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/The Crossing Of The Streams For Cryptocurrency, Blockchain, Mobile, AR And AI /
The big question used to be, what had crypto got in common with other tech? Today’s question for developers and business is, how we can jam all these technologies together to benefit the company and our customers or users.
Since the rise of Bitcoin, Ethereum, Ripple, and hundreds of other coins, crypto has lived in its own bubble. One of ICOs, far-flung currency exchanges, GPU farms, mystery hacks and endless hype and mired by get-rich-quick scams.
To work alongside the regular IT world, cryptocurrency and blockchain need to prove their worth. Much credit will come from solutions to common technology issues. To that end, many crypto businesses aren’t sitting around hoping to be the next Bitcoin, but seek ways to add business value, while big IT brands are researching bolting blockchain into their products.
The New Face Of Crypto
Recently, Electroneum launched the first mobile miner, creating a user-friendly way for anyone to virtually “mine” a currency on an Android device. There’s no actual processing on the device, and there’s no need for a ludicrously priced GPU. With 140,000 users so far, the company is waiting for Apple to approve an iOS version before it pushes out new products and partnerships.
Going one step further, Worldopoly combines an augmented reality mobile game and a new cryptocurrency that people can collect playing AR monopoly. Users buy buildings on real-world streets and collect “rent” from passers-by, but need to collect it within a timely manner, otherwise, other players can pick it up. It sounds like a giant cross between Pac-Man and Monopoly and with a coin pre-sale currently underway, might be of interest to developers looking to mix game and currency.
A Chatbot & Crypto Party
These are just early examples of an arcane and complex technology being made accessible to the masses. Another popular technology that is having a huge business impact is chatbots, with customer service agents appearing in all types of business from the hospitality industry to e-commerce.
Blockchain can help banks and other finance type businesses validate and provide proof of bot-initiated transactions and agreements. Say someone agrees to a loan via a bot or confirms they have read the terms and conditions, a blockchain entry can provide immutable proof to protect the business.
Bots can also help bitcoin companies get their message across, help customers perform transactions and teach them about the currencies. Popular cloud-based AI chatbot service SnatchBot has a working template for crypto businesses to use as a basis for their own bots.
What Are The Blockchain Benefits?
Between them, cryptocurrencies and blockchain can provide huge benefit to businesses. The right currency can speed up trading and transfers, or help a business reach new markets. Blockchain has huge implications and is already growing in use among logistics and cargo businesses, identifying and proving the validity of stock.
For a new business, models to focus on are any market that can use blockchain as a foundation for information, records management or identity recognition. There are also those that rely on digital assets, or have an old-fashioned business model that can be improved and disrupted.
Any tech business providing a product that hits the sweet spot of usability, utility and uniqueness could be the next business unicorn. Its founder could also be the next Bezos or Musk, as the massive returns and value generated would create many billionaires from the business.
When Will Business Switch On To Crypto & Blockchain?
Down the chain, businesses using these products will be looking for clear use cases and functionality. They need deployment that does not suck their business IT into the world of current crypto murkiness or rely on a ludicrously complex mix of off-premises services.
For now, many business leaders consider crypto and blockchain as remaining mired in the darker waters of business, offering dubious claims, slow-response times and high risk, But they are also aware of the benefits to come once the technology is commoditised, cloud-friendly and the current risks have been removed.
The IT and infrastructure giants like IBM, Microsoft and others, are rapidly building BC and crypto products, and are ready to sell the benefits of blockchain. Any startup looking to compete needs that unique feature and vertical focus to set a base before looking to conquer the world. Whatever the efforts, the next few years will be exciting times for market watchers and businesses looking to take advantage of the myriad of new technologies from crypto-trading chatbots to AI apps that can trade in blockchain-guaranteed currencies or commodities.