Blockchains create a standardized platform for access and interaction.
Because of this, we can combine the power of all users on a blockchain to enhance everyone’s capabilities.
Given that all information in a blockchain is accessible to everyone, we are now able to combine data silos between institutions.
Any information collected or functionality provided by an app on the Ethereum Blockchain is accessible to all other users on the blockchain, something which can’t be said about the Internet alone.
In addition, blockchains enforce a common standard.
As all users tap into the same single protocol, they must also adapt to that protocol’s specifications.
Granted, that requires everyone to go through the trouble of adapting.
However, once everyone’s on the same platform, there are no longer issues of format or syntax.
Lastly, by combining resources and information from all parties, we can enhance everyone’s user experience.
Any app that exists on a smart contract platform has its data and functionality living in that platform.
Any other app can leverage existing technologies on the same platform, creating a positive feedback loop and benefiting all involved.
This is referred to as network effects, which is the increased value or potential of a product with every additional user.
Similar to how more Facebook users makes the platform more worthwhile for all users, more smart contract developers increases the value of a platform.
In this way, individuals are supporting the rest of the community while benefiting themselves as well.
Finally, the most abstract yet fundamental property of a good blockchain use case is pure decentralization.
What this means is decentralization for the sake of keeping it out of the hands of a central authority.
This is what Bitcoin aimed to do with banks.
Although there was a working central solution, Bitcoin wanted decentralization nevertheless.
In countries with significant amounts of distrust in central authorities due to corruption or inefficiency, blockchain might be useful.
Blockchain provides a system for users to produce guarantees that a central solution cannot provide, such as censorship-resistance and disintermediation of power.
These properties are difficult to evaluate in terms of dollars and cents, but groups like cypherpunks and crypto-anarchists ask about finances second.
For some individuals, self-governance and privacy is more important than any amount of revenue, making decentralization for decentralization’s sake worthwhile.
Perhaps the most astonishing property that a blockchain provides is globally recognized proofs.
Cryptocurrencies aren’t divided by lines or borders–they’re guaranteed to be globally accessible and unstoppable as long as there exists a community to support them, unlike businesses or government projects.
Through blockchain, we can support globally recognized ownership, persisting across nations.