Blockchain: Out To Change Everything

in LeoFinance4 days ago (edited)

In physics, they have the Theory of Everything. That sets out to explain all that takes place in the Universe in a simply theory.

With Blockchain, we seek to change everything. This is the motivating factor for many involved in this industry. So while many are talking about Lambos and mooning, there are a core group that is dedicated to completely changing the world.

The vehicle is blockchain.


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Blockchain is a new data structure that opens up the possibility for entirely new industries. Our present system is known to be of little benefit to most, with a select few having a greater advantage over the rest.

This is something that we set to correct.

Whether it is finance, governance, data security, or voting, developers are seeking to create projects that severely alter this. It is something that might take 10 years or it could take 3 decades.

Nevertheless, it will happen.

One of the biggest problems we have is that those with resources can afford to take risks others cannot. This puts them in a very powerful position. The ability to "gamble" for a larger payoff offers flexibility that the majority do not have, at least not individually.

In competitive economic system, this inevitably results in inequality. With a larger financial cushion, one can afford the larger risk, albeit for a good opportunity, in search of a greater payout. Those without such resources find themselves having to pass on those situations, ceding the upside opportunity.

It goes a long way to explaining why the rich do indeed get richer. Elon Musk could lose $20 billion (10% of his net worth) and it would not affect his lifestyle in the least. Most people cannot afford to lose 10% of their salary without it adversely affecting them.

This not only applies to finance and markets. We see this same situation play out with companies, especially technology. The likes of Google and Facebook monopolize a large portion of the online advertising dollars. This allows them to pay for the best AI minds, thus generating even more advanced AI systems, furthering them from the competition. It also basically eliminates most threats to them.


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Blockchain seeks to change this. Under this scenario, the fat wallets are replaced with numbers, of individuals that is. Here we see the power of the masses looking to join together in an effort to counteract the efforts of the few. Whereas corporations have money, size, and personnel, blockchain has activism. This is a proven model for success, albeit without the financial component historically.

That, of course, all changed with cryptocurrency. Now, we have the ability to incentivize people to join the cause. Whether it is as a developer, users, or other interested parties, the idea of participating simply from an altruistic perspective is gone. We now have the ability to "open up our own wallets".

Like Big Tech, the world of blockchain can enhance the financial aspects simply by implementing the Network Effect. Whether you believe in Metcalfe's Law is not relevant. What does matter is the more heavily used a network, the greater the value.

This provides a significant financial lift, offering opportunities to expand even wider.

The idea of the Commons works, traditionally, on a small scale. Where it ran into problems was in scaling. Historic Commons consistently ran into problems when they left localized markets.

Blockchain coupled with cryptocurrency alters this. Here we have the ability to experiment with the idea of Commons while also scaling up. New structures such as DAOs are popping up, entities that are owned by nobody (or everyone) yet seek to serve the collective.

Their sole purpose is to benefit the ecosystem, thus each token holder.

On Hive, we are seeing some applications rolling out that are offering different approaches to social media. This is one area that the world is seeing how ill-served it is by having this controlled by major technology companies.

We are also witnessing the overt merging of social media along with finance. This is one of those areas that blockchain is radically changing. Presently, social media activities, for the most part, are not monetized for the individual's benefits. The platform is greatly enriched but the users suffer.

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Blockchain is going to alter this completely. The next few years should bring this concept to the forefront. Simply put, why spend time enriching someone else when you can do the same thing and enhance your own financial situation.

Of course, what is done from that point is the major question. Those who financially benefit, especially to a large degree, have the ability to further push the effort through their financial resources. Here we see the tables turned. Suddenly, those involved with blockchain have the resources to take on greater risks, to employ more expensive personnel. This will allow them to strive for bigger impact.

The digital world is fast, inexpensive, and exponential. This is a major benefit to the already established entities. While they have to change, the world of blockchain just develops. There is no tearing down before rebuilding. We simply just build.

It is still a David versus Goliath situation. Nevertheless, three decades ago, the Internet was not much of anything either. The power comes in the numbers. As more people join, this generates a great deal more activity. In a world of data, activity is key.

If more is done on decentralized applications, that means, by default, less is likely being done on the centralized counterparts.

This is akin to when something first goes digital. At first, most is still in analog form but, over time, more ends up in digital format. Information is a prime example of this.

For now, very little, relatively speaking, is done on blockchain. That is changing on a daily basis. We see more transactions on decentralized exchanges. The value of money involved in DeFi is increasing. More social media type opportunities exist for people to engage upon. New governance models (tokens) are rolled out and distributed.

In short, we are embarking upon a quest to change everything. Part of the reason why the world will be radically different in 10-15 years is because of blockchain and cryptocurrency. There is no industry that will avert being impacted by these technologies. As we couple them with AI, we will only see the benefits increase while the outcomes are accelerated.


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I have been saying for quite some time now that even if crypto fails (which I don't think it will), blockchain is here to stay. The use cases are just too vast and proven that you can't really deny the benefits of it anymore. Even the big companies were aware of that and had blockchain divisions before they actually started adding crypto currency to their spreadsheets.

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Crypto is to blockchain like Email was to the internet.

Decades later, in spite of many more communication avenues, email is still very popular.

The same, in my opinion, will happen with crypto. It will keep growing in use case, as people experiment and get innovative. That said, we will see other use cases for blockchain just like the Internet is a lot more than just email.

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That's a great way of thinking about it!

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Yeah. I think the analogy to the Internet really makes what is happening here a bit easier for many to understand.

They have a visual they understand which we can model. This is where people will be able to grasp how things are changing.

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Do you see a more equitable wealth distribution in blockchains? I guess we see some of this in a blockchain like Hive. But it was hard won, and not sure if there are many others out there like this. Usually the wealth distribution seems terrible.

One thing very much of interest to me is to create a governance system that is decoupled from wealth, but better than the traditional ballot voting in so-called democratic countries. I would like to see more experimenting in that area by blockchain communities.

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Over time, the wealth distribution is spreading out. The important thing is to look at the totality, not just a particular token. Even within Hive, the distribution of Hive, while better than many others, is still not great. Yet, if you look at the wealth tied to Hive, between LEO and SPORTs and all the others, and you see the wealth is spread out even further. How many LEO whales are HIVE whales?

I would say outside the Leofinance accounts, there are not any overlaps.

The same is true for other tokens.

Governance is being tied to stake/usage. We will see what innovations come out of the experiments with governance.

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I'm currently ripping the benefits of using blockchain technology. From this seemingly experimental project have been able to build a sizable portfolio for myself. Putting things into perspective, 90% of my income comes from interacting on a blockchain, who the rest is from my local economy. This is huge for those who find themselves in an economically improvised state, as they are not limited by geographical boundaries. Cryptocurrency is an extension of globalization.

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I think the point you allude to will become commonplace in the near future for many. As the network effect kicks off, there will be more value for people to accumulate. At the same time, we get a lot more opportunities showing up that can feed the decentralized animal.

It is all growing, and we have a piece in it. Activity, at least on this chain, is key.

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Many overlook blockchain when talking crypto. When you zoom out though you realize it was primarily about blockchain not crypto. Crypto solves individual problems, whereas blockchain s are revolutionizing society.

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As I stated in another comment @acesontop, crypto is to blockchain like email is to the internet.

It is highly important but does not tell the entire story. Perhaps it was a major story in 2001 but by 2011, a much smaller part.

Crypto is huge right now in terms of the overall on blockchain but might be a smaller percentage of the story in a decade.

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the third image didn't load correctly. Regarding the blockchain revolution: it's going to still be a challenge to distribute the wealth equally even though you say it will be plentiful but the earth almost 8 billion people means a lot distributing to do

I dont think the wealth will be spread equally, that is impossible. Nor should it. People are going to contribute more than others and some projects are going to enjoy greater success.

The key is to operate outside of centralized entities like giant corporations and governments to give everyone the opportunity to excel.

Look at what we see on here: how many people are taking the initiative to leave hundreds of comments a week? We know this is a way, especially on Leo, to get some tokens. Yet few are doing it.

That is just human nature and does not appear to be changing anytime soon.

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my wording was less than optimal. I was thinking more in the lines of equal opportunities for everybody

Yeah I think that is what we get.

WE see with Hive is there are many tribes/applications for people to get involved with. Some are whales in Leo while others are heavily into WEED or SPORTS.

The ones that succeed will benefit their major holders a great deal.

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I agree bro all crypto is based on blockchain and its blockchain that have connected the future of money and is accessible to everyone anytime anywhere

@taskmaster4450 While reading your post,I had a big smile on my face when I read this part....

"Like Big Tech, the world of blockchain can enhance the financial aspects simply by implementing the Network Effect. Whether you believe in Metcalfe's Law is not relevant. What does matter is the more heavily used a network, the greater the value."

What an intelligent writeup from you sir...

A way to quote is to use the > symbol followed by the text you want to quote.

It ends up looking like this:

Like Big Tech, the world of blockchain can enhance the financial aspects simply by implementing the Network Effect. Whether you believe in Metcalfe's Law is not relevant. What does matter is the more heavily used a network, the greater the value

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  • This is akin to when something first goes digital. At first, most is still in analog form but, over time, more ends up in digital format. Information is a prime example of this.*

What an excellent point and although I hadn't thought of it in these terms I totally agree. Great Article.

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  • This is akin to when something first goes digital. At first, most is still in analog form but, over time, more ends up in digital format. Information is a prime example of this.*

What an excellent point and although I hadn't thought of it in these terms I totally agree. Great Article.

I think the transparency of block chain is here to stay. I think the current economy and the unemployment situation is showing how bad our lifes can be disrupted. When Congress takes almost a year to pass a little bit of stimulus which doesn't even cover your costs during this period, people want to know exactly where their tax dollars are going.

In fact I think the entire election issue has pulled transparency to the forefront. Nobody disagrees that if there was a way to confirm there was no cheating that it shouldn't be implemented. So a transparent way for elections is what we should implement. Also our purchasing power has decreased so much that we need alternative sources of revenue and crypto is the way to go for this.

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Blockchain is truly the great equalizer. Just remember what happened to Goliath..:)

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Here in Brazil things are moving a litte bit "faster" in relation to blockchain technology and it's great to see this happening.

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