Blockchain is a technology that has become widely known through its application in cryptocurrencies, stirring the waters of the financial industry. Today, many are wondering what this technology is and whether it can really change the rules of the game not only in the financial sector but also in other sectors of the economy.
The answer is that it could probably change the rules of the game because the key feature of this technology is that it has the ability to create an open culture of rules capable of eliciting creative orgasm based on the synthesis of many different entities. Synthesis is easily achieved by the fact that blockchain technology enables if one has an idea, another who can be on any side of the globe can improve that idea. The improved idea can be further improved by a third party who re-adds his own idea, which can also be improved by someone else and so on.
The collaboration of many different entities takes place without being defined by a central control system because blockchain technology ensures decentralization, which means that no one can control the rules, so arbitrariness is avoided.
These two elements, that is, the ability to continuously self-improve an idea, through the decentralization provided by blockchain technology can really change the rules of the game.
A typical example of the change in the rules of the game due to blockchain technology as well as the huge growth of the industry is the web gaming industry. In 2020, the global web gaming market was worth $ 150 billion, about four times as much as the entire film industry.
The Gaming World Championship, which is essentially based on blockchain technology called League of Legends, was attended by 44 million people, indicating that a new trend and a huge new market are now emerging in the game market. A web game can now be played by billions of players around the world while developing skills in it can generate revenue for players. Players can make friends all over the world, and even build business relationships through games, and as games are the new social media, they also become the means of generating a decent income.
In fact, it is now possible to duel with digital opponents and if you win them, you can be rewarded for example with 1,000 euros, whether you live in Europe or Africa. An amount of 1,000 euros may not mean much to a citizen of a developed western economy, but for a low-income African citizen, it can be a fortune. There are countless variations on participating in a web game and in several of them, one has the opportunity to win a satisfactory amount of money. This means that, with the application of Blockchain technology in other areas of entrepreneurship, the gap between countries could potentially be reduced.
With web gaming, someone can achieve very good returns, which one will hardly find in traditional forms of investment. So, it is no coincidence that even specialized funds have been established, which invest in NFTs (Non-fungible tokens) of different games.
Eventually, the web gaming industry is likely to be the way NFTs and cryptocurrencies will penetrate people’s lives. Especially in developing countries where there are no social benefits and unemployment due to the pandemic is soaring to unimaginable levels, web gaming is a way out of the economic crisis and psychological pressure, as now people have a chance to escape reality to generate income by living the experience of the digital world.
In fact, all the above suggests that blockchain technology has changed the rules as we know them today. It seems that we are now entering a new reality where experts, like gaming experts, will now generate income and wealth in every corner of the globe.
The web game industry based on blockchain technology is a remarkable example that shows not only the structural changes in the nature of work where, experts will gain a competitive advantage but also the structural changes throughout the business, as more and more people and businesses will participate in larger communities, as in gaming communities. Similarly, it is the model followed in cryptocurrency communities where the participation of many experts from all over the world in cryptocurrency communities is a fact.
It seems that as time goes on, this model will expand into more and more branches and activities creating global communities that serve common purposes. Eventually, it is very likely that the blockchain is already changing the model of the business activity in the economy, as we have known it until today.