Last time I talked about how using blockchain technology to circulate local currency could lead to the revitalization of a regional economy.
The main point of blockchain technology is that it makes alterations almost impossible. That is why we can now prove the truth of things we only just sort of believed before. In the sense of being able to prove amazing things, there is still a lot we can do with blockchains.
Estonia’s Funderbeam, which I introduced to you last time, is one example.
This company has used blockchain technology to build a stock market. But what is being traded is not actual stocks, but “tokens” that show rights. You can use tokens to buy or sell rights to unlisted company stocks.
Furthermore, by eliminating the need for a stock exchange, they have also eliminated fees. Because they don’t need a huge central system like existing stock exchange systems, they don’t have any server or security costs. Things are set up so you are charged a fee only when you make money.
So this is a truly disruptive model that shows both brokerage firms and stock exchanges may become obsolete.
That’s not all. Next I’ll introduce you to a company that is trying to fundamentally change copyright management.