Idea of a Blockchain Ecosystem
Satoshi Nakamoto gave the idea of the blockchain, 2007 was the year of financial turmoil and major developed countries struggling to escape from turmoil, the Satoshi Nakamoto gave the idea to ensure the proper recording of data, no one can temper it, issuance and transfer depend on the majority vote, he realized in 2007 that turmoil was based on the duplication of values, overuse by agents and he saw the solution lies in the ensuring the uniqueness of the financial record, therefore he was offered the blockchain solution.
In that respect, after 10 years of blockchain development, we now have hundreds of blockchain networks, Bitcoin network is the market leader not because of the technology but the awareness of the world, in the crypto world there are many cryptocurrencies that are very advance as compared to Bitcoin but due to limited popularity those coins not have enough value.
When Satoshi Nakamoto offered the solution to the world has the problems of duplication and misconduct, but after the hundreds of blockchain, we have the problem of which group of society using which blockchain network, it looks like the ancient time when Chinese people exchange rice corp with the Australian meet, how both judge the actual value of the corps.
Do we need a universal blockchain network that saves all of the exchange value data from multiple blockchain networks, decentralization is an important part of the blockchain technology, but many blockchains are limited to one part of the world, centralization again necessary in order to fulfill other parts of the world, if red Indians only accept the Binance coin then those who trade with red Indians need the Binance coin, maybe those who trade with red Indian in conflict with the Binance and the company forces to reverse the ongoing transactions, then who is here in the crypto world suggesting the framework of universal blockchain values and ethics.
Yes it is true, anyone can create the token and blockchain, anyone can participate, but the value of the crypto assets depends on the count of population trust of the world, but that trust fall with just one tweet of a celebrity, how local blockchains developed a trust mechanism in order to gain the value, maybe a new blockchain is needed to generate the value for the new proposed blockchain, and everyone agrees on that formula of value generation mechanism.
Since ancient times humans grabs maximum resources in order to survive, the greed of maximum never end, in a result, some have maximum and some have a minimum, both ends always have the fraction, fight for extending the current resources, does blockchain require a format of universal ethics to behave in a civilized manner.
Currently, blockchain is distinguished technology from the legacy system of record-keeping of various resources, the idea is perfect and valuable but we are living in the age of the Internet, does only the unique identification is enough, what about setting the actual exchange value of the resources, how every part of the world agrees on the value set up by the blockchain.
Blockchain technologies are not mature yet, still in the process of evolution, the side chains, main chain, and trust on the network, there are many more terms that require attention and clearance, however, blockchain is a promising technology.