Crypto's best/coolest use cases.
CoinTelegraph asked its Twitter followers: "What is the best use case of crypto?" So here's our two cents...
The best use case:
Being your own bank...both as a customer and an owner. A little boring on the surface - but it's a BIG one.
Think of it like this - right now we use banks to store our money, process transactions, and take out loans/lines of credit.
The banks supply these financial tools in return for transaction fees and interest payments.
Crypto lets us play the role of the customer AND the bank.
On the customer side: we can store our money safely and process transactions, on our own, without the need for a third party (i.e. a bank).
On the banking side of it: we can lend our crypto to other users or exchanges, and profit from our holdings. Plus, we can collect a cut of many cryptocurrency's transaction fees by staking our coins.
On top of that, owning a cryptocurrency's coin or token is much like owning a bank's stock. The more people use a cryptocurrency, the more its coin/token appreciates in value.
Sure, banking is a total snooze fest - but the potential to redistribute wealth and control like never before? That's massive!
The coolest use cases:
The metaverse.
Ok, ok, the metaverse kinda sucks right now. But the potential is there. The idea of exploring the internet, in 3D? If that isn't cool, what is?
NFTs as bearer bonds.
A bearer bond is a piece of paper that gives ownership over something, to whoever holds (or bears) that there papyrus.
Only problem is, they're not that secure (lose the piece of paper, lose 'the thing' it gives ownership over).
NFTs are like secure bearer bonds (much harder to steal/lose).
Right now, they're mostly used to show ownership of digital art, but they have the potential for much wider applications (home deeds, rental agreements, vehicle registration, ticketing, etc.)
Owning your own data.
As they say, 'data is the new oil,' taking your personal data back from the likes of Google, Meta (FB), Twitter, Snapchat...allowing you to either A) keep it private or B) be the one to profit from it - pretty cool idea, no?
The common thread between them all:
No more middle-men - that's the common promise of blockchain technology. We get to participate as users and owners in Web3.
Pretty neat!
