Can Blockchain break Facebook, Uber, Airbnb, eBay and the like? The answer we want to give for the currently discussed Blockchain interpretation is ‘so far, no’ – contrary to common opinion .
The reason being is that for none of the Blockchain technology specifica is there is a clear path to attract users to the platform. They are just like banks
What is it that triggers the communities fantasy on disrupting data monopolists such as Facebook, Uber, Airbnb and ebay?
Foremost, there is an obvious analogy to banks. There are two parties, who want to work together (send money, chat, have a ride, rent a flat, trade an item) but need a middleman to facilitate this. Usually, this entity takes too much of a slice of the cake. In the case of banks, it is even worse. How Blockchain could disrupt data monopolists
Blockchains can be extended beyond the database paradigm towards a general application platform. These platforms work very differently. For example, they have shared virtualized databases, micropayments and consensus mechanisms, from common on-premise or on-cloud platforms that they have the potential to re-implement the named examples while not allowing one party to monopolize the platform.
The main Blockchains like Bitcoin are an example for a distributed autonomous organization.
These are organizations centered around code as their ‘constitution’ and have as its main players users, developers, miners (those that render the infrastructure) and evangelists. They are rewarded by tokens (e.g. Bitcoin) and sometimes in softer currencies such as reputation, career opportunities and even fame.
Usually there is a board and a foundation at the heart of the organization, who can also grant permanent salaries for a small core team. Decisions on directions of the system have to be made in a democratic way between all parties involved, even though there may not be […]
