I am presently working on a project called Qchain, which is focused focused on facilitating efficient and cost-effective transactions between digital advertisers and content publishers using blockchain technology, with a wonderfully scrappy and resourceful team. The development and rise of cryptocurrency has fascinating me over the past few years, and I am excited to finally be a part of it in a more intimate and front-line fashion.
Bitcoin started snaking its way into the global consciousness while I was in college. I remember chuckling about the pizzas being sold for $10,000. And then, from pizzas, we moved on to dark net markets, Mt. Gox, the rise and fall of a million microcosms in the mining scene, from CPUs, to GPUs, to ASICs. And where are we at now? Proof of stake, proof of importance, proof of contribution, proof of covfefe.
Increasing speculative awareness of cryptocurrency has certainly outstripped day-to-day enterprise and civilian use cases of blockchain technology, and I have my doubts about whether blockchain technology is good for certain things at all, given that the decentralization facilitated by blockchain tech is not a be-all, end-all. Indeed, certain things function better centralized; the spectrum of trade-offs on the decentralization-centralization scale varies for different things. However, there is no doubt that blockchain solutions will come to prove their use for several markets and industry sectors. They have already more than proved themselves for dark net markets. For all the joking about the impracticality and triviality of cryptocurrency, I’d say that changing how humans buy drugs is a massive feat.
I have no doubt that blockchains will (eventually) become used for the record keeping and resolution of insurance claims, the shipment and verification of goods, and the verification and tracking of tax payments. And perhaps (I and my team obviously hope), blockchain solutions could become useful for advertising. Let us see how this all plays out! I definitely welcome you to read more about the Qchain project proposal in our white paper located on our website.