Ethereum will be the next Facebook — a fundamental analysis
2017 has been an amazing year for Ethereum. Prices has hit an all time high of $800, and it is now the processing nearly double the number of transactions of bitcoin at a million a day. „As we enter 2018, I think Ethereum will be the next Facebook due to the massive amount of use cases that i am finding in major industries that benefit greatly from decentralization & transparency.”, says Kenneth Tan, Co-Founder FundYourselfNow, in an article published by Medium.
Ethereum is basically the app store for blockchain. It allows creators to build and run apps without having to worry about the underlying “operating” system just like Apple.
Mark Zuckerburg started facebook at the young age of 20 about 13 years ago, and it has completed changed the way we interact with our friends and family. Vitalik, founder of Ethereum, started Ethereum also at the young age of 20 too about 3 years ago. „I strongly believe that within the next 10 years, Ethereum will radically change the we interact with our world.”
Here are some of the areas to look out for:
Payments & Lending
Currently, the crypto-currencies are quite hard to spend. Crypto credit card companies such as TenX, Monaco, Tokencard are stepping in to fill in the gap. All of them are built on the ethereum network. I personally hold a TenX Card and have used it to spend on daily goods and services using bitcoin.
Monaco in particular, has gotten official approval from VISA to issue cards to Singapore residents. Expect to see a huge increase in actual cryptocurrency spending & adoption 2018 as many of these crypto-card companies get official approval from VISA or MasterCard.
There has also been a rise of ethereum based lending solutions, such as SALT lending and ETHLend. The interest rates are expected to be fairer than getting from a bank, and people globally can gain access to financing even without a bank account.
I expect that 2018 will be the year where we will help lot of the unbanked get included in this new digital world.
Click here to read the full analysis: Ethereum will be the next Facebook
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
