12.3 Use Cases on Interoperable Blockchains

While the use cases on public Blockchains are widely discussed,

they can achieve a new level by the adoption of interoperable

Blockchains. With interoperable Blockchain’s infinite scalability and

access to the global network, some of the use cases that would be

most benefitted are as follows:

NFT or Non-Fungible tokens

Decentralized Finance or DeFi

12.4 Why the organizations stay away from public

Blockchains?

In the last five years, the enterprises are more focused on the private

permissioned DLT, rather than researching on public Blockchains.

Why?

It’s because the business model and architecture of the traditional

organizations can never align with the philosophies of a public

Blockchain. Traditional organizations work on profit and loss models

and public Blockchains need a long term vision and it works on token

economics.

They can’t think of giving the controls in the hands of the public. The

name “public chains” explains itself. It can be like the network will

handle billions of dollars. Frauds in the cryptocurrency markets are

pretty well known. The hackers always target the loopholes in the

technology and steal in open daylight by just transferring it to another

account, and no one on the earth will be able to do anything about it.

The following are some of the biggest scams in the cryptocurrency

market:

In 2015, cryptocurrencies worth US$5 million were stolen from a

Luxembourg based crypto exchange, Bitstamp. Similarly, in 2019,

cryptocurrencies worth US$40 million were stolen from Binance and

$60 million worth of cryptocurrency from NiceHash in 2017. US$60