API bridges, such as API3, and other solutions like Chainlink, enable developers to use data from Web2 apps, Ethereum developer resources and tutorials and even application development tools such as One Click Dapp and Infura, taking much of the work out of dApp development. A dApp requires that the app be decentralized, permissionless and utilize blockchain technology.
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I think what is stopping many people outside of the tech space is both habit and exposure. Folks are used to doing things one way - While the tech space is very aware of what is happening now and what is on the fore, and can see the massive benefit to services like API3, many folks I work with do not know very much about Blockchain, they are in a “Web2 mindset” and think of crypto as the use case for Blockchain without understanding the reach of the technology. They may not fully understand APIs either.
Conversely, I used to work in an IT-centric space with very technical folks where we used to test encrypting and decrypting auth tokens, web services, and a variety of other upstream/downstream services/processes and applications, dealt with challenges around things like audit, connecting with numerous third party integrations as well as handling pooling of requests, so these folks I have no doubt already see the benefits immediately.
So how to bridge the gap?
Recently I listened to a podcast (here: How Fox's Blockchain Creative Labs Is Exploring Media's Web3 Future - Variety) where a certain media company was talking about the challenge of adoption and how they were finding ways to incentivize fans of their shows through NFT tokens, getting their artists to use auctions such as Southeby’s “meta” space and helped users by setting up wallets for them.
So I think some sort of incentivization is needed, and some way to help users understand the benefit of things like immutable audits, or more specifically real-time feeds.
Speaking for myself I have been in IT for many years, and getting into learning cloud infrastructure (in my case via AWS CSA) was somewhat of a gateway that lead to my obsession with Blockchain. And i also was in QA for many years where we tested APIs through things like Postman and SOAP, so embracing Blockchain were less foreign.
There needs to be a bridge where folks are using services one way and see very clearly and immediately that there is a better way where they can be part of the future. Most people I know do not know what a DAO is, let alone an API or a first party Oracle.
The more mainstream entities that make the leap the more it will be adopted and I believe it is just a matter of time! The API3 technology is just too cool.
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What use cases do you think will be the biggest outside of currency?
Hi Ryan ,
Some accessible examples for everyday folks that come to mind are below, I don’t know all the details but there are certainly a number of compelling use cases from my perspective.
-audit in combination with ENS Ethereum Name Service - immutability is a huge benefit.
- archiving - Companies like Arweave are doing this I believe for archiving.
-land registry -
Re: Lantmateriat - Swedish land registry using blockchain
Apparently other countries using Blockchain for this purpose include Brazil , Honduras and UAE.
-supply chain - there are some compelling examples here: https://www.nasdaq.com/articles/blockchain-technology-for-supply-chains%3A-who-is-using-it-and-how
-ticketing for events to prevent counterfeit and double spending on tickets
(I am not sure if this is a service at this time but I could certainly envision this)
-healthcare if companies can address PII/PHI data (HIPAA) perhaps through a hybrid Blockchain model - example: Ever Medical Technologies
-digital ownership for artists - look up Dollyverse. This is closer to currency model as are NFT tokens as souvenirs by folks like Blockchain Creative Labs and what they are doing with incentivizing and fan engagement
-blockchain cloud storage - breaks up data into chunks with each chunk stored in a decentralized location -uses hashing functions – I have not explored the details of this.
- Erik