Blockchain taking away middlemen
Bitcoin and the Blockchain technology is powerful in that it exists in order to cancel out middlemen, that can take a huge part of a companies revenue or profits. The company Amazon takes over 30%-65% of all revenues gained from the sale of a e-book, which can become very inefficient for a company.
However, some try to think positively about this process, most individuals and economists do agree that it is a small price to pay in order to achieve great reach and consistency you can receive on a platform like Kindle, Medium and blogs.
There are currently project from the Blockchain and cryptocurrency industry working on solving the issues. Social media platform like “Steemit” made its own build-in cryptocurrency(STEEM) to solve these issues. However, it is still quite new to the decentralised model for widespread adoption in the current financial system.
The current market position has a sizeable amount of audience and is already giving a good advantage in the financial markets. Which helps them to continue surviving in the worst cases without incurring many expenses other than minimal web-hosting costs. A company’s target audience could buy whatever they want and pocket most of the money. Some companies can even avoid payment methods like Paypal and Stripe transaction fees by jumping to crypto platforms like Stellar, that offers integration with wordpress.
Companies like Amazon fall short because of its Centralised and traditional business model. These big companies do not have the opportunity of doing micro-payments for short term payment cycles. The Blockchain will allow for companies like these to receive payments within 5 minutes of a client purchasing a product or service. Traditional systems can take days to process a transaction through financial institutions like the banks. In a blockchain-based financial system, the wait for payments within two-weeks or one-month cycles will no longer be necessary.
The decentralised economy
Things like offering royalties like a few pennies is hard to accomplish in the traditional financial system. While some people want to be able to allocate royalties to individuals simultaneously in a decentralised way. This platform called decent or Dcore, will allow for its users to be able to create revenue sharing opportunities, together with crowdfunding and custom token launches. This space is full of ideas and great opportunities and will continue to grow in the future, making the financial system faster and better.
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