One of the hottest topics in the world of smart contract technology is Ethreum TAKE Off. I’ve been watching the progress of the project since it began. The creators of the project, Vitalik Buterin andolechain, released a white paper in June of this year describing what they are doing. They envision a future where any person can make money by using their computer and the internet to participate in e-commerce through their smart contract.
How high can the price of ethereal be? On the heels of their white paper, they released their second product called Elements. This product is supposed to be used in combination with the ethereal software to run applications on the e-blockchain. Vitalik Buterin claims that this new system will enable any person to have the ability to run any smart contract application on the network. This is certainly a very interesting claim and one that I believe is the holy grail of e-blockchain technology.
Let me give you a quick example of how this will work. Say you wanted to purchase a new laptop. Before you could do this, you had to fill out all the necessary information and go through all the process of financing and negotiating. With e Hemp, you can circumvent all of that and simply purchase the laptop from the company that is processing your loan using your own funds. This is what I call instant wealth!
So how high can the price of e Hemp be? It’s hard to say because the market may never reach that point, but it has the potential to reach a very high mark. Right now the market is based on individual users and merchants. Right away, anyone who has experience in the field can buy e Hemp online and sell it for a profit. The question remains as to whether this can be replicated in the larger market as well.
What I’m trying to get across here is that there is tremendous potential to create a large market for e-blockchain based commodities. In order to do this, however, it will take a lot of research and development on the part of those in the industry. It will also take a lot of work on the part of governments, central banks and other financial institutions to jump into the mix and create a stable infrastructure for trading that doesn’t have to take forever. Right now, the status quo in the market is pretty solid with only a few exceptions. As I mentioned above, these exceptions are very small and don’t account for the vast majority of the market.
In ten years, there’s no telling how high the price of e Hemp will go. Many people think that it will plateau at some point between now and then, but that wouldn’t be surprising because this plant has been around for a long time. There are lots of historical examples of crops that have grown in ten years or more, including wheat, cotton and a variety of fruits and vegetables.
A key indicator of whether we’ll see a high price for e-blockchain based commodities anytime soon is the emergence of more sophisticated and efficient machines to do the work for us. With more computers becoming part of the fabric of society, the speed and accuracy of communications are getting better. That means that the price of e-blockchain related commodities will continue to rise. While it may seem hard to imagine the price going that high, the good news is that it can be done.
It’s important to understand that this is a speculative market at this point. Forecasting how the prices of e-blockchain based commodities will evolve is difficult because it’s not exactly clear what the outcome of political situations will be. However, this doesn’t mean that you shouldn’t invest in Ethreum. The company has already received funding from prominent venture capitalists, so it has the facilities to make it through a rocky market.