NFTs, DeFis and dApps - what are the next generation Blockchain use cases?

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NFTs, DeFis and dApps - what are the next generation Blockchain use cases?

Blockchain is a new frontier in the digital revolution and a way to build the new Internet of Value. It has become a global phenomenon in recent years, but it remains unclear just how far blockchain can go when so much of its potential hasn't been explored yet.
The conversation around blockchain has been going on for years now, and we're only starting to understand its full potential.
Taking into consideration current successful implementations such as:

  • dApps - applications running on a decentralized peer-to-peer network, often referred to as smart contracts;
  • DeFis - tools, open for anyone to use, that let users trade crypto-tokens, take out a loan, or cast a vote;
  • NFTs - a way of preserving the limited edition value of physical objects in the digital marketplace by creating an artificial scarcity.

What are the next-generation Blockchain use cases? And where to find clues?

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We have asked 2881 Experty community members questions related to "NFTs, DeFis and dApps - what are the next generation Blockchain use cases?". We have received many valuable replies, the best ones (based on Experty community feedback) you can read below.

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article avatarYudha Eka Saputra

Web Developer

What are the next generation Blockchain use cases?

I think, many country now showed interest on Blockchain technology. In my country Indonesia, the government now want to adopt CBDC (Central Bank Digital Currency) named Digital Rupiah. Not like other Blockchain technology, CBDC focused on economy and Central Bank/banking services. I think in the next year, CBDC will be booming. Combined with DeFi, make CBDC got more usecase beside banking services.

What is the best source to keep up to date with the latest cryptocurrency and blockchain industry developments?

Cointelegraph, Coingecko, Coinmarketcap

article avatarBenedict Patrick

Student

What are the next generation Blockchain use cases?

Considering the blockchain experience upon which certain platforms are built with. However,the next generation blockchain is that initiative which redistribute an effective top profiled security for users and certainly blockchain developers through certain laid down guide. More so,it can be described as a P2P decentralized network for secured interaction between users who adopt payment,sending and receiving of database information as well as transfer of assets across major cities.

What is the best source to keep up to date with the latest cryptocurrency and blockchain industry developments?

I think it should be developed with a simplified computerized programmable Algorithmic software.

article avatarHemjay Souhl

Crypto-enthusiast and freelancer

What are the next generation Blockchain use cases?

From my observation, blockchain tends to give a feeling of freedom to users. And what could be more important than user creating a world they've always imagined. Metaverse implementation would give users a deeper experience of what the universe has to offer, in a decentralised alternate world. I see this as an extension of the human senses. Blockchain would also be good in creating deeds as well.

What is the best source to keep up to date with the latest cryptocurrency and blockchain industry developments?

Medium

article avatarFredrich Eb

Blockchain and Crypto Project Consulting

What are the next generation Blockchain use cases?

The presentation of the question appears to cast a shade or two of confusion of what a 'dApp' really is. So, let's clear that up first before we go on to understand where we are headed in blockchain usecases. dApp stands for Decentralized Application or what I'd like to call, for the purpose of this write up, 'A Decentralized Userpoint' or, more aptly, 'A Decentralized Point-Of-Usage'. It goes without saying that any item or tool that helps us relate with (or express ourselves on) the blockchain can be referred to as a dApp. So, a DEX is a dApp, an Explorer is a dApp, so is a Coin or Token, and by extension, a Non-Fungible Token (NFT). Still in this same light, there are various categories of dApps depending on what they helps us achieve on (or with) the blockchain. There are Decentralized Finance (DeFi) dApps, Artificial Intelligence (AI) dApps, Machine Learning (ML) dApps, Wallet dApps, Gaming dApps, NFT dApps etc. And as in any other item or tool we use on planet earth, the use to which we put some basic dApps can overlapp to other areas, and form what I'd like to call "Composite dApps". Yes, we're heading for a 'Composite' future in blockchain applications. So, in trying to pin point the next big thing in the blockchain space, let's look out for that dApp that solves challenges in two or more aspects of our human existence as well as put more money in our pockets. Did I just mention 'DeFi' again? Well, yes, the dApp must include a good enough touch of finance for it to survive in the new paradigm that came with DeFi few months ago. As can be seen from this chart: https://postimg.cc/pm0nz4vw Smart money didn't take us seriously until DeFi broke out in 2020. Satoshi came out in the beginning with "Decentralized Peer-to-peer internet money", Ethereum extended that later on with Smart Contract and tokenization which could only take the Crypto industry to a max of $600B in market capitalization after 10 years of struggle. Then came DeFi dApps which weaved all those prior ideals and usecases into a tool that helped us make more money on top of our money on, even, rare compounded auto-pilot mode. This was what opened the floodgates that'd taken the cryptosphere to above $2T in less than 8 months. Here on out, therefore, any dApp that want to compete for user adoption in our crypto space must, in addition to being useful in one or more other industries, have a DeFi offering, and a good one at that. Sticking my neck out, I'd say the next big thing in blockchain is dApps with NFT+Gaming+DeFi offerings. And Twitter search remains my discovery channel of choice.

What is the best source to keep up to date with the latest cryptocurrency and blockchain industry developments?

Twitter search.

article avatarAkinpelu Isaiah

Public relation officer & Crypto Enthusiast

What are the next generation Blockchain use cases?

Putting into consideration the way blockchain has been developing over time through the incoporation of various inventions, this simply implies that the best use case of blockchain is yet to occur. About two years back, dapp was reigning, last year it was defi, this year it is NFT. This inconsistency connotes various mind blowing invention in blockchain in the nearest future.

What is the best source to keep up to date with the latest cryptocurrency and blockchain industry developments?

Experty.io

article avatarJuan Diego Gomez Peña

UX Researcher and Designer

What are the next generation Blockchain use cases?

Politics and governments applying technocracy as a fundamental basis for the constitution of the state figure. Traceability and immutability seem to be two characteristics that should be intrinsic in the mechanisms that fight against political corruption worldwide. Sensitive issues such as the presidential elections or the tax reforms proposed by the finance ministries are some of the processes that are most sensitive to human morals and to the individual interests of a few. With blockchain in these 2 processes, the risk of a corrupt output is almost nil. Supply chains find their analog with VeChain, whose ability to offer the truth about a product appears to be a traceability and originality solution that supply chains suffer globally. With the arrival of the NFTs, we have seen how some fine arts and digital art industries have managed to claim authorship over their work as well as a new commercial vector for their activities, which makes it possible for small and medium artists to share spaces with great artists of the medium

What is the best source to keep up to date with the latest cryptocurrency and blockchain industry developments?

It is difficult to choose just 1 because there are different media that provide information from different technologies, but if I have to choose 3 those would be: - coindesk - cointelegraph - reddit

article avatarMalik mudasir

self employed self department

What are the next generation Blockchain use cases?

Next generation blockchains are blockchains that are not even blockchains anymore in a practical sense, which allows them to go beyond the above mentioned restrictions that the common blockchain architecture brings. Thus, next generation blockchains are decentralized software architectures that allow near infinite scalability, have instant transactions, near infinite decentralization, no fees and only use 1 millionth the energy of Bitcoin.

What is the best source to keep up to date with the latest cryptocurrency and blockchain industry developments?

Crypto Twitter,CoinGecko,Project Website,News Outlets, Coinmarketcap, Medium

article avatarJohanan Orok

Engineering Technologist

What are the next generation Blockchain use cases?

The number one is Defi which brings about freedom of knowing that you are directly in charge of your money without third party interference like centralized banks which can decide to freeze your bank account without your consent. Staking can be done and you earn extra crypto. Nfts in my opinion will almost totally remove plagiarism knowing that original authours can always be traced and get the benefits from their contents. People can directly make payment to musicians , authors and artist through their without necessary passing throgh third party and beaureacracy of managers. I see the blockchain technology totally revolutionizing the music and arts industry via nfts. Decentralized social media preserves information and third party social media do not need to store people's data without their permission and even use them to make ads while the user gets no benefits

What is the best source to keep up to date with the latest cryptocurrency and blockchain industry developments?

Coinmarketcap gives great update, also social media groups like bitcoin talk, news on nomics , tellegram groups and youtube crypto news gives me great insight

article avatarGökhan Yiğit

Blockchain enthusiast

What are the next generation Blockchain use cases?

I think privacy NFTs. These must be custom NFTs. An NFT that can only appear on the network at the owner's request. Thus, people will be able to keep their memories of their private lives on the blockchain for life. Memories can be used on the network by tokenizing special moments. I think this will increase people's use of blockchain

What is the best source to keep up to date with the latest cryptocurrency and blockchain industry developments?

DappRadar, Decrypt, LunaDao(local)

article avatarTobi Micheal Olaitan

Manager / Crypto Passionate

What are the next generation Blockchain use cases?

1. I have noticed the integration of blockchain technology into banking system where crypto debit cards can be used at POS, stores, ATM, etc. To me that is impressive. 2. Multi sender payment: this allows bulky payment of addresses within few minutes. I see this been embraced by government to pay workers and citizens at large with ease. 3. NFTs are really rewarding intellectual properties and the use of Rocki app, CyberFM, etc. will reward artistes for every views and listens instantly. I call this financial freedom.

What is the best source to keep up to date with the latest cryptocurrency and blockchain industry developments?

Following blockchains and tokens on Medium. Subscribing to Newsletters (DAppRadar, BSC community, etc.). Joining Reddit crypto communities. Telegram communities.

Summary

The next generation of blockchain adoption is in real-world use cases. The blockchain revolution is coming.
Personal identity tokenization, gaming, and metaverse interconnectivity would be the first that comes to mind but there's a lot of ground to cover when it comes to decentralized systems. We're already seeing things such as:

  • fractional ownership in Real Estate is being done on Ethereum smart contracts, financial institutions like central banks adopt blockchain technology to storing data on private blockchains (blockchain solution is crucial when document timestamps are important for business processes, eg. legal contracts), it a key difference between old school archives (imagine the internal audit of thousands and thousands of binders) and private blockchain,
  • blockchain eliminates money laundering by recording transactions of digital assets, monetary transactions, and other virtual currencies - transaction record is visible on a public blockchain,
  • widespread adoption of distributed ledger technologies enables users to track their blockchain transactions (and even the entire network) in a verifiable and permanent way; blockchain data is safe yet visible for all network members, they can see when the transaction occurs, which blocks validate transactions, even they can check the previous block and what next is added to the chain,
  • more and more financial services using distributed ledger technology are integrating blockchain for private transactions, and digital asset transaction records between two parties efficiently.


There will be more applications using blockchain technology in the future but it's hard to predict exactly what they'll be.
According to Experty users' comments, the best source to keep up to date with cryptocurrency/blockchain industry developments is Twitter, Coingecko, Coinmarketcap, and Medium.

This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.

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