What you need to know about the blockchain economy

blockchain economy

Image Credit: Pushish Images / Shutterstock

Blockchain has almost become a buzzword these days. Everyone wants to do a new “X on blockchain,” whether it’s a decentralized Dropbox, a crypto-Amazon, Upwork with insignificant commission rates, or a Facebook where you own the data, and rake in millions of dollars in Initial Coin Offerings (ICO).

Blockchain reduces transaction fees, promotes transparency, prevents cyberattacks, and puts control and ownership of data back into the hands of users. However, one of the less-discussed benefits of blockchain is the way it can reshape online services, industries and organizations.

And on that front, there’s a lot that needs to be done. Continue reading