Total Replacement: Social Networks, eCommerce, and Finance - Introduction
The birth of the internet brought endless possibilities to fruition in regards to making life easier in every department. The internet led to social togetherness, improved communication, rapid medical response, increased financial activities, and informative lifestyle tips. The rise of technology spread from nation to nations and the people in isolated places were able to share their talents and skills from a distance. Technology continues as more possibilities and opportunities present itself before us daily.
A total replacement of what we know today is not just a dream but a reality. It could happen to the smallest networks and the most popular platforms. We have experienced and witnessed the likes of MySpace, Yahoo! Messenger, AOL, MSN Messenger, and Friendster overtaken by the popular Facebook, Twitter, Instagram, and Snapchat. Social environments are the fastest industry to adopt when it comes to new technology. The new technology word circulates within hours, and millions of people immediately capture the new tech internationally.
Heavily influenced by the social network population, the internet led to another use case. This time it is eCommerce. E-Commerce could either be Business-to-Consumer (B2C), Business-to-Business (B2B), or Consumer-to-Business (C2B). Thousands of online e-commerce platforms were crushed by new technology because they failed to innovate and technologically adopt. The top E-Commerce giants today by market cap are Alibaba, Amazon, JD.com, Shopify, eBay, Rakuten, and Walmart. The possibility of replacing those platforms is very high and likely. New technology utilizing blockchain and digital assets opens doors, avenues, and a world of needed ideas and experiments that demonstrate the usability and ability to replace all E-Commerce platforms. The revolution has begun, and it is approaching us at high speeds.
The financial systems, still in the process of implementing and discovering electronic and internet capabilities, will soon have to worry about their existence. They are too slow to adopt, reluctant to changes, and often tries to grab and hold onto power instead of encouraging the development of technology. A new financial tech era is here to replace the old and inefficient methods of transactions and communication affecting people’s lives. They’ll be no more high fees, waiting hours or days to uplift money transfers and confirmations on financial requests.