Alright, so now we’ve got a basic understanding of where the blockchain comes from and what it seeks to do. But what does this look like in action? Jason tells me that here, the possibilities are endless.
“Blockchain will provide new currency functions. By making currencies more transparent, we can see in our virtual economy everything that’s going on. The blockchain is an open ledger, so anyone can examine it and see what’s happening in the economy. Are people using their money or are they not? You could see if someone is holding onto currency for speculative purposes. You could gauge the velocity of token or coin usage… but that’s just one particular use case of the blockchain. There are many others.”
Jason goes on to highlight examples such as deeds, intellectual property patents and medical records, all of which will make their way onto the blockchain in the coming years. In his eyes, public and private sector applications abound, and as more and more use cases are identified, an entirely new infrastructure for data storage will become vital to the blockchain’s success. Enter, Genaro Network. Advertised as “the first Turing complete public chain and decentralised storage solution”, Genaro is at the fore of the revolution to move all of our data from the cloud to the blockchain. As Jason explains, “We are a different kind of blockchain company because we provide infrastructure, storage and community services rather than financial ones.”
Boasting a private, efficient, economic, secure and permanent storage space and sharing community for its users, Genaro will pave the way for big data to shuffle off Big Brother’s servers and onto the autonomous and crowd-sourced blockchain. Mobile and internet-based applications (apps) will be replaced by decentralised applications (dapps) and real-world hubs will support and facilitate the growth of the Genaro ecosystem by providing users with co-working spaces and opportunities for collaboration. “We’re just at the beginning right now of where blockchain is going to take us in the future,” notes Jason. Ambitiously, he and his team hope that by 2020, the Genaro Network will serve as the first “dapp” store of the blockchain era.