What is a DAO? DAO stands for decentralized autonomous organization. It is also referred to as a DAC sometimes which, of course, stands for decentralized autonomous corporation or community, if you prefer. I’m sure some watching this video right now are probably thinking to themselves, “this video title sounds like some unsubstantiated clickbait nonsense. Anyone that has been watching this channel knows that I am not in the habit of making unfounded claims, this video is focused on why the EOS blockchain will be so hyper dominant in future and how it can potentially become the first multi-trillion dollar decentralized autonomous organization.
First off, we have to understand that there will not be just one single contributing factor to the growth of the EOS mainchain Network. There will be a multitude of contributing factors, but in my opinion, I believe the core factors are going to be in these four areas: exponential growth, network effect, first mover’s advantage, and highly incentivize loyal community.
The first factor we will go over is first-mover advantage, and for those of you that don’t know, first-mover advantage in marketing strategy is the advantage gained by the initial (“first-moving”) significant occupant of a market segment. While the EOS blockchain is not the first to invent blockchain technology, it is the first to bring a truly scalable solution to the blockchain industry, combined with half second block times, zero transaction fees, inter blockchain communication, and many others. EOS is poised to be a dominant force within the blockchain industry for years to come, combined with the wise stewardship of companies like Block One as well as savvy investors like Mike novogratz, and Peter Thiel, to name a few. This gives EOS the best chance of any blockchain currently operating, to capitalize on the massive potential that blockchain technology offers the world.
There so many possibilities made possible because of scalable blockchain, and the EOS blockchain will have the first truly scalable game-changing companies from a variety of industries built on its network. Industries that specialize in games like massive-multiplayer-online-games, and the EOS blockchain, will have similar social media counterparts to all of the top-down centralized, controlled, social media platforms currently operating today. There is a major difference though, these platforms will not be centralized and controlled by bloated, parasitic corporate management structures, but instead will be streamlined to offer the most value to the users of the platform, rather than the majority shareholders and corporate executive officers, as is the case in traditional corporations.
Thus, increasing user loyalty to blockchain platforms in the first place, EOS decentralized autonomous organization/corporations will be a powerful force in the future. It will slowly but surely takeover the market share of their traditional centralized counterparts. There will be companies like decentralized competitors to Uber operating on the EOS blockchain, that will be able to easily out-compete their centralized counterparts, especially when you consider that the customers of said platforms will be most likely incentivized by cheaper prices, or much more profitable crypto token reward programs, easily accomplished when the over bloated bureaucracy management structures are removed.
The next Factor we will go over is Network effect, which is defined as a phenomenon whereby a product or service gains additional value as more people use it. The EOS blockchain has become the first blockchain to truly solve and bring to market a scaling solution that is truly decentralized. I’m sure many of you have noticed by now that there has been significant migration to EOS from other less scalable platforms. Since this trend is only getting started, and will grow stronger as time goes on, EOS will continue to attract many prominent investors, entrepreneurs, and venture capitalist.
As these groups begin to build new infrastructure on top of the EOS blockchain, this will inevitably attract even larger waves of people which will be the Users/Customers or, if you prefer, the value extractors. Mass numbers of visitors will be drawn to a variety of platforms that are built on top of the EOS blockchain, they will come to use these platforms, because they will be financially incentivized with lower prices as well as various varieties of crypto dividends. In fact, such incentivization will likely become industry standard in future, and the more people that use these decentralized alternatives, the more people that will be attracted to these companies because their friends, family members, and coworkers use them.
Think of it in terms of going to a bank to get a loan, the more money you have as collateral, the easier it is to get the loan in the first place, which, in my opinion, defeats the point, but that’s simply the way outdated traditional financial systems work. But in the same sense, the more people you have using the platform, the easier it becomes to gain greater usage of said platforms, partially because of Word of Mouth which is of course, customers’ friends and family members doing your advertising for you. As I alluded to earlier, consider the new business standards that will be created as a result of successful decentralized platforms. Case in point, when the Facebook platform first got started, it was solely looked upon as a social platform for college kids to keep in contact with each other. But of course, as time has gone on, it has become something entirely different, many marketing jobs now require you to have sufficient Facebook/ social media operating knowledge. In many cases, the new industry standards that Facebook ushered in, have normalized business standards in the use of social media platforms in today’s world of marketing. And these EOS decentralized counterparts will have a similar effect, this normalization of business practices and standards will drive greater usage of social media platforms and Payroll Solutions built on top of the EOS blockchain. Businesses may even dedicate entire departments for the streamlining of such standards.
The next factor is Highly incentivize loyal community, I’ve already touched upon the subject a little bit earlier, but to go into greater detail, users of these platforms will be incredibly incentivized financially. They will earn a significantly greater degree of dividends and rewards, but it’s unlike earlier reward systems, where a company or business would pay you in some barely useful company token which would allow you to redeem a limited amount of items at The Company Store that all smartly sported the company logo. Quite honestly, I don’t even know why some of these companies even bother, If their goal is simply to make their employees walking advertisements. Employees in the future that are actually given a choice between a nearly worthless company point system or it’s crypto equivalent, would likely jump at the opportunity to have a more useful reward, if the individual in question knows anything about cryptocurrencies. Financially incentivizing company employees as well as customers with cryptocurrencies, is going to be a very powerful business model for future businesses.
Today, we live under a centralized corporate tyranny of sorts where massive corporations and organizations constantly spy on our activities and restrict our freedom, through lobbying the government to pass unbeneficial laws that the average citizenry is required to obey, regardless of if he/she knows about the law or even understands it. After all, as the saying goes, ignorance of the law is no excuse. Combined with the fact that the cost of living for the average consumer constantly increases year after year, with ever-increasing higher taxes in exchange for ever decreasing General services. Every year, it becomes more difficult for the average citizenry to become entrepreneurs and participate in the free market to bring forth a new product, good, or service without first paying homage to local officials. They are far too often controlled by influential organizations/corporations who have the resources to perhaps delay a patent your company was waiting on.
My point is that it’s very hard to feel loyal to corporations that are constantly trying to pick your pocket on one hand, and at the same time limit your ability to compete with them on the other. Blockchain technology and the EOS blockchain, in particular, is changing all of that. The new business practices and corporate models that EOS blockchain companies are creating with their token models are finally rewarding the users of the platform monetarily. This powerful model will allow for the greatest number of beneficiaries, and will, at the same time, benefit the companies and questions by increasing demand for their airdrops and airgrabs. Both parties win in this new model, and it will furthermore bolster a more cooperative relationship between corporate organizations and consumers.
Possibly setting the business standards that could have a far-reaching impact not just within the blockchain industry but also within traditional Industries as well. In the past, customer loyalty was something that traditional businesses always strived for, often using reward programs like various types of cash back options, frequent flyer miles, and coupons. Customer loyalty has always been a very important concern for businesses, because it often represented the core customer community of that particular company. Blockchain makes this process much easier than it has been in the past, streamlining this system to such a degree that a business could likely have a new token up and running and integrated within their company within a matter of weeks. And the EOS blockchain makes this process easy and affordable, especially when you consider the zero transaction fees, making the EOS blockchain a natural solution for integrating reward system tokens. It also has the additional benefit to EOS holders, by increasing user/customer integration to EOS integrated businesses, which will increase demand for Eos resources. Currently, we are only scratching the surface of what the EOS blockchain will be used for in future.
Last but not least, the final factor is exponential growth which is ultimately caused by the collective effects of all of the previous factors that I listed above. For those of you that don’t know, exponential growth refers to growth having a rate that becomes ever more rapid in proportion to the growing total number or size. The EOS blockchain will have incredibly rapid growth in comparison to its traditional counterparts, partly to do with the fact that the EOS blockchain is not simply a corporation or company. In a very real sense, it is also a marketplace that will integrate every kind of business you could imagine.
There is frankly very little that cannot benefit from being built on top of the EOS platform, everything from traditional Industries’ payroll services to supply chains, customer reward systems, multi massive online game currency systems, digital collectibles, and even traditional government voting systems, the list goes on and on. Even other Legacy blockchains can benefit from integration with the EOS blockchain, I would imagine it is only a matter of time before we begin to see pegged tokens of well-known Legacy blockchain operating on top of the EOS blockchain, and I know some might say “what’s stopping other blockchains from simply upgrading their system to something similar to the EOS blockchain.”
I would say to that the short answer is entrenched interest, software architecture bias, and risk of splitting core communities, and many more. This does not mean that there will be no attempts by competing blockchain communities to make significant upgrades. But every major upgrade comes with its own set of issues, as in the case of the Ethereum blockchain for instance. Think about it if you will, how many legacy crypto miners would stand to lose, if a legacy blockchain like Bitcoin tried to upgrade from proof of work to delegated proof of stake. They would quite literally have a revolt on their hands. Once a community is built, many of the founding principles of said community become set in stone literally. And unless the community in question has as its founding principle, everything is subject to change. As in the case of EOS, the EOS Community is one of a kind, which, in my opinion, is the EOS blockchains greatest strength, the EOS community is constantly deciding on which way the EOS blockchain will continue to evolve, as I’ve stated before, the EOS blockchain does not have a final form, it is quite literally an ever-evolving blockchain. And because of that, it will be continuously evolving to meet new challenges, and will always be able to integrate new technologies.
Once the EOS blockchain is full grown and becomes a hyper dominant blockchain, it will be very difficult for any competitor to ever surpass it. Especially when you consider that inter blockchain communication will allow for ease of integration to all other blockchains, regardless of how different, given enough time and development. This is just my opinion though, but I would have to say that for me, the most exciting thing that exist about the EOS blockchain is the fact that its governance will be operating in a decentralized way, making the EOS blockchain a decentralized autonomous organization, controlled by its community of voters spanning the entire globe. I believe that a time will come where the simple fact of being an EOS holder of significant quantities will be synonymous with great wealth. And you fortunate few that currently hold EOS in significant quantities will likely be the next generation of crypto millionaires, and even billionaires in some cases. EOS holders, whether you realize it or not, have stumbled onto a once-in-a-lifetime opportunity, and people that allow this opportunity to pass them by will be looked at in the same way as those who traded away bitcoins at 10 dollars. Ultimately, only time will tell.
To all Eos holders, your time is about to arrive.