What does this mean? Well, let’s do a thought experiment.
- Need a home-loan? No need to go to the bank, plug in to your local blockchain-run lending company and get approved; the loan is processed immediately and the money is put into your online wallet. The contract is saved on the blockchain, so the terms cannot be altered. Since overhead is minimal, so is the interest rate; in fact, the company only charges a fraction of a percent on your loan.
- Spending a great deal of time on Twitter? Do your tweets attract a good amount of traffic? What if every “retweet” you got resulted in money, and you could make your living by tweeting? It would only be natural; you provide the content that Twitter relies on, of course you should get paid.
- Live in a country with hyper-inflation? Invest your money into a stable cryptocurrency that is secured not by a government, but by crypto-holders across the globe.