While Ether’s (ETH) price dip over the weekend may have left investors worried about the digital asset, community members on Reddit discussed use cases of the asset that could push its price upward.
In r/Ethereum, a Reddit user asked fellow community members how ETH could reach a market capitalization of $500 billion. Criticizing the use of smart contracts for real estate, the Redditor noted that they had not seen a convincing case that could solidify ETH’s value, like how Bitcoin (BTC) is viewed as a replacement for gold.
Redditor u/WarhorseLand offered a rebuttal to the original poster’s perspective on smart contracts and real estate. According to u/WarhorseLand, while there have been no applications yet, the real estate industry can prevent “closing day wire fraud” through the security offered by smart contracts.
Additionally, u/WarhorseLand argued that universal trustless authentication is “the best use case” for smart contracts. The Redditor believes that a use case letting people prove who they are without a doubt could spur positive price action for the digital asset.
Redditor u/SgtHappyPants brought up several use cases, including decentralized certifications and financial contracts. They also highlighted the importance of decentralized autonomous organizations, or DAOs. According to them, Ethereum is a global interaction platform that enables a new class of organizations.
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Another participant compared Ethereum to popular platforms like Craigslist and Ticketmaster. The Reddit user mentioned that Ethereum could enhance those platforms by replacing the third party with the blockchain, allowing secured transactions with lower fees.
Meanwhile, Ethereum founder Vitalik Buterin recently shared his thoughts on blockchain use cases. In a blog post, Buterin mentioned non-financial applications such as data storage and retrieval and trust and censorship resistance. He also shared his thoughts on ideal voting mechanisms.