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This is part three of a three part series:
• Part one: Ethereum Classic Principles
• Part two: Ethereum Classic Vision
• Part three: Ethereum Classic Opportunities
The series is a talk that I wrote about Ethereum Classic (ETC). Following is the segment about ETC opportunities.
In terms of opportunities in ETC, everything I have described in this talk means that:
• ETC is perfectly suitable as a pure store of value.
• For high value, high security property and agreements.
• As a base layer for other chains.
• It will be a totally complementary base layer to Bitcoin.
• And, of course, it will also be optimal for the IoT industry, as was ETC’s first goal and vision after TheDAO hard fork.
My vision in the “Core, Infrastructure, and Services” segment is that:
• Companies and teams such as ETC Labs Core, Parity Technologies, IOHK, the Multi-Geth team, and Blockstream can follow the very successful “Red Hat” model of consulting, training, and support on a subscription.
• They can also provide services like Blockstream does, such as full service sector specific sidechains and/or mining services.
• Companies like Ethernode and Saturn, and products like Ethercluster by Yaz Khoury of the ETC Cooperative, are indispensable complementary infrastructure for cloud nodes, home and office hardware nodes, API services, ETC based operating systems and decentralized exchanges. Many more models can be added in this sub-layer.
• The “big boys” like IBM, Microsoft, Oracle, SAP, Amazon, Google, and others are very likely going to acquire some of the players mentioned above and provide large scale enterprise solutions based on ETC.
As for productivity dapps, my observation is that:
• It is difficult for consumers and businesses in the world to code smart contracts securely.
• The model is to have free productivity dapps at the center of their ecosystems, and to have plugin and smart contracts template-stores on the side where developers sell the services of their highly secure smart contracts to consumers and businesses.
• The role of the productivity dapp operators is to curate developers and code, provide the dapp for free, and to charge a portion of revenues to developers.
Examples of these productivity dapps could be apps like Trello, SmartSheet or Github.
All will have their own sidechains and pegs to ETC for settlements and finality.
I think a formula for ETC’s future success is:
• To continue to have a clear trust minimization philosophy and principles because that is precisely what makes ETC valuable and complementary with other systems.
• To connect and collaborate with ETH 2.0 and Bitcoin, and other systems.
• To be cautious so that collaboration does not change the integrity, thus the underlying value proposition of ETC.
• For all participants to define clear business models and messaging.
• To communicate, communicate, communicate all these ideas relentlessly!
To read other parts of this series please follow these links:
• Part one: Ethereum Classic Principles
• Part two: Ethereum Classic Vision
• Part three: Ethereum Classic Opportunities
Code Is Law
