The potential use that can be made of it is huge. The ultimate prize is that it helps make bitcoin “a” possibly “the” currency of the IoT. Machine money. They view bitcoin as a new system resource for computers. It’s much the same vision as Safe. Perhaps Safecoin will also play a big part. I certainly hope so, but I would not underestimate 21. It’s run by super smart people and backed by a lot of interesting capital, including Qualcomm.
“Ping21 is a sneak preview of the machine economy, which 21 is attempting
to cultivate. In addition to a currency, 21 also views Bitcoin as, potentially, a new system resource
for computers. Bitcoin has essentially enabled the set of incentives necessary for devices to trade data and services on a level that was not possible in the past.”
From an interesting article that fleshes out some of these ideas: