Blockchain an economy?
Yes, perhaps!
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“Every day, the number of blockchains used in real-world scenarios grows. From logistics to fine art, it’s hard to find a sector that hasn’t been touched by this transformative technology. “ - Essentia1, 2018)
As a standalone economy, blockchain is big. CMC says the current market capitalization is $2 trillion.
As a distributed ledger system, blockchain is sometimes called a decentralized database or distributed ledger technology.
Despite its 'vagueness,' blockchain technology is able to be implemented in almost every facet of our society due to its flexible, robust, and feature-rich nature.
Besides being an economy, it has the potential to transform all sectors of the traditional economy and create unprecedented social change.
Unlike other industries, blockchain is unique. A blockchain project isn't listed on a public stock exchange like ASX, NASDAQ, NYSE, SSE, but it has its own market. Thus, it supports the nuanced belief that blockchain technology isn't just an industry but a whole new economy.
The ‘cryptocurrency market’ is accessible through CMC, or one of the numerous centralized or decentralized exchanges out there (BINANCE EXCHANGE, HOUBI, AAX, ) (CENTRALIZED)( 0x: Powering the decentralized exchange of tokens on Ethereum, Ren Project, Uniswap) (DECENTRALIZED)
This is important, and provides certain justification when assessing the validity of the claim, ‘Is blockchain a standalone economy. (claim)
Blockchain technology has applications in a variety of industries, including finance, healthcare, government, and security. Whilst taking this into consideration, it would be ill-advised to disregard blockchain as a stand-alone economy since it has a market capitalization of 2 trillion.
I will continue to update everyone on my discoveries
For now, goodbye
I appreciate everyone who reads😊