CarCoin has ubered Uber. AppCoin has upstaged Apple. And Africoin has made African countries irrelevant; fiscally and economically at least.
Based on the cryptography that underpins BitCoin, the blockchain technology makes it possible for the value of these blockbuster businesses to be widely distributed over the internet. Unlike a listing on a stock exchange, there is no central registry, and the ledger of who owns what portion of the stock is self-contained in the blockchain itself.
What’s more, an aggregation of sufficient nodes on the network is all that is required to confirm a transaction, and for value to be transferred. This takes place at zero cost, and with zero risk of fraud.
But even more important is the self-fulfilling nature of the transactions. So when someone buys an app from the AppCoin store, the revenue distributed to the company is automatically added to every holder of AppCoin ‘stock’, in real time.
There are no shareholders’ meetings, no company officers or offices, and no legal entity to hold to account for taxes or corporate citizenship.
Now the biggest digital supplier in the world, BlockChainPrint (BCP) is completely run by algorithms that take orders, 3D-print the goods, and deliver by drone or CarCoin vans to collection depots. There’s no ‘management’ at all, and the algorithms are tweaked by the network syndicate that controls the most BCP ‘coins’.
Regulators and tax authorities are at a loss. It’s impossible to shut down the blockchains without shutting down the entire internet. The only way to get revenue from the blockchains is to buy some coins!
Isn’t the free market wonderful?