Being part of a crypto/blockchain project really places things in perspective, as we are trying to strive toward creating technology that accelerates the convenience of our online lives that has a direct impact on our offline ones.
We often hear how blockchain projects can assist us in the real world, from quality control to government auditing, these are some applicational uses that blockchain technology can be utilized for.
However, numerous blockchain networks have struggled to develop a network that can enable on-chain activities to be converted into off-chain services. However, the NetFlowCoin Foundation’s network may have solved this issue.
On-chain payments in return for off-chain services?
NetFlowCoin is a layer one public blockchain that has developed a solution that enables users to share, store, stream, and communicate in an entirely peer-to-peer distributed network. Bringing to life the third evolutionary stage of web 3.0’s development.
Users of the NFC network can purchase streaming rights from other users across the NFC universal network. This has removed the boundary that streaming services can now be paid for, and received, in an entirely decentralized/distributed network architecture.
For example; a traffic miner in the NFC network, can host a series of video content and share access to their mining device with everyone. A user can then purchase (using NFC’s FUL pegged tokens) the streaming rights to access that video content, whether on a monthly fee, or a one-time fee and the user will receive the video, which is an off-chain service.
The entire transaction of the above example is done without any intermediaries involved and acts as a closed-loop economy that rewards the traffic miner in NetFlowCoins, and the user can enjoy the streaming rights given by the miner.
The idea would be to readjust the business strategies of streaming as a service, so that miners can reap the rewards compared to intermediaries, giving people the opportunity to retain 100% value of what they offer across the web 3.0.
Digitalizing our lives?
As we move toward the future, blockchain will intertwine with numerous advances in all fields of technological advancements; if we look at the digital twin concept, and apply it using conventional, centralized, methods, we will see a breakdown in trust among users and services.
But, if we apply blockchain to digital twins, we can address these trust concerns, which makes the concept possible; as every individual could have their digital twin, and any information/data generated about them, stored across the blockchain.
Individuals can then grant streaming rights to their digital twin’s data in return for services, a function that only NetFlowCoin possess, and by doing so, individuals can be assured that none of their data had been stored by any third-party company, this completely changes the way companies and users will interact in the future, creating the perfect balance between the two parties.
Over the years, we envision a sci-fi-style future, whereby we will all be interconnected in some type of digital form, enabling AI, data, and information to govern our lives, for the better that is, and the web 3.0 is the early signs of this future.