Compounding all the insights our team received during Sora Summit, top crypto investors and developers shared their ideas on the future crypto Killer App.
What Is The Killer App itself?
According to Technopedia, a Killer Application is a new software application used to attract consumers and motivate new hardware device purchases.To give you the straight example – Google Search was the Killer App of the post-internet development. Can you imagine the Internet without it? Exactly, that is a piece of software, that changes “the game”.
But the Google Search, for example, started to give the huge value straight away. Bitcoin and blockchain are more like the Internet, but still without the Killer App. It should have a huge value for either technology experienced user, or someone who tries for the first time.
Is Not Bitcoin a Crypto Killer App?
Benjamin Rameau from Binance Labs actually thinks Bitcoin is a Killer App, but the future is all about its wallet concept.
“In the end, everybody who owns the crypto holds it on a wallet” – Benjamin says.
He describes the crypto wallet as an analogy to the browser for the Internet back in the days. Actually, Bill Gates also meant his Internet Explorer as a Killer App.
According to Rameau, whatever the app is going to be, the developers must pay attention to its simplicity first and solving the real problems.
“The Killer Apps is a very simple App, that solves a very big problem.”
Wait for a second, the wallet is already solving the problem, right? It stores crypto!
Well, now it is. In the future, we are surely going to the concept of “decentralized applications“. Logically, buying and storing should be in a wallet. Think about it, not a long time ago it was not possible to imagine using a phone to use and store any software. Is it possible to imagine the whole blockchain ecosystem around it now? It’s hard, but history tends to repeat itself.
Some other speakers also shared their ideas of what the future Killer App. Li Hui from Huobi said, that it might be the integrative App, that somehow gets internet giants like Facebook and Google to tokenize some part of their business, but it is only possible under their authorities. This goes against the idea of decentralization, as I view it.
Presumably, if the regular person does not even understand that an App uses blockchain technology, this might Kill It.