WHAT ARE NFTs? A FAD OR THE REAL DEAL?

Now that we understand cryptocurrency fundamentals and are busy creating our ecosystem at Markethive, there’s a craze that has emerged in 2021, and it’s a thing called Non Fungible Tokens or NFTs. Although NFTs are not new, they have only recently become more popular among blockchain enthusiasts, artists, and collectors. 

To some, the cryptocurrency booming NFT market makes little sense at first glance. Nobody in their right mind would shell out millions of dollars for an NFT, yet this is happening almost every day. As it turns out, there is much more to NFTs than meets the eye, and some of these NFTs are only beginning to realize their fair valuations. 

What Is An NFT?

NFT is the acronym for Non-Fungible Token and is described as a unique digital asset or a digital representation of an asset that stores information about that asset on a cryptocurrency blockchain. This makes it permanent; it cannot be replicated or counterfeited, and ownership is provable. 

NFTs are created using Smart Contracts, which are essentially self-executing computer applications that cannot be modified once they've gone live. Depending on the smart contract conditions, it can allow for the creation of one or multiple NFTs of the same or similar kind.  

NFTs cannot be counterfeited because the blockchains they exist on are almost always publicly viewable and transparent. This means anyone can check if an NFT came from the smart contract belonging to the person who originally created it or from a different smart contract made by some imposter. 

The openness of cryptocurrency blockchains is also what makes ownership of these NFTs provable; you're able to easily see which wallet address is holding the NFT token you’re in which you’re interested. 

NFTs have technically been around since 2012 when colored coins were introduced to Bitcoin. These colored coins made it possible to add unique attributes to specific BTC coins to represent currencies and expensive artworks. 

Today, NFTs are more commonplace on Blockchains that utilize smart contracts as they do a much better job of minting and managing unique digital assets than Bitcoin. There are growing communities of NFT marketplaces and creators on several artworks blockchains. 

Almost anything can be represented by an NFT, including artworks, title deeds, web domains, collectibles, audio files, and even people’s identities and tweets. Ownership of the NFT can signify ownership of the asset it represents, though not necessarily the copyright to that asset.

How Do Fungible And Non-Fungible Tokens Differ?

The difference between fungible and non-fungible is that fungible tokens can be freely exchanged with another asset of the same denomination. For example, one bitcoin is worth the same as another Bitcoin regardless of who’s wallet they're in or what price they are trading. Any fungible coin is exchangeable and interchangeable with another fungible coin.

Non-fungible assets have a unique value. Sports trading cards are a perfect example; One card can be deemed more valuable than another and be sold at a higher price because it’s perceived as more valuable to the collector. 

Crypto Punks and Crypto Kitties are other NFTs are selling for over $100,000, and if you want to get a sense of how big the NFT market is, go to nonfungible.com. There, you’ll find the trading volumes of many popular NFTs, including Decentraland and Sandbox.

 

Jack Dorsey, CEO of Twitter, sold his first tweet on Twitter as an NFT for over $2.9 million, and the most expensive NFT sold for $69.3 million by Mike Winklemann, more famously known as Beeple. 

So the question you might be asking yourself; who is buying this stuff and why? 

Simply, it’s human nature to want to collect things, which has been the case since the beginning of time. NFTs represent the same obsessions that people have always had with owning certain things they perceive to have value. Some people get tremendous satisfaction by holding postage stamps and are willing to pay considerable sums to fill gaps in their collections. 

From a purely economic standpoint, when something is scarce or unique, it makes it open to having a lucrative price tag regardless of whether it has any objective utility or value. The Italian guy who sold the banana he duct-taped to a wall for $120,000 certainly proved this point. 

Constructive Force Of NFTs

To some, NFTs may seem nonsensical and a bubble about to burst, but they do have the potential to be a force for good, allowing artists to profit from their work without the intervention of middlemen like dealers and galleries. Because NFTs are built using smart contracts, they can be coded to ensure that, when sold, the creator can automatically be granted a percentage of the profits. In this way, artists can continue to earn a living from their work.

An example of this is Audius. Audius launched in September 2020 and made it possible for artists to stream directly to listeners while keeping the significant share of the money they make and are giving Spotify a run for their money with already over 3 million users. 

Another excellent example of NFTs with utility and value is blockchain domains. Unlike regular web domains, blockchain domains cannot be censored or taken offline because they are hosted on a decentralized blockchain instead of a centralized server. 

Some blockchain domains like .crypto also don’t have any renewal fees; it’s a one-time payment and yours for life. Notably, blockchain domains make it possible to accept cryptocurrency payments without a complicated wallet address. You can use a name of your choice instead of a random set of digits. 

Now, even though some of these NFTs have objective utility and value, it still doesn't justify the astronomical price tags you see for many of these. This just proves that most of the interest around NFTs currently being seen is caused by hype. And that most of the people presently buying NFTs have very deep pockets and probably too much free time on their hands. Arguably,  most are looking to make a quick buck by selling and or reselling NFTs.

There are even YouTube channels dedicated to flipping Crypto Punks or flipping plots of land on the Decentraland marketplace. There's also no shortage of video tutorials to help you mint your own NFT. If you want to go shopping for NFTs, your best options are Rarible and Open Sea. You'll find just about every kind of NFT on these sites, including art, blockchain domains, virtual land, digital trading cards, and other collectibles. 

If you want to browse tweets as NFTs or even mint your own tweets as NFTs, you can use the valuables site. Now before you dive into the NFT deep end, there are a few things you should know about the NFT market. 

 

Things You Should Know

Unless you're buying an NFT from a well-known artist, like Beeple, it can be tough to tell whether the NFT you're looking at has any real value.  In theory, you can check this by reviewing the “sell history” of that NFT to see if there's any demand for it. 

However, many sellers are minting NFTs and then buying them from themselves using other Ethereum wallets that they own. This creates an artificial sell history and gives you the impression that the NFT you're interested in has some market value. It's basically a solo version of the wash trading you see on many sketchy cryptocurrency exchanges. 

There are also a lot of sellers on NFT marketplaces pretending to be museums and art galleries. Sometimes they're even marked as a verified seller because they link to a dummy account on Twitter. These fake museums and art galleries sell high-quality images of semi-famous artworks found on Google as NFTs for a nice profit. 

Besides the risks mentioned above, there are a few others to keep in mind. The NFT market is clearly in a bubble, and unlike the crypto Market, there's going to be little to no support on the way down. This is mainly because the NFT market isn't liquid, and there's also no definitive way to determine the fair value of an NFT. 

A safer alternative to NFTs is the tokens that power their various marketplaces, but still, most of these NFT project tokens are in bubble territory. Both Coinmarketcap.com  and Coin gecko have designated tabs for NFT project coins. There are a few marketplaces pundits are watching closely.

Audius
As mentioned earlier, the Audius decentralized streaming platform is on their list. It’s common knowledge that musicians have been getting squeezed by record labels and streaming platforms for years, even decades. This pandemic certainly hasn't helped things either. Audius is a platform for artists to stream directly to listeners and keep the lion’s share of the proceeds. 

Although Audius has an excellent value proposition, there is an issue with its tokenomics. The Audio token has a supply of 1 billion, with a 7% annual inflation rate, and only 5% of Audio’s initial supply was airdropped to artists and fans. The other 95% has been allocated to the team and private investors and seen as a red flag. 

 

Chiliz
Chiliz has a great value proposition and is just as good as Audius. Holders of the $CHZ token can purchase fan tokens for sports teams such as FC Barcelona, a fan token called FCB. Also, holders of Chiliz fan tokens have a say in how their respective sports teams are managed. 

Most of these tokens are traded on the Chiliz exchange against $CHZ. Chiliz is expanding in terms of partnerships and adoption, and there seems to be much more to Chiliz than just the fan tokens.  

 

Decentraland

Decentraland is a VR platform powered by Ethereum. It allows users to claim parcels of LAND in a virtual world where they can create content, build applications, and then monetize them. In Decentraland, you can buy, sell, trade, and even create an NFT that can be used within this virtual world. 

In contrast to Audius and Chiliz, its MANA token has more robust tokenomics. It is said to be one of the most transparent and equitable distributions out there. No single wallet holds a concerning amount of the total supply.
 
Decentraland has limited plots of virtual land, which have sold for over six figures in the past. The strength of the MANA token comes from the fact that it's burned when a purchase of land takes place and burned when paying for fees for other Marketplace transactions. 

MANA token burns will grow as it continues to onboard users and secure new partnerships like the recent one with Atari, bringing virtual cryptocurrency casinos to Decentraland.

Giving it more weight is that Grayscale Investments, the world’s largest digital currency asset manager, has recently incorporated an investment trust for Decentraland and the MANA token.

 

Theta

Theta is a decentralized video streaming protocol that will likely rival YouTube, the same way Audius is likely to rival Spotify. If you think that’s a bit far-fetched, consider that Theta has partnerships with Google and Samsung and recently partnered with Sony's European arm.

Unlike other cryptocurrency partnerships, Theta’s affiliations are very real. Case in point; Theta.tv is embedded into Samsung Daily, which came pre-installed on over 75 million Galaxy smartphones that authentic people are currently using.  

Furthermore, Theta token probably has the best tokenomics of any NFT related project. It has a fixed supply with no inflation, and 100% of that supply is also technically in circulation. Theta has consequently seen very little resistance in its rise from five cents to over $6 over the last year. 

 

The State Of Play

The NFT market’s popularity is at an all-time high at the moment, but it’s only a matter of time before that bubble bursts. The aftermath will show that the projects with real value will be the ones that survive like blockchain domains, among others, and also some NFT art. There are currently talks to create virtual museums and art galleries for the pandemic-stricken legacy art industry where valuable art pieces are collecting dust. 

The possibility of showcasing NFT art in real life in your home using augmented reality is discussed in this article and the obvious next step from virtual NFTs. But what about NFT and Defi? Believe it or not, it’s starting to become a thing. There are already peer-to-peer marketplaces like NFTfi.com, where people can use their NFT as collateral to borrow stable coins. 

Like the fungible crypto coins, we need to identify the utility and purpose behind these NFTs and marketplaces and beware of sketchy or scammy projects. The many industries like sports, gaming, collectibles, art, and music are all starting to embrace NFTs. 

The idea of owning something entirely digital may seem crazy to some of us, but to those who already spend large amounts of their lives online in one form or another, becoming a second home, it just seems natural.

Just because something doesn’t physically exist doesn’t mean it can’t be owned or that someone else might someday be willing to buy it from you for more than you paid for it. Although having said that, expect sales of digital photo frames to start going through the roof.

A recent survey conducted with millionaires revealed a generational divide when it comes to non-fungible tokens (NFTs). While most millionaires say they don't know what an NFT is, more than a third believe it to be an “overhyped fad.” But a good two-thirds of millennial millionaires say NFTs “are the next big thing.”

Nearly half of millennial millionaires surveyed own NFTs, and 40% of those who don't currently own one have “considered” it. Comparatively, almost all the baby boomer millionaires, 98%, say they don't own any NFTs and aren't considering either.

 

 

Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty.  I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.

The information contained in this article is for informational purposes only and not to be construed to be financial legal or tax advice. Any NFT’s mentioned in this article should not be interpreted as a sign of support. 

 

 

 

MARKETHIVE’S NEW INTERFACE – AN INITIAL OVERVIEW ILLUSTRATED

An innovation that is set to change the way we work and interact online. 

The Markethive Social Market Broadcasting Network becomes more prominent daily as the blockchain-driven ecosystem for entrepreneurs with a non-adversarial, bi-partisan free speech ethic and the collaborative culture we rarely see on social media platforms today. Even the newer acclaimed free speech platforms are partisan to the left or right and deal with deplatforming and boycotts from payment providers.

It’s widely notorious that the actions of the tech giants have divided nations and are the source of countless societal harms, including rampant censorship, promoting violent extremism, spreading false information, and unfairly stamping out its competition. 

Instead of improving the user experience to one that users would welcome, legacy big tech is somewhat distracted by its self-induced problems. It’s now under scrutiny by government policymakers with the overall consensus that something should be done to reign in the centralized power or structurally break up the technocracy. 

To circumvent this, Facebook is focused on updating the internet with new regulations to appease critics and leverage its new Oversight Board, while Twitter grapples at the idea of integrating a more decentralized approach to the platform, specifically giving users an algorithmic choice by opening up its news feed to third party algorithms selected by its users, which could undoubtedly customize the user experience, but still be under a central authority. 

 

Markethive Goes Next Level

Known for its evolutionary and innovative ethos, Markethive continues to expand its decentralized “all-in-one” platform with the development of a unique news feed interface that completely embodies the user experience (UX) in the framework of “don’t make me think.” A concept brought to light by author Steve Krug, a usability expert, cites that usability is fundamentally about human psychology. 

The book “Don’t Make Me Think” was first written in 2000 and revised in 2013. Since the turn of the century, technology has changed rapidly. Yet, the principles in the book remain the same because something is only considered usable if an average person can figure out how to use it to achieve an outcome without it being more trouble than it’s worth. Krug breaks this down into three laws as shown in this infographic below:

Key Quote

“Usability is about people and how they understand and use things, not about technology
…while technology often changes quickly, people change very slowly.”

Once it is understood how the human brain works, these same insights can continue to be applied even as technology and landscapes evolve. So usability is not just about technology; it’s about understanding how people think and behave to build better things, giving the user a more seamless and more straightforward experience when navigating.

Unlike the social media giants, which only have one primary news feed that is algorithmically set by the central authorities, Markethive is introducing four news feeds to accommodate the multi-functional platform within the Markethive ecosystem. The individual feeds are General, Video, Blogging, and Content Curation. They are all accessible from the main page and can be algorithmically set by the individual user. 

The scope that Markethive has is enormous as it integrates all the vertical systems of the other platforms under one roof. 

Social + Video + Blogging + Marketing + Curation + Broadcasting = Markethive. 

It’s a monumental project that can be overwhelming for the average person. It’s no wonder social media platforms are predominantly single-function and centralized. Technology has advanced with Blockchain, and Crypto is becoming ubiquitous and gives rise to the decentralized, privacy, and autonomy components of social media. Something that the established dinosaurs would find near impossible to integrate at its highest level.  

Enter Markethive, and although it has enjoyed longevity, it can integrate cutting-edge and unique systems. It is next-level, delivering every function and aspect available, fitting for the entrepreneur, business, and corporation. A clean design, not cluttered, intuitive for easy navigation, and simple to carry out tasks for all users on every level is crucial for website stickiness and the overall success of our entrepreneurial users.

 

The New Main Page Interface Explained

The following images are a basic mockup or draft, subject to enhancements, to give you an idea of how the new main page will look with the various news feeds and menus. It is definitely something to look forward to upon its integration. 

 As quoted by CEO and Founder of Markethive, Thomas Prendergast,

“We are making major changes right now to the entire layout and aspects of the system. New look, better navigation, rebuilt Page making system, improved alert system, all in preparation of the Wallet. 

Understand this major uplifting has been in the works for several months, and we are close to its completion. Along with this are new upgrades, The Boost, The Wheel Of Fortune, The Premium Upgrades, etc.”

The format is horizontal, not vertical, like many other websites making it more readable and less time-consuming in terms of navigation. The vertical side menus are gone, along with the busy text in the blue bar. 

At the top of the main page are the Super Banners. This is prime real estate and specifically for Markethive, the company. There are currently three banners to be displayed in this space;

1. The Wheel Of Fortune
2. The Entrepreneur One Upgrade (while they’re still available) 
3. Acquire Your Own Golden Goose – ILP

Anyone else inside or outside of Markethive wanting to place a banner there will pay top dollar.  
The real estate below the blue bar is for the markethive community and placement of their banners.

Compress Banner Real Estate

The X in the top right corner, when clicked, removes the Banners and tray, allowing the HTML editor and news feeds to move upwards. Clearing that real estate gives you more space to work, which can be very handy on a small screen like a mobile or tablet. 

This feature is for Entrepreneur one upgrades only, so the X will only be visible to upgraded accounts. The banners and tray will continue to be hidden while the user is active within Markethive. They will return and be visible once the user becomes inactive for 30 minutes or more or logs out. 

Floating Banner Ads

There will also be Markethive floating banner ads which can be closed for a thirty-minute period unless you’re an upgrade, in which case it stays closed for the duration of your stay. If clicked on, it will take you directly to the area any given banner stipulates. For example, the Wheel Of Fortune floating banner, shown in the image below, will take you directly to the shopping cart. 

There are numerous floating banners, as described below, that will sequentially be displayed, giving you easy access to wherever you choose to go with just a simple click on the banner. 

• Wheel Of Fortune. Every spin is a winner. 
• Banner Impressions Exchange. (BIX) It takes you to the exchange 
• Acquire Your Own Golden Goose – ILP. It takes you to the shopping cart. Payments in Hivecoin.
• Entrepreneur One Upgrade. It takes you to that dedicated shopping cart 
• Community Support. It takes you to the Telegram Markethive support channel until we integrate a customer support portal within the Markethive system.
• Markethive Tutorials Get Paid To Learn. Currently in development and will be covering the fundamentals of the Markethive system through setting up marketing campaigns, video, and influential marketing.

Multiple Pulldown Menus 

Multiple pulldown menus will be replacing the side menus on the main news feed page and the profile page. These are now all accessible on one page on the blue bar under Settings, Shopping Cart, and the Notifications bell icon also named Alerts Control. This allows you to configure the blue alerts bar and provides click menu navigation. 

All the settings displayed that could only be accessed on the left of the profile page are now accessed on the main interface, including general profile page settings, payments, Vault, ILP purchases, login account, social accounts, and hive ranking. This makes it a lot easier to navigate and is much more intuitive. 

There is also a pull-down menu under Shopping Cart that displays the status of your cart (whether it’s empty or has items pending in it). 

The shopping cart menu takes you to the Markethive store and the Advertising services, which are strictly for the Markethive Press Release program, the Boost, social network broadcasting, digital banner advertising, and video advertising. As these services are introduced, you will find them in this pull-down menu. 

A series of upgrades will also be displayed under the shopping cart. Currently, there is the E1 upgrade and soon to be added the Apprentice Upgrade, which will be renamed the Premium Upgrade. There will ultimately be multiple levels of premium upgrades which will all be located in the shopping cart pull-down menu. 

For the purpose of this article, the image below displays all pull-drown menus opened and can be accessed by clicking on their respective icon. 

Combined News Feed – The New Innovation

Now for the pièce de résistance and Markethive’s claim to fame. The combined news feed interface is a first in the social media environment. It includes the four primary feeds being the general Newsfeed, Blog, Video, and Curation feed. 

So what’s the big deal about a news feed?

The news feed is the heart and lungs of Markethive. Everything around it is the bones or structure of Markethive. It all starts at the center, being the newsfeeds and works outwards and is the dashboard or control center, where every aspect of Markethive is easily accessible. 

The combined pulldown menu also includes the Groups feed, Campaigns, Games, Store, and Email feed which can also be set algorithmically by you. You choose what and who you want to see in your combined news feed. 

You can choose only to see what you’ve posted, select by geo-location, friends, Tube feed, Blog feed, Group feed, etc. You can access these configuration tools in the tray just above the HTML editor, housing the stats tools, tracking devices, posting tools, sorting and filtering tools, editing, and upload tools.  

Posting in a news feed has become a lot more exciting with the ability to stylize your text (bold, italics, text size, font type, hyperlinks) add embed videos and images, similar to the current blog editor. 

Whatever task you do, you will access it from the combined feed pull-down menu. For example, if you want to upload a video in the Tube Feed, it will open up the tool page for you to upload it. 

You do not leave the main page for any task you perform. This is where you access all your interfaces. E.g., The video upload interface, the blogging platform, the curation control panel, etc. You will be able to add, edit and monitor everything you do right from the main page. 

Whatever you choose to see in your combined feed will be displayed: Videos from the Tube Feed, Blogs, Capture Pages, Groups feed, General postings, everything will be displayed on the page.  

You will also be able to subscribe to any post in your news feed right from the main page. Each post generates a permalink that will show when the post is broadcasted to other social media sites, displaying the profile page with a summary of the post as illustrated in the image below.

The comments are also displayed in the permalink popup. When clicked on to view or comment, it’ll forward the viewer to Markethive. If the viewer is not a member, a registration banner will pop up inviting them to join Markethive. 

Clicking on the permalink also allows the viewer to peruse your other posts. You can also tip and comment on the post on the main newsfeed page or the permalink popup. The timestamp displayed next to the permalink will show the hour, day, month, and year. No more wondering what year the post was posted! 

In Closing…

Everything is at your fingertips on this one page, making it very intuitive and mobile-friendly. The dynamics will change completely, and you won’t have to navigate to individual pages within the Markethive system. All configuration, filtering, and searching are done right from the combined news feed interface. 

Posting any of your content remotely, whether it be blogs, videos, or general newsfeed posts, will be made instantaneous and straightforward with the new interface. Markethive will be infiltrating every corner of the internet universe and become a household name.  

The whole interface is streamlined and purposely created in a horizontal fashion with minimal to no advertising, so it is not overwhelming for the average and new user. So many websites, blogs, and digital media articles are so cluttered up with vertical side columns and advertisements, making it annoying and virtually impossible to read or comment on the site. 

Markethive has always been a pioneer and ahead of the curve, initiating a social network before social media became a thing, starting with Veretekk in the nineties. It is a Divine inspiration, a vision that is coming to light. It’s one of integrity and can command authority with its clean, polished new look and navigation.  

So what we have here is an outline of just part of what’s coming in Markethive. There is much more to this monolithic concept and project, and all of this is discussed at the Markethive meetings every Sunday at 9 am Mountain Time. (MDT)  

So what time is it in your part of the world? Go here to find out. The doors to the meeting room are closed 5 minutes after commencement. Latecomers are denied access, so get there early. 

You can keep yourself up to date with the latest news and developments of Markethive as they happen. To access the meeting room, go to the Calendar and click on the link provided. See you there! 

A special thank you to the founders Thomas, Douglas, and Annette for their insights, inspiration, and dedication to bring the next generation social market broadcasting platform, far removed from the chaos of the legacy tech giants. A completely, decentralized ecosystem, impervious to the tyrannical forces that have subjugated humanity. Welcome aboard to all and be ready for an exciting transition and transformation of Markethive. 

 

 

Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty.  I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.

IS THE MACRO MOVING IN FAVOR OF ALTCOINS? 

A SIGN THE CRYPTO INDUSTRY GROWING UP?

You may have noticed, we’ve recently entered into a downtrend in the crypto market, with Bitcoin, the digital gold store of value for all cryptos, now traveling sideways, staying in the range of 33k to 40k. According to crypto pundits, it seems to be a textbook accumulation pattern of institutions, as explained in this video about the Wyckoff method. 

These downtrends, corrections, and consolidations are the principal dialogue that people tend to focus on. The novices cash out driven by fear while the knowledgeable and experienced ride through the crypto storms and manipulations. 

In a recent video, Charles Hoskinson, CEO, and Founder of Cardano, emphatically expressed that he mostly ignores the markets because the markets are macro. They can be very frustrating as an entrepreneur and project leader committed to creating, building, and executing new, in many cases, life-changing concepts.

In the video below, Charles speaks passionately about what really matters.

Crypto Industry Is Maturing Shifting The Macro

Before the GFC of 2008, life was great for many outstanding business people, did all the right things, had solid relationships with their customers, and always honored their commitments. Then along came the GFC, and many got wiped out because the macro moved against them.

For a long time, the crypto industry has also been this way. In 2017/18, we saw a significant bear market, and many got hurt. It was a case of; if Bitcoin goes up, everybody goes up. If Bitcoin goes down, everybody goes down, and it was very depressing for numerous entrepreneurs. 

It doesn't matter what technology you have, what you've accomplished, or the deals you've done, the announcements made, whatever it might be, although there can be some counter-cyclic play, for the most part, these markets are driven in that direction.

But in 2020/21, things are turning around, and, interestingly, this is the first time we've noticed significant counter-cyclical movement, where Bitcoin dominance has fallen tremendously. 

Currently, Bitcoin dominance is sitting around 42%. Basically, that's the percentage of all the totality of market cap Bitcoin owns, relative to all other cryptos. We’ve also seen that institutional preferences have not been unilaterally Bitcoin followed by everything else.

People are starting to differentiate proof of stake from proof of work, and we're starting to see a separation of things. The industry is maturing, and we see where Bitcoin falls short, and others in the industry are improving the technology. 

Cardano, with its Ouroborous, along with Elgorand, Solano among others, will get it done as an industry where they are all on par for building remarkable engines that will process billions of transactions every year, containing trillions of dollars of value collectively.

Furthermore, the Cardano blockchain can accommodate the trillions of data a social media and marketing platform generates while upholding privacy and autonomy in a totally decentralized environment, which is why Markethive, the social market broadcasting network, chose to build its blockchain on Cardano. 

Markethive is an ecosystem for entrepreneurs that will include financial transactions into the billions with its Hivecoin. This technology will benefit the Markethive community greatly and create a sovereign system for the global community in this precarious world. 

As Charles states, 

“We're future-proofing programmable finance, and this financial operating system is going to be social, it's going to be institutional, and it's going to be Fortune 500. It's going to run nation-states at some point. It's inevitable. We're making it a better place and I love the fact that I get to do it with a smile on my face.” 

He goes on to say that this is the reality because we're coming from a siloed world. We're coming from a controlled, top-down world. We're coming from a fragmented world that's incredibly exclusive for certain people.  A small group of people gets to decide everything, and nothing is working. 

We have negative interest rates, hyperinflation, massive deficit spending, completely unaccountable banks, and financial systems that are super fragile and too-big-to-fail. Corruption, nepotism, and doublespeak are everywhere. 

As a matter of interest, if you were a US citizen and you got that $1,200 stimulus cheque last year, it would be worth about $1,150 in real terms now. However, if you had invested in Bitcoin, it would be worth over $6,500 (and that is even with the recent dip). Likewise, if you invested that money into Markethive or Cardano, you will be one happy camper in the months to come. 

So there's an inevitability to the crypto, blockchain industry en masse, and there's a maturing of our industry, by and large. The diversity in the markets and the distributions in the markets, the vibrance of them, and their volatility represent that.

Over The Next Ten Years

Over the next ten years, there will be more advancement in monetary policy from the crypto industry than in the last hundred years of central banks. There will be more advancement in financial engineering, construction of financial products, marketplaces that trade them than the previous hundred years from Wall Street and other world stock markets combined. 

There will be more movement of wealth, 24/7 on the crypto rails than through the BIS and fixed protocols and other things that are the staples of the financial world. There will also be more automation and innovation, open law, and automated law and regulation in our industry than in the last hundred years of international agreements that have occurred. 

The vast majority of the following two billion people that enter the world financial system will be brought into our system from the cryptocurrencies phase. That's where we're at and what this industry is all about, and why so many prodigious people in this industry work incredibly hard every day. 

Unlike the past cycles in 2017/18, we're now in a situation where we've decoupled from Bitcoin, and people are starting to realize that while that was a great innovation, it's not the be-all-end-all; there's more to the story. 

And unlike the past, the macro is starting to actually move in favor of altcoins with meaning and purpose instead of just being these weird, composite cyclic maneuvers. 

Charles says,

“We will move beyond an industry that is deathly afraid of a 60 billion dollar stable coin being solvent or not. We're going to move beyond an industry that's definitely afraid of a hash rate falling because a single nation-state makes a stupid decision to ban mining or not. We're going to move beyond that”.

 

All In A Life’s Work

Thomas Prendergast, CEO and Founder of Markethive, and Charles Hoskinson of Cardano has a humanitarian and vested interest in the developing world of Africa and alike, highlighting the use-cases of the unbanked; however, by no means is this exclusive to developing nations. The reality is, we are all entitled to and deserve economic sovereignty and identity that is being taken from us. 

Banks, overdraft fees are taking it, and bank accounts that arbitrarily decide what businesses we are allowed to be in or not—taken by politicians who decide that they are smarter than us and determine what we’re allowed to own and how to live our financial lives. It’s being decided by employers, bureaucrats, and arbitrarily by marketplaces that we don’t have control over and never can because we are not invited to the table. 

That is the world we’ve inherited, but we are here to change that for our children and future generations. The decentralized crypto industry is all about making a world where we are in charge. This is Cardano’s and Markethive’s life’s work, as well as all the entrepreneurs within these ecosystems, and is why there is so much passion and excitement, tribalism, and volatility in our industry. 

The progress we’ve made includes some of the most sophisticated mathematics and computer science humankind has access to, and there is no challenge too great. It’s not about the money; it’s about freedom and the belief we can build a different system for a better world—a world where we are all treated equally and fairly with the opportunity to achieve as an individual. 

In only twelve years, which is a relatively short time, we’ve seen an evolution from a few crypto devotees to a global movement, and the progress is accelerating. This is the first year the crypto market’s behavior has seemed more refined than in previous years. In many cases, we saw erratic FOMO and FUD leading to despair with scam opportunists, the get rich quick mentality, resulting in a negative narrative for the most part. 

But now we see a maturing, materializing, growing, and solidifying, getting the respect and dignity that it requires where people are getting serious about regulating and integrating a new financial system permanently into society. 

Just like the certainty of the internet, which has become part of our daily lives, Cardano and Markethive are putting forward the best effort the industry has today. The community, the first movers, and people of the movement behind these companies are the lifeblood and have made them what they are today with many more exciting advancements in the next few months. 

Thomas Prendergast, CEO of Markethive says,

“Markethive is a grassroots company where the people, the rank, and file are integral to the operations of what Markethive is and will become. We serve you and we serve the Lord as Markethive is a vision of the Lord to bring revelation, freedom, self, and financial sovereignty to all. I love what I do and I’m overwhelmed and excited to be working with Cardano to realize our vision which is parallel with Cardano. We as a community get to be part of this monumental charge and calling for a better world.”

The reality is that these third-generation protocols are emerging, and it's going to change everything fundamentally. We won’t be stuck into this Bitcoin vs. Altcoin mentality. Instead, we will see the industry’s actual value, and it will be reflected by the eventual billions of people who will use these products every day to do things they couldn’t do before and in every area of life. 

There will be new markets and new customers representing wealth in different ways we never imagined possible. People from all walks of life will be part of an ecosystem they can access daily from their cell phones, web browsers. 

Many startups will come as a result to service the needs of these new markets and new entrepreneurs, creating the Googles, Facebooks, and Amazons of the future in a much more egalitarian and fair manner where ultimately we are in charge. Meanwhile, the dinosaurs will be trying to find a way to survive. 

Time To Re-Invent The Rules

Many have endured so much from the legacy financial system, which is responsible for a range of issues, including ridiculously high fees and interest charged to the poorest people in the world. Then there’s corruption and money laundering for infamous drug cartels empowering some very evil human beings. 

The issues that are too many to mention here were brought about from the legacy financial system that predominantly says the crypto industry is a risk. When understood and viewed in the right way, our industry is the antidote to the excesses of corruption and nepotism. It’s evolved from an industry of frustration to one of creativity and innovation. 

Cardano and Markethive are two of the forward-thinking companies that will change the world and the way we operate and work in the online space. They have a shared vision, and they will get it done and achieve it together as a community. 

There are so many people now, and the markets are simply too large. The innovation is too vast to be hindered, so it's no longer a question of if; it’s when we enjoy a better, more humanitarian world of freedom and autonomy in the social media and marketing realms of entrepreneurialism and a new financial operating system delivering economic identity and sovereignty.  

Every time there's been a significant change in human history, it's been owned by someone, an empire, or a corporation. It's been a winner-take-all thing or consortium, but now we have the opportunity to reinvent all the rules and change everything. The vanguards of this technology are open-source, patent-free, and defined by the people who use it, and in many cases, more so than the people who invent it. That is an extraordinary and unique moment in our history.

 

 

 

A special thanks to Charles Hoskinson and Thomas Prendergast for their thoughts.

 

Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty.  I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.