3 ways ledger technology is changing your industry | Tech News
Presented by UUNIO
One interesting aspect of the buzz about blockchain or ledger technology, compared to big data, for example, is that it is tangible enough to directly impact nearly every industry in a meaningful and explainable way. Many investors and entrepreneurs are examining how they can find the next big use case for blockchain, and even established corporates are intrigued about how they can leverage the technology to stay ahead of the pack or at least not be left behind.
It is therefore useful for anyone (especially those working in tech) to get a handle of the chief areas that crypto (or blockchain, or whatever you want to call this new movement) is making a difference and is being used by companies to streamline or invent whole new business processes or value propositions. Here we’ll outline some of them and use the case of a soon-to-be-released crypto project, UUNIO, to illustrate how this plays out.
Dynamic #1: Decentralization
Decentralization has become something of a buzzword in technology with the rise of crypto, but in reality, this is nothing new: technology in general is a force for decentralization. Consider extremely popular platforms of recent years like Uber, which brings a level of decentralization to both taxis and deliveries, or YouTube, which essentially provides a TV platform to anyone with an internet connection and a camera.
This expands the market of providers and customers immensely. In reality, though, this is only quasi-decentralization; decentralization of parts of the value chain but not it all.
To use the example of UUNIO we mentioned, they target complete decentralization. UUNIO wants to decentralize the income flows pertaining to social media content: Instead of the likes of Facebook being the only real beneficiaries of the content that is generated by users every day on their site, UUNIO are developing a truly decentralized platform where content creators can be rewarded for what they publish on various social media sites.
Dynamic #2: Security
Blockchains offer a degree of certainty that is almost impossible in conventional tech paradigms. This can have an indirect but substantial impact on security concerns of all descriptions. It all but eliminates fraud if used well, and stops double spending and chargebacks. A decentralized ledger can serve as a source of truth that is all but impossible to manipulate, having many copies spread across the world on participating nodes.
UUNIO is also leveraging these concepts to make their platform deliver an added layer of security to content creation and communication. Their blockchain will act as an independent and immutable record for those that wish to use it, while also affording greater privacy controls to users. The recovery of the right to self-control occurs not only within individuals, but also within communities. Communities deviating from the large capital influence will contribute to the democratic development of the society.
Dynamic #3: Programmable value
The main currencies like Bitcoin and Ethereum are a new dawn for value transfer, enabling money to be programmed with rules and stipulations. This is also put into practice by UUNIO, who have designed a payment platform that allows content creators to be guaranteed payment based on their content’s performance by leveraging smart contracts.
Finding value in crypto
If the average company looked at their business processes they would undoubtedly find ways they might be able to leverage the main characteristics mentioned here to give themselves the edge in the market. It’s just a matter of recognizing that it’s time to see how the change is taking hold around you.
Connor Tack is CEO at UUNIO.
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