On the corner grocer in a small town, my small town, there is a slot machine that allows you to buy Bitcoin
However, of the hundreds of cryptocurrencies that reside in your Gemini account, Bitcoin is the one with the highest use case. You can buy Teslas
“Bitcoin is the leading cryptocurrency because of its brand recognition, market capitalization and daily volume,” said Jose Arnaiz, CEO of Realverse in Valencia, Spain, an augmented reality solutions company that creates charts that used by boaters. “The problem with Bitcoin for the use case is that it’s not intended to support small, fast payments,” he said, adding that the Bitcoin Lightning Network can solve part of that problem. It has been established since 2016.
Other features, such as Lumens for the Stellar (
“Where is the ripple
Ethereum (ETH) is used to pay for transactions and other payments in the Ethereum blockchain. Investors bought ETH thinking they were investing in the future of the Ethereum blockchain – more users, more fees, and more demand for ETH.
Aside from the blockchain -based tokens used on specific networks, what are the cases of using these coins as they struggle in a world where central bank digital currencies threaten to blow it all away, including making it illegal, as China has done, with more or less success?
The recent explosion of the Terra Luna blockchain coin
For example, Arnaiz’s token, called Baybayon, is intended to be used on the SeaCoast mapping platform. The only way Coast token holders can buy a boat with it is if they exchange the Coast for fiat.
However, Arnaiz said the token can be used to secure reservations, restaurants, hotels and boats.
It is not known how many of these tokens were used to make these transactions. The company says it is working on direct payment agreements with companies that will allow their token to be used outside of the Seacoast ecosystem. These agreements will expand the services already offered by their investment partners Bitnovo and OK Mobility in various coastal countries. In terms of ports, they told me that their goal is for some 180 ports in Spain and Portugal, operated by one of their partners, to allow docking fees on their cryptocurrency. They said they would expand to other parts of the Mediterranean and Caribbean.
The platform is everything. The ecosystem is everything. This is only the case in use, with the exception of Bitcoin and some notable examples such as real estate in Dubai and Miami.
taking an avalanche
Why would anyone want AVAX if they don’t use Avalanche? Because it’s an investment, and that’s it.
“The reality of today’s evolving blockchain technology is that monetizing data through services for fiat has gone even further and has become tokenization,” Seynat said. “You buy the token to manage a specific project or ecosystem because that blockchain is growing and users want or need the token to do business there no matter what.”
Chung Dao, co-founder and CEO of Oraichain, a scalable Web3 DApps solution based in Vietnam, said many existing blockchain tokens offer “little outside of their ecosystem.”
The rise of decentralized finance has given some of these new coins additional use and value over the past two years by allowing users to bet and claim prizes (or produce payouts) for holding coins.
“The rise of blockchain scaling solutions has become a central aspect of the DeFi ecosystem,” he said of a use case for tokens related to the blockchain project. “Many blockchain groups and communities are creating technology solutions that give users more value and more functionality outside of their platform. Other platforms have become more interoperable, forming a network where many blockchains can communicate, ”he said, naming one called Cosmos.
Other use cases are, of course, metaverse platforms.
MANA is the native landmark of Decentraland (
“It’s no surprise that MANA’s primary function is to power in-game purchases, but I can suggest a few other tools for this,” said Rafaeul Zeitunian, co-founder and CSO of Grand Time in London. They pay for Grand Time as a “gig economy marketplace” where you get paid with their cryptocurrency (GRAND), which can be exchanged for the more liquid Polygon (
It seems, at present, that the only real use case for cryptocurrency is the new investment vehicle. These coins have become a way of investing in tech start-ups that few investors understand or even use. But if exchanges like market leader Coinbase serve as an example, treating these tokens as “securities” – a new type of stock – is the only real use case, for now.
“Going forward, I see Bitcoin becoming more of a store of value than a means of payment,” Dao said. “I think businesses and corporations will add Bitcoin to their balances rather than spend it on their costs. The rise of the dollar could be the ideal replacement for Bitcoin as a means of payment due to stability, dollar -like structure and speed of transactions, ”he said.“ Around the world, many crypto workers are slowly accepting the USDT for payment. This could flood into more traditional industries.
“Traditional finance has taken decades to change what it is today,” Ismail said. From the high-octane, high-risk/reward era of equity and debt markets in the 1980s, 1990s and early 2000s to the dot-com meltdown, the Enron scandal and In the 2008 financial crisis, regulators acted to protect investors by creating new standards for issuers and market participants such as investment banks and brokers to follow. These standards and rules protect the traditional financial ecosystem.
“The crypto industry won’t take decades to mature, but I think it’s getting there faster than traditional finance,” Ismail said.
Regulators have already begun to define frameworks and rules of engagement for companies and projects. Clearly much more is needed, especially with DeFi. In the Luna debacle, there were promises of returns that the traditional securities regulator did not allow.
“Proper regulation that protects the interests of token users and investors ultimately ensures wider adoption of crypto and more real -world use cases,” Ismail said. “It’s going to be the most important.”
*The author of this article owns Bitcoin, Decentraland, Lumens and Polkadot