Cryptocurrency in the hardware industry is extending beyond just mining and hardware wallets to becoming an important part of the technical usability of both existing and emerging technologies.
In The Beginning
In the early stages of blockchain technology, enthusiasts and participants within the industry laid focus on the underlying protocols and its functionalities. The few blockchain related equipment were basically computer processors that solved the inherent algorithms within the ecosystems in exchange for rewards in the form of tokens. This was how new coins were generated and the process was referred to as mining.
Shortly after then came the era of hardware crypto wallets, most of which boasted of superior security over digital assets compared to other storage systems. These systems are still very much in existence, showing greater improvements and attracting investors of all levels.
Traditional Companies Adopting Crypto
Barely two weeks before the time of writing, Japanese financial services management group SBI Holdings announced that it has acquired 40 percent of the Taiwanese digital currency hardware wallet startup Coolbitx. This is just one of the various companies that are keying into the possibilities and opportunities that are made available by the implementation of cryptocurrencies.
World leading tech giant, Intel is at the forefront of incorporating blockchain technology, creating an algorithm that will run on Intel chips through the use of software guard extensions (SGXs), which are sets of instructions that create enclaves for important data within the hardware. This was born out of the idea of improving two major weaknesses of the technology, in the form of trust and security.
This creation by Intel is propagated as the open-sourced Hyperledger Sawtooth code base an is finding significant partnerships and adoption, a typical example of which is the partnership with blockchain healthcare startup PokitDok. This partnership integrates a hardware component, using Hyperledger Sawtooth and SGX as a route to better secure and protect health records.
Crypto Enables Versatility
As versatile as blockchain technology and cryptocurrency has proven to become, it is already popular knowledge that the principles that govern the system are implementable in almost every industry, just like the internet. The entertainment industry is an area where this technology is seamlessly finding proper and beneficial application, simplifying processes and maximizing opportunities.
In a similar way to Intel’s revolutionary creation, CEEK is opening up the opportunities in the entertainment industry, creating room for a more satisfying experience while maximizing rewards. Already established as a leading Virtual Reality (VR) tech company, with headset is sold at major retailers such as Amazon, Best Buy, CEEK’s success in expanding the population of viewers in the entertainment industry is profound. Now, fans attend events and concerts in real time without necessarily being there physically. Using VR, no matter a the geographical location of viewers, they can enjoy the atmosphere of their favourite shows in real-time. However access to events still remained somewhat restricted and revenue opportunities locked out to the extent which tickets could be purchased. Despite the various payment options available, millions of potential viewers wouldn’t find access because of their inability to purchase tickets.
Achieving Maximum Value
With the launch of a new Smart VR Token also called CEEK, Token holders (CEEKERS) will be able to participate in immersive virtual reality (VR) experiences that grant CEEKERS special access to a tokenized rewards exchange inside exclusive CEEK enabled, virtual reality venues around the globe. This will also offer artist an opportunity of a wider reach, which automatically implies a much more improved revenue target.
Apparently, cryptocurrency and its underlying technology, blockchain is serving as a tool that redefines the social aspects of value transfer. It enables a liquid ecosystem that expand reach and motivates diversification. In its early days, crypto in the hardware industry seemed like an incompatible possibility. But with the already implemented services in this sector, and the potential value delivery that is associated, it is inevitable that several more adoptions will be experienced down the road in this industry.
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