When the first iPhone came out back in 2007, the only apps it had were made by Apple. There was no such thing as “third-party apps.”
Then, just over a year later, the iPhone 3G came out, which included a new feature called the “App Store.”
At the time, there was a selection of 500 apps, which sounded high then. However, that number pales in comparison to the 2 million that are now available.
Since the mass adoption of apps, there have been more than 200 billion downloads, over half of which have happened in the past four years.
Now, we’re about to enter the age of the “dapp.”
These new-generation apps, more formally referred to as decentralized apps, run on one of the most fascinating technologies around: blockchain.
And this technology isn’t something that’s far from being widely adopted.
Dapps are already being introduced on the new wave of blockchain phones that have been released in the past year, such as the HTC Exodus and Samsung Galaxy S10.
Over the next couple of years, the general public will be using dapps just as frequently as “regular” apps.
Your Key to Privacy
Because they’re created on the blockchain, dapps have incredible benefits when it comes to privacy.
The blockchain is completely decentralized. So even though these new blockchain phones run on the centralized Android network, which is susceptible to hackers or other intruders, they also have an area that’s “walled off.”
Since the blockchain is decentralized, the information stored in this area can only be accessed on your device with your own personal password, called a private key.
You can think of blockchain as a network that runs on a big group of computers and devices, like the internet. However, the big difference is that unlike the internet, each “node” on the blockchain, such as any computer or blockchain phone, has complete security of the information it contains, rather than it being stored on some big server that a hacker can break into.
That means that since dapps are created and run on the blockchain, all of the information they receive is completely private.
Make Money With Dapps
What we’re going to see in dapps is the option to let your data become visible to advertisers or other companies in return for some sort of compensation.
This is already happening on internet browsers like Brave.
When you first download and use Brave, you’ll notice that there are no advertisements on any website. However, with “Brave Rewards,” you can allow advertisements, and in return you’re paid in the browser’s own cryptocurrency.
One of the most interesting mobile dapps being introduced on the HTC Exodus 1 is called Numbers.
This is a program that tracks things like how much someone walks, sleeps, drives, etc. And, of course, all of that is stored remotely on the blockchain.
You can sell that data to a third party if you so desire.
Dapp developers are also in talks with insurance companies to create a system where you can receive discounts as a form of compensation. So, if the driving data that the dapp records suggests you’re a safe driver, the insurance company will reduce your payments.
Profit From the Growth Ahead
Even though dapps are just beginning to make their way onto phones, people have been using them on their computers.
Right now, there are 2,654 dapps running on the blockchain, compared to 1,175 a year ago and 253 at the end of 2016.
A lot of people are using them, too — the number of daily active users is over 100,000.
This technology is going to continue to evolve as it’s integrated into more areas of our daily life, just like apps did. We’re already seeing this in the job market, where the demand for blockchain-related job skills grew about 3,200% in 2018.
It’s not a huge market yet, being valued at about $385 million on a global scale. However, the blockchain industry is expected to grow at a rapid rate of 84.4% per year.
So by 2025, it’s estimated that blockchain is going to be a $28 billion market worldwide. That’s total growth of 7,163%!
Fortunately, there’s an easy way to invest in this new technology, other than cryptocurrencies.
That’s the Reality Shares Nasdaq NexGen Economy ETF (Nasdaq: BLCN), which was launched early last year.
This exchange-traded fund (ETF) holds shares in 60 companies around the world that are all adopting and growing the blockchain industry. It’s a great opportunity to profit from the growth ahead.
Editor, Rapid Profit Trader