The evolution of blockchain
Blockchain technology is still at an early stage. It will take many years before it becomes mature and its potential is fully explored and harnessed. Currently, there is no universally agreed way to classify or define blockchain generation.
In her book on blockchain, Melanie Swan defined blockchain 1.0 to 3.0 based on the use scenarios that blockchain platforms are created to serve:
"Blockchain 1.0 is currency, the deployment of cryptocurrencies in applications related to cash, such as currency transfer, remittance, and digital payment systems.
Blockchain 2.0 is contracts, the entire slate of economic, market, and financial applications using the blockchain that are more expensive than simple cash transactions: stocks, bonds, futures, loans, mortgages, titles, smart property, and smart contracts.
Blockchain 3.0 is blockchain applications beyond currency, finance, and markets - particularly in the areas of government, health, science, literacy, culture, and art."
Some...
