Redditors discussed use cases that could add value to Ether, from trusted universal authentication to decentralized autonomous organizations.
While Ethereum (ETH)’s price drop over the weekend may have made investors concerned about the digital asset, members of the community on Reddit discussed use cases for the asset that could push its price higher.
On r/Ethereum, a Reddit user asked fellow community members how ETH could reach a $500 billion market cap. One Redditor user criticized the use of smart contracts for real estate, noting that he hadn’t seen a compelling example that could boost ETH’s value, such as how Bitcoin (BTC) is viewed as a substitute for gold.
Redditor u/WarhorseLand refuted the original poster’s point of view on smart contracts and real estate. According to u/WarhorseLand, while no filings have been made yet, the real estate industry can prevent “key money fraud” with the security that smart contracts offer.
Additionally, u/WarhorseLand claims that generic untrusted authentication is the “best use case” for smart contracts. Redditor believes the use case of allowing people to prove who they are beyond a reasonable doubt could spur positive price action for the digital asset.
Redditor u/SgtHappyPants talked about multiple use cases including decentralized certificates and financial contracts. They also stressed the importance of decentralized autonomous organizations or DAOs. According to them, Ethereum is a global interoperability platform that allows you to organize a new class of organizations.
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Another participant compared Ethereum to popular platforms like Craigslist and Ticketmaster. A Reddit user mentioned that Ethereum could improve these platforms by replacing the third-party provider with blockchain, which allows for secure transactions with lower fees.
Meanwhile, Ethereum founder Vitalik Buterin recently shared his thoughts on blockchain use cases. In his blog, Buterin mentioned non-financial uses like data storage and retrieval, and trust and censorship resistance. He also shared his thoughts on ideal voting mechanisms.