Welcome to my three part series on what investors are missing about Dash. In this post we will explore Dash Platform and the implications it is about to have on the industry.
In recent years Dash seems to have fallen out of the investor spotlight and I can understand why. Its project dubbed Evolution seems to be two years late and not every investor has the patience to hold on for that long. However what most investors don’t understand is that Evolution was a multiphase process and we have seen this process role out over the last two years with innovations like Special Transactions, LLMQs, Chainlocks to name a few. Dash has definitely not disappeared and the community is about to see years of hard work finally hit the mainet in a release called “Dash Platform” and what many deem to be Dash Evolution.
Dash Platform is an absolute game changer, it is the missing data layer piece in blockchains. Most blockchains store data such as balances and transaction history but Dash is about to extend upon that by allowing users to create Blockchain User Accounts that store all kinds of data such as but not limited to; Usernames, Contact Lists, Shipping Addresses etc. This data layer could be used for all types of things such as storing Tokens, Credit Card Credentials, Date of Birth Details, Public/Private Keys for other Blockchains. The possibilities are endless.
The applications that can be built using this data layer are immense. When you store the data on the network and make it accessible to developers via an API then developers can provide you with a nice user interface and allow you to import all your data into that interface. Imagine deciding that you want to port your money from JP Morgan to Uphold, the process involved in this is huge. Well imagine if JP Morgan was just a user interface for your Dash Account and your Dash account had all your assets stored inside of it. You could easily move from JP Morgan to Uphold by just logging into your Dash Account on Uphold and all your assets would appear ported. This has far reaching implications and turns Custodians into User Interfaces.
These interfaces that allow you to login with your Dash account are going to compete by giving you access to many financial tools or specialising in niche functions to keep you as a customer. For example, the DashPay wallet seems like it is going to be an amazing consumer payments tool but I want something else for my finance side. So I might have one app for Dash Payments and another for Dash Banking but both will access the same data layer from my Dash User Account. Think of a Dash Banking app that provides plugins to all types of financial applications. I can imagine a Dash Banking app to give you access to lending/borrowing, equities, commodities, bonds and foreign currencies etc via plugins with partners. Just like how the DashPay app allows you to currently purchase/sell Dash via Uphold, other Dash products will allow you to do much more.
The products that start to emerge from Dash Platform are going to be amazing. This functionality is going to be as big of a breakthrough as what smart contracts were themselves. I think in the next 12 months the lights will start shining on Dash once again.
In my next write up I explore the implications of the Dash treasury expansion in the next bull market…. See here