The late John McAfee was nothing if not flamboyant, partly due to the fruits of his success in internet security, starting with the anti-virus software that bears his name.
He’s long gone from there, moving on to ventures that include cryptocurrency mining.
In terms of the online scene, then, McAfee’s been there and done that since the 1980s, usually accompanied by a full dose of exuberance. This is clearly on display when he evangelizes on his top priority these days:
That’s a claim that’s beyond stunning, but as we delve deeper into the 21st century, it’s beginning to look like he’s stating a fact.
The reason is trust.
The blockchain’s ultimate advantage in this regard is transparency and efficiency:
- It allows you to follow your transaction to its conclusion,
- It doesn’t share your information with third parties,
- It thus reduces the need for fees to compensate those parties, and
- It conducts the transaction in a much more timely fashion.
That’s just for starters.
The blockchain removes a great deal of the Wild West from cyberspace, which is yet another huge advantage for e-commerce entrepreneurs.
The use of tokens in transactions has been around since at least the 1960s. The most common are credit cards, as they represent your cash or ability to draw cash for a transaction.
And we all know how exciting using credit cards on the internet can be.
It’s now the second-most traded cryptocurrency in the markets, and its ERC20 token is currently the most ubiquitous among organizations intent on bringing the blockchain to customers’ smartphones.
The major manufacturers are buying into it. Here’s an example:
An indication tokenization via blockchain is the way of things to come, some nations are now converting their fiat currency to the format.
How’s that for irony!
Singapore was the first, and Sweden is committed to it, too, after a trial run with a digital form of the krona being so popular that rural areas couldn’t convert to it fast enough and a measure of hard cash had to be reintroduced.
In fact, the Swedish government has embraced the blockchain in more than the financial sector.
There’s absolutely no doubt others will follow, which is awesome news for e-commerce entrepreneurs.
The enhanced trust and efficiency in online transactions will do more to put us on an even stronger footing with the big brands than we can even imagine.
It’s vital that we stay at the forefront of the blockchain’s and tokenization’s rapid evolution.