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Let's hear your hypothetical blockchain use-cases.
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Hi friends.

In order for blockchain and cryptocurrency to be anything more than a momentary blip on the radar, at some point we will need to see societal adoption. I am curious to hear your ideas as to how you think this tech will materialize in a way more accessible to the every man.

I want to have this conversation because a lot of people seem to run out of steam when pressed on the benefits of blockchain and cryptocurrency in real life (non-internet) conversations. This leaves our friends and family confused, and concerned that we might have lost our minds chasing magic internet money. It is my hope that you will read something here that I or someone else contributes, and you'll use it as a talking point in an in person conversation.

Here are some potential use cases in my head:

1) Replacing cookies with tokens to authenticate sign-on sessions

A cookie is a tracker left on your device by a website, so that it can recognize you - or things about you - when you visit again. Users concerned with privacy will occasionally clear cookies, or at least be selective in which cookies they allow to track them.

I imagine a scenario where a website creates a wallet for a new user upon registration. Inside of this wallet is a token that represents the website and user registration details. After that, visiting the website involves connecting the wallet and checking that the active session is associated with a properly registered token. Since each user has a unique wallet (and a unique public/private key) - this confirms the identity of the end user and the experience can be tailored to them.

2) NFT's replacing sporting event/entertainment venue tickets/purchase receipts.

Purchasing tickets online can be a nightmare due to the prevalence of automated bots and resellers. Events have been known to be sold out within minutes, largely in part to the sale of tickets to bots who then resell the tickets for higher prices. There is also a black market (scalpers) of people trying to sell potentially fake tickets outside of the gate.

What is an NFT? The running joke on the internet is that NFT's are an expensive JPG. However anything with a supply of only 1 is an NFT. Having a supply equal to 1 is what makes it "Non Fungible." For contrast, USD is fungible. There is no difference between the USD in my hand and the USD in my wallet. They all make up the circulating supply and are interchangeable - fungible.

A sporting event may have thousands of tickets for sale and thus a supply not equal to one, however if we shift our thinking a bit: A ticket for an Atlanta Braves game on 10/31 sold to John Smith at 1:00 PM EST DOES have a supply = 1. A sold ticket is a unique, non fungible, token.

I could see teams selling their tickets as NFT's which are then checked upon admission. If these tickets are resold, its just a matter of transferring it to another attendee's wallet and it can then be verified at the gate. While overall I bend toward being anti KYC - KYC measures could be implemented in these entertainment events - and that requirement alone would mean that each wallet that holds an NFT ticket is owned by a real human - not a robot.

Following this logic, a receipt you are given after a grocery store transaction is ALREADY an NFT. It's the only one like it that exists - a supply of 1. A grocery store receipt is a physical representation of a non fungible token. Consider explaining it like this to your friends who criticize NFT's as being a scam.

3) Blockchain for medical record keeping

Medical records follow the patient for life from provider to provider. A holistic picture of your treatment and health over the years is vital to giving you proper care. These medical records are incredibly private, and the information within them is bound by privacy law. This makes them a target for hackers, or at the very least creates risk by having such important documents unencrypted and centralized.

These medical records could be hashed, decentralized, and decrypted only by the patient's private key - which the patient is the only one in possession of. The patient can make decisions as to whom they share this information with - but this would again mitigate the risk of sensitive information falling into the wrong hands.

I could go all day, I'll give someone else a turn.

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3 years ago