The Future Of Hive: Monaco
Many discuss how they see the future of Hive. This article will use the analogy of countries.
In the world today, China and the United States are the two most powerful countries. After that you have a second tier, which could include Germany, Russia, and Japan. The EU, as an entity, sought to be a superpower although they most likely fall into the later category.
The two leading countries have the most wealth. China is the second largest economy, registering somewhere around $14 trillion. This is about $5 trillion less than the United States which comes in around the 19 mark.
When it comes to the individual wealth of some of its citizens, these two countries, once again, top the raw numbers. The most billionaires reside in these nations.
When it comes to millionaires, we see the same thing.
In raw numbers, there is little doubt these two countries dominate.
The Blockchain of Opportunity
Hive can be thought of as the "Blockchain of Opportunity". It presents users with a unique proposition compared to some other blockchains.
Will Hive be the largest blockchain? No it will not. It will never be the United States or China. This will be relegated to chains like Ethereum or EOS.
Please not I am focusing upon technology based blockchains, omitting the ones like Bitcoin that are asset based, deriving value in a different manner.
Hive is a specialized blockchain, it is not general purpose like the others just mentioned. It will not provide all the tools that fits all developers. We can see this in the fact that DeFi exploded on Ethereum, something that could not happen on Hive, at this point, due to the lack of smart contract capability.
Proof-of-Brain was the original concept that set Hive apart. Due to this, Hive became a great location for content creators to participate. The reward system offered a means of token distribution that was not present elsewhere. Suddenly, people were able to get rewarded for their actions as opposed to simply buying tokens.
Recently, Hive has done well in the area of gaming. This expanded the scope a great deal, coupling itself with the introduction of layer 2 tokens that are also distributed based upon the aforementioned PoB. All this combined results in an opportunity for those on Hive to get rewarded in many different ways.
Thus far, there is only one wealth center on Hive, the HIVE token itself. However, with the continued advancement of some of the projects, whether it is a tribe or game, it is likely we will start to see a lot of value being generated elsewhere. This is going to increase the status of many people on Hive. In fact, there is the prospect of "life-changing" money available to thousands who are active.
Monaco: The Wealthiest Of Them All
While China and the United States are the biggest in terms of their economies and, overall wealth, neither country holds a candle to the wealthiest nation on the planet.
Located between France and the Mediterranean, Monaco has become a well-known residence for the super wealthy. It is one of the smallest countries in the world, with about 40,000 residents – but has a wealth per capita of $2.1 million.
Many of those residents (about 2,700) are multimillionaires. The fact that it one of the only countries in the world with no income tax helps to attract wealthy individuals. It also serves as an offshore center for Europe, drawing many high-earning financiers.
It also has, according to Business Insider, an individual GDP of $165,420, second highest in the world, trailing only Liechtenstein.
These are some incredible numbers when you consider the size of the country and the population. It is home to less than 40,000 people while covering an area smaller than Central Park in New York City. Yet, when it comes to wealth, it is one of the epicenters for the world.
At some point, we will see more than 7 billion people online. This means that it is possible for a blockchain such as Ethereum to have over a billion users. This is not what we will see on Hive. It is highly unlikely that many people will pass through the blockchain.
That said, those that do make their way to Hive, over time, can really put themselves in fantastic position. With layer 2 development along with possibly the reproduction of PoB tokens at the base level, we can see incredible opportunity being generated on Hive. With each new project, many are given the change to become "early adopters" again. So while that status might be passed as it pertains to the HIVE token, it could be available for hundreds of other projects.
It is likely that a chain like Ethereum will always have more millionaires, even moving into the billionaire status. However, Hive can be more like Monaco in that the users tend to amass more, on average, than the larger chains. Being smaller is not necessarily a liability, especially when you consider how a tight-knit community can spread the network effect over many different projects at the same time.
Think of this as an epicenter where a million or so people "reside" whereby they support most of the projects that are built here. Over time, the wealth of the entire system grows, at a rate exceeding all others due to the size. This results in a "Monaco-effect" where the average individual is much better off, in terms of his or her holdings, than those on other blockchains. At the same time, some other resources, from these individuals, could find their way in.
Simply put, we cannot be everywhere. As humans, we are creatures of habit. In the online world, we tend to visit the same websites on a regular basis. With tokenization, this habit means we are frequenting the same economic community. Here is where we see how Hive-based applications fit into this.
If we are repeatedly showing up and participating, the platform is distributing tokens on a daily basis. Those are who involved will be accumulating them from different areas, expanding on a daily basis. A couple breakthroughs which capture the attention of larger numbers, could then push this to a much greater level.
So, whereas Ethereum could have hundreds of millions of users, Hive would likely have 1/100th of that (or less). That said, it does not mean that it can be overlooked.
Monaco is not a global superpower but, when it comes to the wealth of its citizens, it is at the top of most lists.
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