited to a blockchain and cryptocurency educated public that knows what is a miner, what is a hash, what is a public/private key. But what about the 99% reamining of the world population ?
Blockchain can do more and better with a key objective in mind : Adoption. But how to achieve that ?
Digging into the blockchain, a lot of people found different applications revolutionizing diverse realms. There is also the creation of numerous different blockchains such as Ethereum, EOS or Litecoin just to name a few, that are trying to solve the main issues of the first generation of blockchain. Those blockchains are working on scalability, privacy, speed and interoperability.
But why are they working on this technology? What’s their vision and main goal while trying to build the perfect blockchain?
Almost no one knows everything about the TCP/IP Protocol, even employees at tech giants such as Google. This is the key regarding the adoption of blockchain. No one needs to know how blockchain works to use applications built on it. Even more, blockchain will be used once it won’t be “visible” in the applications. No mentions of plasma, sharding, sidechains,…
Although blockchain is an incredible technical tool, it must be hidden from the users to ease the experience and make it smooth. Using all the benefits of blockchain to add value to the product while making it a pleasant and simple experience for the end-user.
We all agree that Blockchain is a great tech, but an incredible product with no use is completely irrelevant at this stage. Let’s take a look at how cryptocurrencies and blockchain in broader way can improve and reshape existing industries.
So now, that is the challenge blockchain is facing “Go from just people being interested to real applications of real economic activity” as Vitalik Buterin stated.
It is crucial that everyone should focus on the concrete applications and benefits of blockchain. Blockchains are the support but still need applications to be built on top of it. There’s no point in creating blockchains that are more secure, more scalable and energy-efficient if no one uses it in the real economic world. Adding real value to the end-user and build applications is the main goal that everyone in the cryptospace is hard-working to achieve whether we are talking about blockchain founders such as Vitalik Buterin or crypto funds such as Polychain Capital whose CEO Olaf Carlson-Wee stated : “We believe today one of the major bottlenecks to cryptocurrency adoption is the lack of an easy-to-use interface for average people” or crypto evangelists talking about blockchain to everyone they are coming across when they have the chance.
The whole cryptospace is working toward the same ideal : make blockchain usable in the daily life. Blockchain will be used once we will even forget it’s there.
During the last two years, some of the first real applications popped up and gave true visibility to companies working in the blockchain sector. Let’s take for example PundiX with which you can use your cryptocurrencies to pay for your groceries. That’s the type of concrete use case of cryptocurrencies and blockchain that will push toward a faster adoption of this new technology. But still to spend cryptocurrencies, you must own some.
That’s our vision behind Universal Reward Protocol. We want to be part of this economic revolution that will bring blockchain to everyone, everywhere it can add value, may it be for the end user of for the actors positioned higher in the value chain. And all of this without any required knowledge about blockchain, may it be for the retailers, the brands or the shoppers.
URP is about delivering a concrete use case of cryptocurrencies and blockchain for shoppers without any required knwoledge about the technology behind. Our ambition is to make blockchain mainstream by making a simple application for the billions of shoppers around the world.
We, at URP, truly believe cryptocurrencies will become mainstream once concrete applications will be up, running and most of all used by a critical mass of people. To create this critical mass we need powerful blockchain-enabled applications which will improve the current services without any need to know what a blockchain is to use it.
The cryptospace does require efficient blockchains which can handle applications with millions of users but we are now in the need of those applications above all, otherwise our work will be pointless. Everybody in the space seems to be working with the adoption issue in the back of their mind and that’s why we are confident regarding a quick “mainstreamization” of blockchain. Anyway we are working tirelessly with this objective : adoption. Adoption. Adoption !
And one more time let us not forget that people do not need to know a single thing about blockchain to use it.
Cheers and let’s get this party started !