I’m posting my whole entry here:

Public, open source blockchains are moving towards mainstream, defined here as a time when blockchain based cryptocurrencies become more relevant in our daily lives than government issued fiat. Salaries, savings, and payments will be done on blockchains, as well as new applications currently being devised and developed. The technology must yield value to people and businesses while being cohesive, intuitive, and trusted to function properly, which will take time. Adoption is currently only loosely correlated to market cap. Note* in some cases blockchain tech will provide hidden backend functionality unbeknownst to some users.

Some of the values blockchain can supply are: secure value storage, quick, cheap, and borderless transfers, financial services like insurance, privacy, and censorship resistance from governments and malicious entities (very important in the long run, therefore blockchains shoud be decentralized), trustless means of exchanging currencies, and appropriate government regulation. For those who don’t have a bank, blockchain is especially valuable. Fiat pegged stable coins that pay interest comparable to fiat money markets or certificates of deposit are also an important transitional tool. Education for users (and developers) will be sponsored by exchanges, blockchain platform foundations, governments (maybe), decentralized application developers, and the blockchain community as a whole.

Blockchain platform technologies are at the core of this societal shift, but gaining adoption will require ongoing platform/app development, and an array of talents that provide messaging and brand outreach, plus help for merchants, miners, holders, node operators, and potential new participants. For examples of what else a blockchain platform can do to catalyze adoption I will be sharing some of what Æternity Blockchain is working on.

To support billions of users, a blockchain must have high scalability and throughput. Æternity has a streamlined on chain consensus algorithm and also incorporates built in (off chain) state channels, which (once opened) allow free, near-instant, unlimited transactions between two parties. This interaction can be automated by a smart contract program for micro payments. Æternity also built in oracles to provide valuable data to the blockchain as well as incentivize people to join the platform and earn tokens by submitting requested crowd sourced information. Æternity has, and is improving, an easy to use æpp (Æternity application) suite, like a ‘one-stop-shop’ environment… The vision is to have many functional elements that work in tandem… Furthermore, Æternity has created Æternity Ventures to invest in and guide projects building on the platform. To make æpps less bug prone, Æternity provides documentation, software development kits (SDK’s), and has designed a functional smart contract language which prevents some unforeseen side effects. Governance of some mechanics is ideally a balance between network validators and holders, which is why Æternity will implement token weighted voting.

On a basic level, the will of the people will spur blockchain into the mainstream. Younger generations are familiar with modern technology and as they come into financial maturity they will appreciate the benefits of blockchain more than entrenched “old money”. Many of today’s efforts may fade, but at least a hændful will bloom.

End

PS Institutional capital will come.

If you like what I had to say you might enjoy my Æ related youtube channel