We are jammed and packed with special guests in today’s episode. We will talk about Techtalk: Apps, Crypto, Blockchain & More with experts from their own fields. We have Bernard Boodeea of Life Intelligence Group, and special guests Riley James and Sian Mathias of DEFI LINK.
What is common among people these days is that they have multiple apps installed on their devices, but less than 70% of it is used. These apps are supposed to help with productivity. But not all of them are utilised to increase output and results. One of the problems that may have caused this is the duplication of an app.
When one becomes popular, another version comes out, and we check it out. Whether we use it or not, it sometimes stays on our devices. The purpose is the same, and sometimes these apps are not even useful for you. Some developers create versions of these apps, overwriting what the other has done, yet there is no market for it.
Currency and token exchange are also exponentially increasing. This area has little growth since the construction can be copied and pasted. The only challenge that may come is selling it, but if you are great at marketing and you have the proper connection, this would not be a complex area for you. Cryptocurrency is all about branding and marketing. It can easily be marketed if your brand is a trusted brand and you have a trusted community.
Regardless of the app, you are using. It is all about building trust and creating the best user experience. Most apps have developed a way to incentivise users to keep using them. If other apps are similar, those will remain redundant and unused.
There is a higher percentage of Dapps users compared to crypto users all over the globe. There are about 200 billion dollars locked in different Dapps but only 2 trillion dollars locked in on Crypto. This means that a tiny percentage of Crypto users are using it properly.
These people are the ones that can do whatever they want to do with their assets. They can start connecting their Metamask wallet and practically do anything without disclosing their true identity. They can lend their assets to different individuals or platforms. In the coming days, this can happen to all industries. Everything can be tokenised, and you can do all transactions this way.
Many people are trying to adopt blockchain for data storage and solutions, which could not be a good application, as seen by Riley James. Standard cloud storage and regular enterprise data with a typical, secure server would suffice. There is nobody interested in hacking it. Thus, there is no need to put it in a decentralised network, especially since it is expensive.
The real purpose of blockchain is Defy to hedge against the crash in 2008 when Bitcoin was created. It was designed for the movement of assets, currency or NFT or anything with a sense of value. Because blockchain technology protects these, the possibility of anything being hacked or jeopardised is eliminated.
The development of technology, whether apps or Crypto, is growing massively and quite fascinating. The user experience seen today will not only improve but will be developed in many ways. If this is your area of expertise, it may be high time to build your own app.