Building the Frontier and the Future: Decentralized Digital Economies – DynaQuest Technology Services
Our innate optimism dictates that the worst of the COVID-19 global pandemic is over and we, as a society is rebuilding the economy in the aftermath. The question now is where do we go from here and where?
“I can’t tell you where the global economy will be by the year 2025, but what I can tell you is that the global economy will further benefit from the billions of dollars from the contribution of the emerging decentralized economies,” said Randy Knutson, the CEO and Founder of DynaQuest Technology Services Inc., an award-winning Blockchain Solutions Provider based in Manila.
The emergence of Blockchain has been a game-changer for the global economy and its pillars. To give you a picture of the scale of its disruption, what started as a select few group of upstarts in a radical new technology known as Bitcoin – the supporting technological structure – known as Blockchain — have since moved into the industrial use case of banks, finance, insurance, trade, logistics, agriculture, and real estate. These industries are what drives and defines economies and our quality of life in society. Now, Blockchain has moved from the big stage out of the big players and into the palm of consumers and it is another commercial revolution that is happening right before our very eyes. You get Non-Fungible Tokens (NFTs) being a highly lucrative and commercially high-demand volumes.
You get games powered by Cryptocurrency and the participation or investment of time and effort in “the grind” can yield income opportunities in a gamified economy. Chances are you have seen digital arts and digital collectibles from hobbyists and traders – from the NBA Top Shot to Bored Apes.
“You may not know it, but chances are you’ve transacted or encountered Blockchain at some point in the past three years,” said Randy Knutson.
“Decentralized economies will feature both Blockchain and adjacent technologies alike, seamlessly connected and letting business or finance flow as it should be.”
The Growth of Blockchain and Decentralized Economies
The growth of Blockchain and its decentralized infrastructure have allowed it to be deployed across key industrial levels from agriculture to space exploration. The next frontier for the technology is to welcome more participants by allowing or enabling itself to connect to “legacy” properties such as servers and enterprise software. A big example is how banks can partner up with a seamless payments’ solutions under fintech. This allows the bank to expand its financial services and maintaining its competitive share in its market.
According to the Fortune Business Insights, the Blockchain market will be worth $69.04 Billion US Dollars by 2027. In a frontier market with an evolving landscape thanks to each breakthrough that dictate new trends, new standards, and new market leaders; enterprises who invest and explore transformation under Blockchain will be competitive in the next set of years.
“The technology transformation has accelerated,” said Randy Knutson. “It was just a few years ago where we were talking about probable use cases and now, we’re talking about how to transform Blockchain itself to further its innovative capabilities.”
In no exaggeration, things have changed as technology revolves around business and consumer use. It was not too long ago that we were lining up for movies and their DVD release. Now, we have content on demand providers and the ability to be content creators. We’ve gone from gaming in front of a tube, to a connected gaming experience where we can deeply personalize our online avatars and build a closely-knit group with that experience. Content creation and gaming are but small samples of a billion-dollar industry where Blockchain and adjacent technologies are redefining new monetization strategies and the end-user experience. The strength of the Blockchain economy is how it will enable unprecedented value creation for both businesses and consumers. An increasingly “opt-in and create” economy is what drives entertainment and business startups today. The startup has more options to accelerate their business development through technology and the digital means to express and market themselves.
Randy Knutson believes that DynaQuest is a solutions provider and a creator of new ventures under Blockchain.
“Over the years, we have worked with privately funded sustainability focused groups in reinventing local and indigenous agriculture through the injection of technology as accelerators for growth and for them to be connected to an increasingly globalized, localized market. Now we are working with financial transformation groups to create new business models in regards with incorporating finance, fintech and the Blockchain infrastructures.”
The Future of Economies
“The future of economies is how we envision and rework it,” said Randy Knutson. “Rather be just an onlooker or observer, we have the technology to accelerate process development and numerous economic cooperation.”
It is with that mindset that Randy founded DynaQuest Technology Services Inc., in 2013. After quickly establishing itself as a specialized outsourcing solutions provider, it did not take long for Randy to steer the ship into new waters such as insurance transformation, telemedicine and Blockchain. Fast forward to 2022, DynaQuest is busy redefining new markets and new opportunities as it works with groups and partners who are also focused on developing new horizons through innovation with Blockchain.