Blockchain technology is speedily expanding network communication from just moving information to the transmission of value. The peer-to-peer technology that is powered by Blockchain now permits the transfer of scarce, authenticated and secure value across parties without intermediaries.
This fundamental aspect of the Blockchain has endeared it to a lot of users who appreciate its intrinsic benefits. However, the normal exclusivity that comes with emerging products makes the need for an interface to bridge the gap between the industry and the external world expedient.
The industry needs a user interface
Despite the important values offered by Blockchain technology, the concept behind its entire system is not yet appreciated by regular society. The general public still perceives the technology as an exclusive reserve for geeks and innovators. So far, there exists less than 15 mln Bitcoin wallets and also less than 1.5 mln Ethereum wallets. These two represent the largest crypto communities, other altcoins have a much smaller number of registered wallets. Yet those numbers have numerous duplications. The real numbers must be lower than that. Compared to the population of the world, the fraction of crypto users is still very low, leaving a lot of room for more adoption.
Like other innovations before it, to become appreciated and to gain much-needed adoption into the mainstream, Blockchain technology needs to become interactive with the average Internet user. Creating a user interface (UI) could turn out to be one of the most significant developments within the ecosystem.
“Whatever efforts are made to lower the barrier to building value on the Blockchain, the better off we are as innovators and society as a whole. The low-hanging fruit for the developer community is to create the appropriate hooks into the platforms that are available, this will enable regular society to really appreciate the value offered by Blockchain technology in tangible forms.”
- Melvin Petties, Blockchain Technologist
Mainstream adoption can be achieved easily
A clear example of user interface and its benefits to modern day technology is the iPhone and Apple’s App Store.
The App Store allows anyone to bring ideas to life and access a massive global audience. Since 2008, 300,000 developers have written over two mln apps that have been downloaded around 140 bln times. Prior to the App Store providing the interface moment to mobile, the potential to galvanize a creative army of developers and artists remained unrealized. The App Store opened the door to a staggering era of wealth creation and innovation, and changed the way humanity lives, works and plays.
Implementing a user interface on the decentralized Blockchain platform is a move that is expected to catalyze the eventual mainstream adoption of the novel technology, and enable the actual transfer of tangible value within the ecosystem.
An enabling protocol
BLOCKv, a Blockchain development platform, is introducing a shared protocol for the Blockchain developer stack, this will represent the interface moment in the maturation of the Blockchain sector.
BLOCKv provides developers with the building blocks to design the experiential economy of the future and unlock new revenue generating opportunities for businesses within this growing ecosystem. The BLOCKv platform enables the creation of smart digital objects on Blockchains unlocking the potential to rapidly engage end-users, and traverse digital and real-world environments.
These smart objects, called vAtoms (Virtual Atoms) combine code with multimedia elements and are dynamic, compelling digital goods that make a cryptocurrency come alive as an asset for developers, brands and end users.
BLOCKv’s innovation is geared at transporting the value of elements like a Bitcoin or Ethereum token from a simple container or smart contract, to an emotionally satisfying multimedia experience. In other words, the interface is out to demystify the imaginary appreciation of Blockchain entities and deliver them as real elements whose value can be appreciated by the common man.
Delivering real value
BLOCKv is introducing a system where cryptos will not only just remain virtual in nature, but can also adopt values in the form of collectibles, coupons, loyalty programs, gift cards and more.
This is an even more trusted and secure system than the existing App Store, as the BLOCKv platform is decentralized and not owned by any individual or group. Rather, the service is powered by its protocol coin, for and with the developer community.
The BLOCKv protocol coin ‘VEE’ is set to be offered to the public in an Initial Coin Offering that will be launched on Oct. 12, 2017, at 9 a.m. (EDT).
BLOCKv ushers in the new experiential economy, by creating virtual goods that:
- work across any digital platform, including all major devices and virtual and augmented reality systems, allowing users to experience and sell, trade and redeem them anywhere they have access to the Internet.
- are ownable, maximizing the value/experience for the owners.
- are built on Blockchain technology, ensuring authenticity, ownership, and control.
- merge the digital and real worlds, giving users a way to seamlessly exchange digital goods for physical goods.
- are distinguishable and unique on a per object level, which even today’s cryptocurrency tokens are not.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.
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