Blockchain and crypto at some point in the future has to cross over into the real world through use cases and this is when the real value of this new technology will be seen by the masses. Up till now if we were truthful with ourselves there has been not much to celebrate with regard to real world use cases and the reason behind this is the development takes time and only once these use cases are created will we see the adoption take place.
COTI along with SODA LABS developed Garbled circuits which is an encryption technology that maintains privacy when doing transactions. The parties involved can see there side of the transaction and no one else can even though the transaction is on the blockchain. The transaction is still transparent, but not revealing all of the crucial information.
Last week COTI announced a new partnership with StaTwig which is a company that deals with cold storage and logistics solutions for vaccines. They handle the storage transport and distribution for 100 million vaccines annually so they are a big player.
StaTwig's product is called Vaccine ledger which tracks the vaccine vial from manufacture right through to the end use case when the vaccine is administered. The vaccine by this point has a history revealing data like the temperatures where it was stored and who handled this along the way. This is a tamper proof way of ensuring the end product is the same product that left the manufacturing laboratory.
If the vaccine is not in the correct temperature there will be encrypted messages sent triggering a warning. These messages are all placed on the blockchain as transactions and are encrypted for those individuals to see who are part of the transaction.
What is quite interesting to note is to look at COTI's current activity with regard to transactions which is from April this year when the new COTI V2 privacy tech was launched and went live. 53.4 million transactions have taken place which highlights how early this still is hen you consider StaTwig will on it's own do close to 500 million transactions annually. 100 million vaccines moving around the globe with tracking and traceability plus the updated signals on temperatures etc will add possibly 5 transactions or more per vaccine totaling more than 500 million transactions. That is nearly 1.4 million transactions daily so one can see what a partnership can do when it comes to blockchain transaction numbers.
The real world use cases is where the numbers lie and the sooner crypto and blockchains cross over the sooner adoption takes place which will then reveal the real value of crypto. Crypto has not even started to show their true potential with regards to real dollar values as yet and this is all hype and speculation thus far.
One could imagine how things can change very quickly when you have 100 equivalent companies doing the same types of numbers of StaTwig resulting in hundreds of millions of transactions being processed daily. This is going to happen with COTI fairly quickly as they are the leading tech with privacy for blockchain real world use cases and the numbers we see now are chicken feed compared to what we will see within the next 5 years.
The exciting part is these transactions will all be charged earning service fees for those invested within COTI and distributed via the APR. Patience is required whilst the team and developers grow the blockchain and it's use cases. Nothing is ever guaranteed but we can see this is a done deal with what COTI have lying ahead of them and the future is looking better than good. Throw in the Digital EURO to the mix and you are looking at trillions of transactions annually.
Posted Using INLEO
