Over the past few days, there has been activity in the Crypto space: The Enterprise Ethereum Alliance was formed. This is similar to IBM, HP and others backing the Linux foundation during the late 1990’s/2000’s. As a result, etherum moved from 11$ to about 20$ this week and just crossed the 2B$ market capitalization.
Dash (formerly Darkcoin), another cryptocurrency is the rising star in this world of altcoins. Dash is the true implementation of proof of stake combined with distributed-consensus mechanism. This implementation makes transactions immediate. Their integration with existing merchants, closed and open loop payment networks like VISA is second to none. The team is putting some serious effort these guys are putting to make this a currency that does all, with less time and almost no transaction cost. Their master node incentivization mechanism works like a bank giving equity to people who deposit money in addition to interest on their deposits. Read about it here
Snap IPO’ed this week. The irrationality of multi-billion dollar valuations, in times where markets penalize even a 10-12% growth (e.g. Yahoo!). Generations of internet companies have followed this path of raising massive capital from public markets (at high valuations) in expectations of massive growth due to network effects. However, with Crypto-currencies like Steem (or and with mechanisms on Ethereum) there is a possibility that this can change. The end users that cause the network effects can possibly earn dividends for using a social networking or messaging platform. This is almost like banks giving people a share of the dividends in addition to interest they earn from the money deposited by account holders.
This will probably be the next generation of internet companies- those that reward users, and, also themselves.