Blockchain Collaboration is Catalyst for future Growth of Blockchain Tech and Cryptocurrencies

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Wikipedia defines collaborative finance as a category of financial transaction that allows individuals to carryout financial transactions directly between themselves without the intermediation of a traditional financial institution. The article went ahead to berate that Collaborative finance is an innovation has been maximized by advanced social media and peer-to-peer online platforms.

By the above explanation, one can say vividly that a blockchain like Hive are actually implementing collaborative financing in that "User A" can reward "User B" with HIVE token directly by way of upvoting User B's content. The transaction between a content creator and a curator is much like what is obtainable in the marketplace. The content creator can be seen in this case as a seller whose product is the content while the curator is the consumer who pays for the product (content) received (consumed) by his perception of the quality and worth of the product.

The above scenario sim ply shows a marketplace without an intermediary body that transmits the payment from the curator to the content creator. This goes a long way to reduce associated costs/commissions as it applies to transaction inter-mediation. Today, we see intermediaries becoming richer than the product sellers as well as the consumers who initially owned the purchasing power.

There have been a promise of safe brokering of transaction between the seller and buyer, yet the intermediary takes advantage of the escrow function he performs to enrich himself. This is what is obtainable with Amazon and other e-stores that do not own a single factory, but only serve as a link for the producer and the consumer. On the other hand, centralized exchanges have played the intermediary roles over the years and have become so rich, richer than the sellers and buyers.

Something strategic to not is that the worth of the intermediary is defined by the trust offered by the buyer and the seller who end up receiving less of their due (product and money) due to commission cuts by the e-intermediary.

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Peer to peer systems has come to help build a direct trust between the buyer and seller thereby allowing both parties receive a full share of their due. This is a commendable development as this goes ahead to reduce the risk of possible victimization of a party by way of censorship.

The Spate of Unhealthy Competitions

Within the ranks of blockchain technology and cryptocurrencies, the core of blockchain seems to have been forgotten when competitions emerged thereby causing a delay in mass adoption. Yes, it is true that a kingdom divided itself cannot stand. When two crypto projects that should complement themselves in terms of products an services thereby pooling the wealth of their individual supporters together, they end up competing against each other which makes the technology lose value in the eyes of onlookers.

The Narratives Beginning to Change by the LeoFinance Community

Like I've been saying that the Leofinance community springing from the Hive blockchain has been designed to be an all inclusive community that supports anything crypto. Until this core was pursued, LEO token still remained a local valueless token on the Hive blockchain.

Today, we already see the great developments and growth around the LeoFinance community which has made ETH enthusiasts to begin to see some value in HIVE and its tokens by the single multi-chain bridge through wrapped LEO.

It was so exciting to see the timvi crypto community joined Hive through the wLEO bridge. @Timvi runs the GTMV yield farming project and it sounds a great experience to learn and understand the operations of the project from the Leofinance community. Head to their introduction post and share some love with them.

This is the beginning of great things to happen within the cryptocurrency space. This is because, all concerned in the collaboration process would seek the growth of the other project and that turns out for the good of all. Collaboration is key to crypto and blockchain tech growth.

Weeks ago, after reading this post conveying the idea for a collaborative platform for all crypto-powered blogging platforms as led by @brofund, I was so excited. The proposed DreamR DApp would be overwhelming.

This is where DreamR will step in. DreamR will act as a bridge from platforms such as Hive, blurt, and others from places such as Facebook.

Imagine this. You are in your DreamR portal and so far you've collected $100 in crypto and share a nice share-graphic of your earnings to your friends. This is going to be much harder to resist than say a raw paste.

At this point, I can say that there is hope for blockchain tech and cryptocurrency as collaboration ensues. The investor with ETH tokens in his portfolio would not get worried on how to participate in Hive games and vice versa as collaborating bridges like wLEO gets built.

Let's see the future!

Posted Using LeoFinance ^Beta