This Revolutionary Use for Blockchain is Hiding in Plain Sight

They were asked if they considered cryptocurrency and blockchain revolutionary.

While these aspects of blockchain are compelling, I think they distract from what, to me, seems like one of the most interesting and immediate features of blockchain technology: the commoditization of transactions.

It's incorrect to say that blockchain transactions don't involve a middleman.

Blockchain transactions aren't necessarily peer-to-peer.

The innovation is that thanks to the protocol, one miner's transactions are as good as any other's.

While miners might charge different amounts to process transactions, in the eyes of the protocol, all transactions of the same type are equivalent.

If a miner tries to create a proprietary transaction to gain an advantage, that transaction will be rejected.

If you look for businesses that exist to monetize transactions, you'll see them everywhere.

Even social media posts are transactions that platforms hope to monetize.

With a protocol that allows public participation while mitigating consolidation, blockchain has the potential to obliterate business models and radically lower costs through the commoditization of transactions.