We have seen it over and over again with the top 5 crypto assets. Whenever the general crypto community is all bullish about a coin, Wall Street comes out of nowhere and either starts offering financial derivatives of the coin or holds the digital asset by the hand to further make it great. We have seen it with Bitcoin (BTC) and the futures contracts being offered by CME and CBOE. We saw it with XRP, LTC and ETH with UK based Crypto Facilities that currently offering futures products based on these digital assets.
The thing about Futures contracts, many Crypto enthusiasts do not like them. They allow you to bet against a digital asset and actually predict that it tanks in the markets. It is similar to shorting. This involves ‘borrowing’ a digital asset at a certain high level then instantly selling it with hopes of buying it back when it gets cheaper. If this were to happen, you profit by pocketing the difference. Perhaps it is time crypto enthusiasts became savvy traders and started shorting their favorite digital assets? HODLing seems to be causing widespread heartache.
Moving back to TRX, it is only a matter of time before the project attracts the attention of a major media based company in a similar manner as to how XRP attracted SBI Holdings. Unlike XRP, TRX is not so much focused on the remittance industry, therefore a media firm would be more applicable. Hollywood is known to be the hub of media. This includes music, film and reality TV. It is, therefore, no coincidence that Tron has an office in San Francisco.
Considering the fact that music artists only take home 12% of the revenue their lovely music makes, it might be time to decentralize the media industry using TRON.
But what media firm would be crazy enough to risk losing its profits by decentralizing music/film distribution and payments?
This would be a bold step by a media firm for they risk being taken over by the technology they will be promoting. But by being the first in the market to offer blockchain solutions to creative content for artists, such a firm would place itself in a position of being the next iTunes or Spotify or Tidal on the blockchain. Maybe even these three firms are already watching the Tron Project from afar and sending so-called emissaries to Justin Sun. More so, since he acquired the file-sharing platform of BitTorrent. Think of the possibilities of a decentralized music industry!
Yes. All this is speculation. But remember the great men and women in tech have always been known as being dreamers and visionaries. At first, their ideas seem insane only to be patted on their shoulders a few years down the line when their ideas become mainstream. Think of Tesla and his vision of a wireless means of communication and energy transfer. Think of Marie Curie and her research on radioactivity. Think of Einstein and his theory of relativity. They were a few years ahead of their times with their ideas and now we cannot live without their ‘dreams’ of a better future.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels