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June 23, 2017, 05:01:13 PM |
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What happens if we shelve this idea of a global digital currency? Does Blockchain technology become irrelevant? Of course not. It actually becomes far more relevant.
Take, for instance, a study from the Energy Web Foundation (EWF) in partnership with a Blockchain startup called Grid Singularity. The study shows 200 use cases for Blockchain technology in the energy sector, including ones for renewable energy certificates, peer-to-peer energy sharing networks and customer billing.
10 major energy firms have joined the EWF in order to take advantage of these applications. However, none of them can be executed on Bitcoin’s platform. The EWF had to turn to Ethereum’s smart contracts for these particular services, which speaks to my earlier point: Ethereum casts a wider net than Bitcoin.
It fulfills the true potential of Blockchain technology by expanding beyond money, beyond Bitcoin, into everything else. More and more innovators will be drawn to Ethereum’s smart contracts, ICOs and faster transaction speeds. As a natural result, they have to use Ether tokens on the platform, suggesting that ETH prices will continue to skyrocket.
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