The internet started its life over 30 years ago, and since then, it has penetrated almost every aspect of our lives. Today, it underpins virtually everything we do.
To understand the evolution of blockchain and the potential it has to pervade every aspect of our lives, we need to take a step back and to consider how the internet went from a cool, niche idea to one of the most ubiquitous forces on the planet.
In the case of the internet, we suffered countless hours of failed connection attempts just because we could and because some had no social life. we didn’t really need a “use case” for the internet or go as far as to question why it existed.
In crypto, we first need the crypto. With the internet, we needed the connection. In order to access or acquire this crypto, we need the exchanges to sell it to us, which is similar to the ISPs in the internet example.
What is the blockchain equivalent of email addresses? Put simply, wallets. What is the one thing we all need to have before we can start to use crypto? Wallets. Without any place from which we can send and receive crypto, and have others receive it, we cannot use crypto. Currently, each blockchain has its own wallet. We need some sort of interoperability between them, a master wallet or even sub-wallets.
The key to the next phase of crypto and blockchain development is the wallet. Whoever cracks that challenge could well be a key architect of our future.