Sunday, 23 October 2016

Sharing Economy

I just posted on my linkedin account some links about recent and upcoming ICOs.

This blog post is about what new currencies and tokens are possible. The main point about new currencies in the cryptospace is they allow microbilling because everything is realtime. The transaction between the buyer and seller can be completely fluid because we have no third party involved.

It is akin to a conversation - the buyer and seller are interacting.

Example of how new currencies can be used -

1. Mobile phone payments - pay as you go now works on a "top up" but with blockchains we can organise realtime billing and debits are done exactly as you use your phone with a token billing system.

In effect you have a wallet with phone-tokens and as you use services they are billed.

2. Electricity - smart meters can bill as you use electricity - no more top-up based on a discrete transaction but realtime billing.

3. Taxi rides - billed not at the end but as you actually travel - no surprise bill at the end of the journey.

4. Water rates - as you use.

5. Taxes - taxed as you incur tax liability.

6. Salary payments - as you work - not at the end of the month. You are paid immediately a minute of work is done.

7. Interest on bank accounts - earn money as the money is invested into the bank - by the minute.

8. Web Hosting - billed as you use it.

9. Landlines - billed as you use them.

10. TV subscriptions - actually all subscriptions - billed as you use them.

The list is almost endless - an economy based on pay-as-you-go: realtime processing; distributed power and currency.

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