Blog

Blockchain Marches Towards Mainstream Usage

In today’s blog, I highlight some announcements over the past few weeks that show companies continue to adopt blockchain into their businesses and mainstream usage of the technology continues to grow.

Mass utility of stable coins and tokens

Kakao, which is a popular messaging app (similar to WhatsApp) with over 100 million users (mostly in Korea and South East Asia), recently raised $90 million in a private token sale to develop its blockchain and token ecosystem. This would open up the potential for mass adoption of Kakao token for remittances and payments similar to Facebook’s plans to integrate its own token ecosystem in WhatsApp. Telegram, which is a privacy-centric messaging app with about the same amount of users as Kakao, raised almost $2 billion last year for a similar endeavor.

Smartphone maker HTC recently announced that their upcoming blockchain phone Exodus will ship with the Opera browser pre-installed (which has similar features as BlockMint’s Minter browser) to enable payments within the Opera browser and empower phone users to track and sell their browsing data using the Ethereum-based App called Numbers.

With all three messaging apps having a combined 1.2 billion users, and the popularity of HTC smartphones in developing countries, I believe that we will see mass adoption of blockchain for  remittance and payments occurring within the next few years.

Securitization and tokenization using Blockchain

In the previous weeks, we saw the announcement of one of the first and serious gold-backed stablecoin by the creators of Paxon Standard Token, which has a market cap of approximately $120 million as of today. A stablecoin is a digital token whose one unit value is equivalent to one unit value of a fiat currency such as the U.S dollar. By creating a gold-backed coin, Paxos will allow users to easily exchange U.S dollars for gold-backed coins and remove the friction in acquiring or trading precious metals like Gold.

In addition to precious metals, recent reports points to the tokenization of real-estate as well.

Blockmimmo recently launched Europe’s first tokenized real estate paving the way for anyone around the world to participate in cross-border real-estate investment with ease.

Blockchain tools and infrastructure

Google is also entering the blockchain space by releasing new tools and infrastructure for undertaking deep analysis on blockchain networks. These tools will compete with those offered by two startups, Chainalysis and Elliptic, who have raised a combined $60 million.

Nelson Ijih
Chief Executive Officer