Introduction

Despite the recent rise of artificial intelligence, blockchain remains a hot topic in the technology world. Everyone talks about it, fears it, or speculates on it. But ultimately, what is it really useful for?

Let’s explore the concrete applications of this revolutionary technology that has the potential to transform numerous sectors.

A Free Digital Currency System

When we talk about blockchain, Bitcoin is often the first name that comes to mind. This pioneering cryptocurrency was created to fight against the tyranny of financial institutions and bank theft. Using blockchain’s decentralization and security, Bitcoin offers a free digital currency, allowing everyone to control their financial assets outside traditional boundaries.

A simple internet connection is all that’s needed to become the sole master of one’s funds.

Revolutionary in its “simplicity,” Bitcoin is unparalleled in its purity, but its nature goes against the development of complex applications.

The Arrival of Solidity

With the emergence of Ethereum and its programming language Solidity in late July 2015, blockchain took a new step forward. Smart contracts (contracts deployed on the Ethereum blockchain) allow the development of complex decentralized applications capable of solving real problems. The ERCs (Ethereum Request for Comments) introduced in the protocol opened new possibilities, offering a dynamic and evolving ecosystem for developers.

The Introduction of NFTs (Non-Fungible Tokens)

Simply put, an NFT is just a special type of token that represents a unique and indivisible asset. These have opened new doors in the world of art, physical property, and many other domains that we’ll explore here.

Virtualized Art

In the art world, NFTs have allowed artists to monetize their work in unprecedented ways. They can create and sell unique digital artworks as NFTs, offering collectors exclusive and verifiable ownership of these creations. This has also opened opportunities for artists to receive royalties on each resale of the work in the secondary market. To check out trending collections, OpenSea (the market leader) is a good platform to explore different artists. If pricing, speculation (and maximum decentralization) are more your concerns, the competitor blur is a great platform.

Object Traceability in Gaming

Video games have long suffered from problems such as inventory hacks and dubious resale platforms. However, thanks to NFTs, these problems can be solved innovatively. Take Treeverse, a game inspired by classics like Zelda, Dofus, and Genshin Impact. It uses NFTs to manage faction real estate (plots) and player skins (the “Timeless Characters” collection). NFTrees are at the heart of gameplay, allowing players to own unique and valuable assets.

Another example is Noobizes, a platform that aspires to replace well-established players like Faceit. Through the use of game APIs and anchoring match scores in the blockchain, Noobizes ensures fair and transparent competition. Tournament-winnable NFTs and tokens bring real cash flow to players most determined to make a living from their passion.

Passes and Membership Cards for Joining DAOs

DAOs (Decentralized Autonomous Organizations) are decentralized and autonomous entities that operate through blockchain. To access these communities, NFTs can be used as passes or membership cards, guaranteeing membership to exclusive circles and enabling transparent community governance.

Fair Compensation for Musicians

Blockchain offers solutions for complex problems, such as fair compensation for musical artists. Projects like Bolero use blockchain to allow listeners to directly fund small artists, bypassing intermediaries and ensuring a more equitable distribution of music-generated revenue.

Fund Tracking for Associations and Governments

Blockchain has the potential to revolutionize fund management for social organizations and even governments. For example, the recently publicized Marianne fund case, where money intended to fight radicalization was used questionably, could be avoided through total fund traceability on the blockchain. This technology would allow unprecedented transparency, reassuring citizens about the use of collected funds.

Conclusion

Blockchain is not just a technological trend; it has the power to profoundly transform our society. From free digital currencies to revolutionary NFTs and complex decentralized applications, blockchain offers innovative solutions for real-world problems. As technology continues to advance, we can expect new use cases to emerge, changing how we interact with our digital world.