‘The Force is not about lifting rocks. It’s a tension, order, balance.’
I know someone who has seen the new Star Wars movie eighteen times will correct the quote above, but when I saw it, that’s how I remembered Luke Skywalker’s words. I noted them specifically because, frankly, they explain why blockchain is going to be so important in the world.
Data has always lived somewhere. And when it is needed, that somewhere is called on. And when that somewhere is compromised, bad things happen.
To fight that, the world has always replied on copies of the original data, so when it all goes to hell, we can compare back to what it used to be. But that’s sometimes not helpful in any means other than to figure out what gate to close after the horse has done a runner.
The blockchain starts from scratch and says, what if data lived everywhere, protected by encryption but verified by everyone, constantly. I send you money from my bank account, and everyone else at the bank verifies that I sent it, and you got it, and that nothing got hijacked. Simple.
But a lot of computer power is needed to make that happen, which is expensive, so cryptocurrency came in to reward those doing the work with compensation. Verify my transaction, earn a tiny amount of blips. I verify yours, and I too get some blips. When one of us has enough blips, we can use them to buy something. Or, in the case of everyone right now, just sell for a profit down the line.
So that’s where the Star Wars misquote comes in. Blockchain isn’t about earning crypto, it’s about bringing balance and order to the financial world in a way that doesn’t live at JP Morgan or Bank of America. It’s about securing data while making it easier to get to. Balance. The natural order.
It ain’t lifting rocks.
So when a company says “We’re getting into blockchain,” and the first thing they tell you about how that’s going to happen is they’re setting up some servers to mine alt currency, what you’re getting it the lifting of rocks. And anyone can do that.
The balance is the real stuff, the big opportunity, because that can make just about every industry, every task of data wrangling, every need to bring order to millions of quantibytes (I just made that term up, but let’s assume it’s big) of constantly changing data points, while keeping those data points at the ready.
Blockchain will be big in banking. And in insurance. And in logistics. And in compliance. And in accounting, and package delivery and medical records and weed tracking and search engines and government and real estate and… well, everything.
When The Empire is trying to keep track of millions of planets and whether they’re paying their taxes, if they’re not using blockchain tech, they’ll need to build a Data Star to sit next to the Death Star, and the ISP bills will be horrific.
Why does any of this matter?
Because there’s blockchain and there’s Blockchain.
Because there’s folks using blockchain to make industry run better, to make it more secure, less expensive, faster, more open – and there are people putting big-B Blockchain into their company names to raise a bunch of cash on a market run, with the hope that they’ll figure out what to do with it somewhere down the line.
I tell you this because a company put out news today that pushes them deep into the small-b blockchain world, and that’s where the real money will be made.
Imagine, if you will, a cryptocoin was out there that was designed specifically for betting. For lotteries, sports gambling, online fantasy sports, casino games.. You could certainly see how an industry like that would have a use for a more secure, faster, more transparent yet still anonymous platform to actually run, verify, and pay out bets.
Now imagine that gamling-focused cryptocoin, when it starts to get some real traction, has millions of dollars of gaming rolled through it every day. Or every hour. Or every minute.
Now imagine if a company built an app that helped that coin work, that locked in the process of selling tickets, verifying tickets, tracking payments, tracking winners, ensuring winners are paid and losers pay up – and that every time that app was called on, a small percentage of the transaction went to the company that built the app.
Welcome to eXeBlock (XBLK.C).
See, while you guys were off buying things because they were going up, and suddenly found yourself holding a bunch of stock of a company that hadn’t actually announced a business plan yet (what’s up, UBI Blockchain Internet (UBIA.OTC) with your $7 billion market cap and your ‘beside you block chain security expert’ website slogan), SeXy eXe was locking things down with the Peerplays group, that run what you might call the Bitcoin of gamling; PPY.
eXeBlock Technology Corporation (CSE: XBLK) is pleased to announce that it has entered into an agreement with the Peerplays Blockchain Standards Association to develop four decentralized applications (‘DApps’) over the course of the next twenty-four months. The DApps will be compatible with the Peerplays blockchain platform. eXeBlock will use its team’s expertise in developing the DApps and will have full discretion in determining which DApps to develop.
Translation: Peerplays came to eXeBlock looking for functionality on its network. After all, in order for people to use Peerplays for its intended purpose, developers need to be able to plug in useful apps to their own sites, to make things go.
Think of it like this: For years, if you needed a website, you had to go build one yourself. Or pay a guy. And that guy always sucked.
Then, one day, WordPress became a thing and anyone who wanted a website could just install their software and bang one out (like we did at Equity.Guru).
Then, one day, Squarespace came along and you didn’t even need to install the software anymore.
Peerplays, right now, is that guy you had to call, who sucked a bit. eXeBlock has been developing the WordPress functionality, that will allow folks to run their gambling apps on Peerplays more easily (the eXe50/50 DApp, which is at the white paper stage). Next, they’re neck deep in their Freedom Ledger app, which will bring things up to that Squarespace level, by making it possible to convert currency into cryptocurrency, and back. That plugin will allow developers to bring that functionality to whatever they’re building – and eXeBlock will get a cut of all their transactions in return.
And beyond that, Peerplays has selected eXe to go deeper, with four more DApps.
What’d they give eXe for that?
With the commitment to develop the DApps, eXeBlock will receive approximately 940,000 Peerplays (‘PPY’) tokens. PPY tokens are digital assets that will allow holders to vote on operational modifications within the network and share in revenue generated by DApps operating on the Peerplays blockchain platform.
Now, the company couldn’t put a value figure on that in their news release, what with accounting rules and exchange policies, but if we look at the value today of one PPY token, we find this: