The web is supposedly going through a period of revolution. WEB 3.0... The Decentralized Web. But most people are not aware they will be witnessing how the future generation of the internet is going to unfold in front of their eyes. Most developers don’t really understand what blockchain technology offers, and using blockchain and headless content management systems for the future of web development is at its infancy.
Web developers are no exception to this.
What we all need to understand is the fact that blockchain technology has the capability to change the very fabric of our web experience from seemingly trivial and non-encouraging interaction on social networks, through decentralized storage protocols which will render certain applications obsolete or not worth using at all, up to more complex concepts such as smart contracts which will give us unprecedented freedom of interaction and economy/money exchange in the digital domain.
Let’s just start with a small history lesson on blockchain technology. I would like to use a couple of examples to bring this important topic down from the theoretical realm. Blockchain, used to create cryptocurrency , started as a platform for Bitcoin in 2009. It was the first networking protocol to use the proof-of-work (POW) system for decentralized, distributed and trustless processing of transactions. The most important achievement of blockchain is its ability to make trust possible on the network without the need for centralized control.
Emerging languages such as solidity or simplicity are changing the game and we can see the network is quickly gaining maturity over time. This is why some of us believe smart contract platforms like Ethereum are going to change our daily life in areas such as insurance, health care, law, finance or real estate. Smart contracts will make it possible to automate business transactions in a way that has never before been seen.
At Cause of a Kind we are exploring the possibilities of decentralized financial software and the reach of blockchains capabilities.