The global distribution of goods continues to advance at an incredible pace. More consumers are ordering more goods at increasing speeds. And, they expect them sooner every year. Blockchain and cryptocurrencies can help meet the needs of modern supply and demand.
To understand how blockchains and cryptocurrencies benefit the global distribution of goods, one must first grasp how they are different. A blockchain is a digital ledger. Essentially, it is an accounting record that is secured by cryptography. Cryptocurrencies are generally made to run on blockchains for the purpose of establishing a medium of exchange.
The advantage of blockchain is in its data management. By also incorporating cryptocurrencies, users can exchange value and ownership rights. This system would replace the cumbersome coordination of multiple accounting ledgers and regulatory mechanisms involved in currency exchanges of fiat-based systems.
Blockchains have uses for all industries. However, they find their inspiration in operations like aviation. The speed of transactions in the aviation industry demonstrates how defunct the current system of data management has become. Global distribution is limited by the capabilities of its data management practices.
Shervin Pishevar discussed tech monopolies. He pointed out how large companies like Facebook, Amazon, and Google have too much control over information. The main argument is that the information which they so freely take advantage of, and sometimes sell, does not belong to them. This issue has become so dire that the U.S. government is now taking action.
Shervin Pishevar’s argument against tech monopiles applies directly to small business innovation. With tech monopolies guiding the distribution of innovation and the eyes of Internet users, small business innovation cannot meet the needs of the local communities that need their services. Shervin Pishevar and others believe this to be one of the great downfalls of the modern economy.
In terms of global distribution, blockchain and cryptocurrencies become ways to solve the issues raised by Shervin Pishevar. Blockchain offers new accounting solutions for both private and public operations. Cryptocurrencies represent a new medium upon which to fairly execute transactions. Together, they can empower users and streamline global supply and demand.