Is this something you have considered? If you did, do it get you very excited?
This is the basis of potentiality. When we discuss Hive being a place of opportunities, this is what we mean.
While none of us has a crystal ball, it is common to look into the future with projection. This not only relates to price of a market traded asset but also the underlying entity. With Hive, this means looking at the ecosystem.
Where will Hive be in 5 years? What project will be built on it? How will it compare to other blockchains and ecosystems? What will people be using it for?
All of these are things to ponder. To me, the future of Hive is very exciting.
live, in this version, only 3 years ago.
Five years is a long time. However, it also goes very quickly. Keep in mind that Hive came to
In this article we are going to uncover a few game changers.
This is probably the single biggest thing missing from the ecosystem. The inability for developers to tap into a robust smart contract platform is holding Hive back. This is being addressed by a couple different teams.
Smart contracts are crucial to many aspects of this industry. Both decentralized finance (DeFi) and gaming are heavily dependent upon these. The ability to expand the offerings rather quickly is a result of this implementation. It also will allow Hive to operate on a completely different level.
This ties directly into something else we will discuss shortly.
Hive is not carried on most centralized exchanges (CEX). This is something that is obvious to most. That said, Hive can be positioned as an epicenter of activity. To do this, the value generated has to reach out. Bitcoin can be the vehicle currency to achieve that.
That said, Bitcoin does have its drawbacks. The network can get overloaded due to the speed, causing transactions to back up. At the same time, we also see fees increase during similar periods. For those accustomed to Hive's fast and feeless nature, this can be difficult.
However, there is already work being done to enable a wrapped version of Bitcoin to be transferred using Hive. This will move the settlement to Hive, something that can be advantageous. It is exactly what Lightning Network is trying to accomplish.
Consider for a moment what it could be like if this comes to fruition. Imagine the potentiality of Hive operating in a manner similar to Lightning. What does that do for Hive? How does this alter the ability for people to interact utilizing this network? Just think about the publicity that could generate.
I believe the more Elon Musk does on Twitter, the better it is for Hive.
Elon's vision for Twitter is incredible. It also has one major flaw: it is Web 2.0. This is something he cannot, nor does he care to, escape. Twitter is not evolving into a Web 3.0 platform. Instead, we see centralized control only expanding into financial areas.
Therefore, Twitter's merging of social media and finance is simply moves pool chairs around. Musk is targeting the existing financial system, looking to take business away from the banks. This is fine yet it is just swapping dictators. Instead of Jamie Dimon, we get Musk or whomever is running Twitter.
Hive is the one blockchain that is ideally suited for the combination of social media and finance. Notice how the social media applications are expanding. We are entering realms that are important to the average user. Most are not concerned with long-form 1,000 work articles. Instead, they prefer microblogging and short videos.
There is a reason why TikTok skyrocketed in use.
Hive is starting to build a powerful social media offering.
Here is where the smart contracts enter and the potential is enormous.
Hive has a leg up in that it has both a value capture token in HIVE and a stablecoin in the Hive Backed Dollar (HBD). Both of these reside at the base layer.
This is where the fun begins. Both of these, along with layer 2 (or sidechain) tokens can be used in financial services as lending. Through the stablecoin, and derivatives of it, we have the ability to offer payouts without ever leaving the ecosystem. This enhances the potential for economic activity in ways that we are not imagine.
Of course, this is only the beginning. No longer are we referring to just taking on the banks. Now we are going after Wall Street. This can be coupled with the idea of Silicon Valley and VC funding; we can establish that ourselves.
My view is we have value funneled into the ecosystem through the social media platforms. This provides the network effect. At the same time, we have the financial aspects intertwined throughout. This allows for the distribution of value to those who are participating.
Once this happens, users have the ability to tap into the financial services being offered, investing the value into more productive economic opportunities.
This is a rough outline of what is possible. Consider for a second $1 billion in value tied to Hive projects. Then think about the potential growth can look like if $100 million of that is collateralized for further development. Suddenly, we see the Hive economy expanding at a rapid rate.
Ultimately, it becomes a self feeding proposition.
To me, these are clear paths forward. Some things are already in motion. When we look out of a long term horizon, we can see how things are going to be radically different.
Where will Hive be in 5 years?
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