Blockchain, as a transparent and immutable source of truth, can serve as a tool for information verification in both the digital and physical worlds.
Source: cryptoslate
Translation: Blockchain Knight
In the past two years, crypto asset developers and venture capital have been overly focused on supporting infrastructure projects, neglecting consumer-facing applications.
Looking around the crypto asset industry, one can find a plethora of tools available for developers to integrate privacy features, decentralize information, and scale platforms, but there is a lack of applications that can utilize these tools.
Blockchain may provide a solution to this problem.
Moreover, crypto assets and underlying blockchain technology have the potential to fundamentally change the way we interact online and in reality.
In particular, blockchain as a verification tool can address the increasingly severe crisis in the consumer goods market by providing an immutable source of truth for verifying information.
In this field, more people need this integration with the physical world, which can be referred to as "Non-Fungible Tokens" (NFTs).
The collapse of the NFT market and the failure of the metaverse, coupled with the arrival of the crypto winter, have led many developers to retreat from consumer-facing applications and focus instead on improving decentralized infrastructure.
In the same year, media coverage of the FTX bankruptcy severely damaged the industry's reputation.
Perhaps it was not the right time to attract mainstream users, while developers focused on solving issues such as scalability, user experience, and security.
Now, these aspects have improved.
Zero-Knowledge (ZK) Rollups have enhanced the speed and efficiency of layer one protocols, account abstraction has achieved a Web2-like user experience, and from the first quarter to the second quarter of this year, the number of hacking incidents has decreased.
This year, BTC and Ethereum ETFs have been approved, stablecoins and the tokenization of real-world assets have gained mainstream attention, and BTC prices have reached an all-time high.
For builders of decentralized applications, now is the best time to expand their business to Web2 users and enterprises.
It just needs to be proven that blockchain is not merely a speculative asset platform.
Blockchain, as a transparent and immutable source of truth, can serve as a tool for information verification in both the digital and physical worlds.
This year, the second-hand clothing market alone is valued at approximately $230 million, while the second-hand collectibles market is valued at $134 billion.
It is foreseeable that with the development of the second-hand goods industry, from eBay to Depop and The Real Real, the opportunities for counterfeiting are increasing.
In fact, by the end of this decade, the value of the counterfeit goods market will reach nearly $2 trillion.
Imagine if there were an on-chain certification solution that could verify the origin of goods; it would create unprecedented opportunities for integrating blockchain into the fashion and luxury markets.
In the digital realm, the development of decentralized finance (DeFi) means that more and more people are beginning to trade assets without centralized participants.
While privacy is a core value of DeFi, a method of verification is also needed to prevent fraud. Blockchain verification tools can be used here again.
Blockchain and artificial intelligence can be combined to improve verification methods.
Currently, verification is done by individuals. However, AI can achieve image and pattern recognition and object detection on a larger scale. Blockchain can be used to store the information collected by AI tools to provide secure records.
NFI brings real-world practicality to NFT technology.
By linking physical assets with a "digital twin" on the blockchain, NFIs can serve as powerful verification tools.
For example, if a user wants to create a luxury watch, a private crypto key can be embedded to verify the watch's origin, preventing it from entering the second-hand market.
Why should brands invest in this technology?
Because if buyers can guarantee returns in the second-hand market, it can bring greater value to the asset. This is not limited to watches; shoes, jewelry, and collectibles can also be verified on-chain.
Therefore, fashion and luxury brands have not completely abandoned NFTs.
The 9dcc fashion collection linked to NFTs debuted at this year's Paris Fashion Week, inspired by digital innovation.
The younger generation is also increasingly concerned about the manufacturing industry's impact on the environment. Seeing brands embrace the circular economy through blockchain certification greatly benefits their marketing.
For a long time, developers in the crypto asset industry have been looking inward, focusing on issues unrelated to ordinary people.
The industry is maturing, and we need to embrace use cases beyond finance.
Verification is a key area where blockchain can provide better solutions than existing technologies. The winter of crypto assets has passed, and now is the time to bring back ordinary people.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
