Blockchain 1.0 is toast. Creating ERC20 tokens today for payments is just another form of butt-scratching. It seems that almost every new offering today is just digital effluvia from a duplicated singleton button that everyone seems to want to press to make magic. Newsflash - only 8% of ICOs ever hit the exchanges. Why? Because there is no transcendence.
New technology implies a transcendence of the stuff used to comprise it. Bitcoin transcended blockchain and became a crypto currency. Ethereum transcended Bitcoin by introducing smart contracts. Both Bitcoin and Ethereum have value as a crypto-currency arising from their unique transcendence of their constituent elements. If you are making crypto because you have a different way to spend it, you are just like the guy who says that he has invented a new word called 'plagiarism'.
Blockchain is secure, transparent, autonomous & outage resistant. You have to find a way to use those constituent elements in an enchanting way that goes beyond the mere attributes of blockchain, Bitcoin or Ethereum. It has to transcend all of that.
When you use blockchain & tokens in a new way that changes forever the old way, you are truly disruptive.
If I had a dollar for all ICOs that were truly disruptive, I'd be broke.
(originally appeared as a LinkedIn post: https://www.linkedin.com/in/ken-bodnar-57b635133/ )
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