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elon musk tweet

Elon Musk’s Mysterious One Word

Just a few days back, Tesla’s chief Elon Musk mysteriously tweeted ‘Ethereum.’ It was not hard to interpret as the Ethereum founder Vitalik Buterin responded him with a string of 13 use cases of Ethereum. Promptly after the mysterious tweet, Ethereum witnessed a super duper hike where the google search interest too showed a 3.25 percent rise.

This blog will shed some light on what are the best use cases of Ethereum blockchain in the same words as they tweeted.

The very first thing that the Ethereum owner Vitalik Buterin tweeted was the globally accessible financial systems.

  • He essentially suggested payments and a store of value, or even insurance.

Options to sign in and sign up with Ethereum

  • Like many of us know, signing up with Facebook is an option the same way one can sign up with ethereum.

Secured and transparent registries

  • Ethereum can be used to store sensitive data and at the same time to keep them open.

Experiment with new forms of governance and human organizations

  • By saying this, he pointed Moloch DAO which is a decentralized organization that is unique, involves new ideas and methods and executed by smart contracts.

Make micropayments easier with Ethereum

  • With the help of Ethereum blockchain, one can easily make micropayments that might be difficult and require you to pay considerable charges otherwise.

Markets for personal data for privacy-preserving machine learning

  • Let us assume ‘A’ gets paid a certain amount from ‘B.’ X can quickly execute function Y without knowing or getting any credentials from A or B.

Spam prevention in social networks

  • When it comes to using blockchain a lot of spam and unauthorized/un-verified news can prevent from doing the rounds.

Micropayments for publishers of good content

  • Good content can be verified with pre-set rules and regulations, and the good content publishers can easily be given micropayments with zero extra charges and transactional fee.

Newmarket designs testing grounds

  • While mentioning this particular part, the Ethereum founder refers to a leading exchange marketplace.

Get charity stickers for donations

  • Similar to the facebook badge that helps recognize a group of people who have a particular cause, this sticker refers to giving symbols and recognizing charity works.

Peer-to-Peer Marketplace for internet connections

  • There are many possibilities to create peer-to-peer marketplaces for internet connections.

Identity, reputation and credit system

  • Unique identity systems can be created for a number of people who have lost their identity in situations like storms or other mishaps.

Decentralized DNS Alternatives

  • Domain Name Servers are largely dependant on the centralized systems. It can be reversed by deploying the DNS on blockchain platforms.

 

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