Shift value creation and wealth generation to the online realm

For some reason, last night I got really interested in Blockchain technology. Reading whitepapers, listening to podcasts, and reading up on blogs that tout it's real life use-cases. I try to avoid major news sources for this, but even they were all over it with their articles.

Turns out there's a vast ecosystem out there and I have a lot of catching up to do.

Naturally, I started thinking up the implications and applications of the technology and how it could be used in real life.

But it dawned on me, what if, similar to the early days of the Internet, the game to play is to shift everything online?

That is, imagine living in the online world, where all the currencies and value creation exist only in that realm / dimension? Then, as you store the value in that realm and the rest of the world catches up to understand the value in it, you've already been in that world and you'll be ahead.

Just like in the real world, value creation in these dimensions exist if you create for them. The creators in whatever world it is you are in are the ones rewarded.

It's just a thought that I want to put out there, but what if instead of transfering the system of value that we currently have, fiat money, into the world of blockchain, we instead build real life applications for it which help with efficiency and reliability? As a way to invest into that ecosystem? And as a conduit between that world and the real world? (This is along the same train of thought I had for eCommerce).

Put another way, skip the intermediary of fiat money and go straight to creating on an ecosystem to build agreed upon signals of wealth on that ecosystem. Gain rewards from it through leveraging your time and skills to create for that ecosystem.

And the way the blockchain is decentralized and distributed with trust built into it, and since the marginal cost of replication of an application built with blockchain technologies is 0, once initial traction of usage has kicked off, it's up to network effects to grow.

👋🏽 Hi, I'm Tom!

I'm the founder of Vocalmatic, an automatic transcription platform for converting audio and video to text. I write about online business and growth.