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RE: Ethereum’s Plasma — where Speed meets Security
Great article! The simile is really good!
Correct me if I'm wrong, because I'm still pretty new in this ecosystem. If cryptocurrency will be accepted as method of payment (in supermarket, for example) this Plasma and baby-chain will be the hinge point for payments in future?
OmiseGo is creating a solution for precisely this
Will be very interesting to see how long time before something like this will show up in a supermarket. Doesn't seem to be that far off since we already can buy a Bitcoin credit card. Obviously it would be best if it's just a phone app that is needed instead of a bulky machine to install inside a food store. And then use NFC payments. But soon probably even food stores will be obsolete and we will probably just order food all online to be arrived at our home with a robot(Maybe even a drone that lands on our roof!). Eventually we will have food delivered in pipes just like water. Maybe just the ingredients in raw form and then an AI robot that prepares it for us. Pay with plasma in your home.
Ideal would be that these baby Blockchain dragons predicts your purchase before you even buy something. I think Amazon is already doing that by analyze peoples buying trends. With machine learning this will speed up even further. Or even better the supermarket exist in the Blockchain world online and you could pay on the Internet. Maybe even earn special tokens if you buy certain things or engage in their social media activities. Right now the Internet is a screen we look into but the Internet will probably be deeper ingrained in our bodies eventually so we won't think about it. We will just always be on. Which we kind of are already!
There are many other interesting passionate teams working on cool stuff when it comes to fast payments for example Electra (ECA). These will mainly now focus on E-commerce integration 2018 and create wallets for Android and iOS but since they will be using QR codes it won't be that difficult for food stores to eventually implement this. But then food stores have to become a bit more digital faster. But I think a transition from old payment system to a new modern and faster may happen very fast. Since VISA and Mastercard payments may be a bit slow and not the safest since you have no idea if the pay machine is safe. Think it will be much better to pay with your smartphone where you can confirm with Facial ID or Fingerprint sensor.
A bit how their system works. This is from their whitepaper that could be found on their website. Looks like a passionate team behind it! I find the competition between all the coins and tokens will be fascinating to see. Since all the teams seems highly passionate about what they are doing and many truly believe they are changing the world by creating new better and faster systems that will makes peoples life much easier when it comes to value transfer technologies!