Blockchain: Who Wins?

A basic appreciation of blockchain is recognition that it’s not Bitcoin and it’s much bigger. Bitcoin and other cryptocurrencies run on blockchain. Cryptocurrencies are like applications on an operating system, which is blockchain.

There are many blockchains for different applications. Smart contracts are another application showing promise. Smart contracts are programmed agreements without lawyers or intermediaries. And of course there are all the social media applications that are popping up on blockchain.

Dubai aims to be the world’s first blockchain state.

The biggest winners of blockchain will be those who want to cut out middlemen, such as banks, lawyers, or the central authority of current social platforms.