Part of the reason why many people are not involved in crypto is that they haven’t seen its use case yet, at least not in a way that they understand. That’s why real-life adoption is so important to the growth of this space. As such, when a blockchain like ETC is used in a process as commonplace as voting, it is a big deal. Recently, the Ethereum Classic (ETC) blockchain was used for voting by the Brazilian FinTech association. This mode of voting was used because it is more cost effective than traditional voting methods. This activity will have a huge impact on Ethereum Classic (ETC) for a number of reasons.
First, the organizations involved will take a keener look at the Ethereum Classic blockchain and could start applying it in different aspects of their organizations. The Fintech association that used blockchain in voting has more than 400 organization.
That’s a huge number of organizations, and if just a small percentage of them were to take an interest in the ETC blockchain, it could be a big deal to the value of this crypto. Chances of this happening are quite high because the ETC blockchain has many features that these organizations would find useful. For instance, the ability to develop enterprise-grade smart contracts on the ETC blockchain will be something that these organizations would take an interest in.
It’s even more enticing that the ETC blockchain is immutable, which is something that organizations treasure. In essence, this vote could open up the adoption of the ETC blockchain in the Brazilian market. On top of that, thanks to its usage in voting by this association, governments could take an interest too. Elections are an expensive affair all over the world, and sometimes results are contested due to a lack of trust in the system. By using blockchain, they could cut costs, and this could see the adoption of ETC spread quite fast.
Besides, as more organizations get to appreciate the power of ETC in voting, investors will take an interest in this crypto as an investment. The moment people realize that it can be used for such a powerful use case, they will most likely take it seriously as an investment. This has the potential to drive up its value going into the future.
In essence, Ethereum Classic (ETC) will be one of the most valuable blockchains going into the future. Its intrinsic value will be boosted by the fact that it will be introducing sidechains in 2019. Once this happens, it will be applicable to lots of industries since it will have overcome the biggest hindrance to blockchain technology, and that’s the problem of scalability. This will give it a huge use case especially in IoT, a market that will be worth trillions of dollars. Going into the future, Ethereum Classic (ETC) could hit a value upwards of $100 in the future.
Everything about it points to this direction, especially with the moves that ETC is making towards drawing in developers to the ETC blockchain. Several meetups have been held so far for developers, and it’s working out fine.