Much is made of the blockchain and how it will revolutionize the web and how the world’s population will subsequently interact with it.
Understandably, there are currently less real-life examples of how this will actually happen and bring about the huge changes it promises.
One network, however, is already promising that it is dong so. The DGCoin claims that is ‘bringing blockchain to the real world with the launch of the world’s first decentralized location-verification oracle network’.
The DGCoin Network’s ecosystem of crypto-location technologies combined with its so-called revolutionary protocols provides any location-reliant market with the ability to employ transactions dependent on time or location of delivery.
While bitcoin and other popular cryptocurrencies are either set to take over the world or are just bits of code that have no value depending on who you believe, their current efforts in blockchain technology are confined to the online world.
All modern blockchain, cryptocurrency and tokens exist as economic tools for the underlying platform’s economy, focusing solely on online applications rather than real world applications.
Because of this, the DGCoin ecosystem has developed location-based technologies that connect the digital world to the physical world. To achieve this, DGCoin has created a location-based consumer product business with the purpose of putting Bluetooth and GPS tracking beacons out into the world.
In doing so, DGCoin has conducted deep research surrounding location-focused blockchain technology, allowing it to expand to the offline world. The system’s open-ended architecture for DApp development supports all blockchain platforms that possess Smart Contracts execution.
It is debatable if these two worlds are ready to meet. Blockchain promises much within an online world, but the real world may offer a bigger challenge.
Location and blockchain is a heady mix. The DGCoin Network now needs to deliver and scale; it will be interesting to see how quickly this can happen.