2017, the year of the DAPP.

One of the most important technologies to emerge from the rise of cryptocurrencies and digital money worldwide is the blockchain community. Ethereum was one of the first groups to start aggressively streamlining and customizing blockchain technology for use in every application imaginable, and then some. From health care to banking to online gaming and beyond, Ethereum blockchain technologies have paved the way for the most revolutionary advances in Dapp (decentralized application) platforms and technology.

Power to the people, decentralized applications allow for a wealth of options without crippling regulations.

DAPP, or decentralized applications fit with blockchain technologies like a hand fits with a glove. With Ethereum, there is no board of directors, no “governing body” to issue obsolete rules and regulations and no central authority to ensure adherence to regulations. Self-executing smart contracts establish ground rules, contractual liabilities and the user moves forward from there. Adherents to the technology are looking at how to replace centralized authority in every field possible.

Innovators are now applying dapp to a multitude of online services.

Dapps are growing in number and strength thanks in part to the Ethereum blockchain. Leaders in the dapp field have rolled out multiple online service offerings ranging from fully completed platforms to working prototypes. Here are some of the initial programs being touted worldwide:

1. Managing identity security for users. Digital fraud and identity theft constitute 2 of the most damaging criminal behaviors in the world today. KYC-Chain is a platform built over the distributed ledger tech of Ethereum that allows users to manage their digital identity safely and securely, while businesses and enterprise can secure client data effortlessly. KYC’s identity wallets will leverage the highest level of Know Your Customer (KYC) technology, simplifying a user’s experience when transacting with a business or a person. One of the ways this is accomplished is through the wallets being able to share only the necessary data with a B2B or P2P entity, while protecting all other data stored in the wallet. Slated to start in early 2017, the dapp world eagerly awaits this start-up company to fully engage at a global scale.
2. Aiding business starts in impoverished nations. 4G Capital is giving instant access to credit for businesses and growth throughout Africa. Focused on start-ups and smaller businesses, 4G accepts donations which are then distributed through the ledger to those who have requested aid. 4G’s system converts the donations, and establishes the rules for loan repayments. The emphasis of this tech is to empower those who would have never qualified for a loan. Empowering individuals and communities to engage in, and benefit from business will have a profound effect on financial solvency of entire communities. 4G will also offer (free of charge) consulting and training to further the chances of success for the borrowers.

Removing central control for the benefit of all.

The benefits of stepping away from central control structures at all levels is a good thing. The more one group can centralize and hoard power over any industry, the more people will suffer the consequences. Cryptocurrency and blockchain technologies are speeding the transition from centralized control to distributed ledger faster than anyone could have imagined. From this fertile ground sprang dapps, with their multitude of application possibilities and platforms. This is how everybody benefits from blockchain technology.