Bitcoin has long been a dominant force in the crypto world but with the likes of Ether and Scrypt alternatives, the crypto scene is becoming more varied by the day. The Ether platform has become one of the most successful alternatives to bitcoin providing a stable infrastructure for a variety of applications to build on and utilise. One such application is the Slock project which is currently in its funding phase.
To put into simple terms the Slock project aims to utilise the Ether blockchain to use its smart contract technology to open up a shared and open economy for its users. The company also boasts allowing its users to rent or buy and sell anything without the use of a middleman. This is currently accomplished by the DAO token which is used currently as a primary funding method for the platform as you can buy tokens for Ether. There have been many practical applications of this technology pruposed by the company including the fact the smart contracts can be used in hotels to rent rooms. This can be viewed here : https://www.youtube.com/watch?v=-Ht23KXic1k
“[D]aohub.org (the largest community and the most likely to have a working DAO that follows our Standard DAO model to the letter), as far as we can tell, [has] not instantiated the DAO nor has it set a date for the instantiation of the DAO” before adding that “[t]he DAO will instantiate when it damn pleases, not when an Exchange decides it will. Welcome to true decentralization, middlemen not welcome.”
To conclude, the Slock project may be a revolutionary step in utilising Blockchain technology not only as a simple ledger but as a platform for buying and selling or renting goods. The DAO token linked to the Slock project will also help diversify the various options available to those wanting to explore the benefits of Bitcoin alternatives.
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