How far are we really with Blockchain?

How far are we really with Blockchain?

The word “B” is used with great regularity. Blockchain, the technology under bitcoin and the technology under many good (and less good) innovative ideas. An interesting pattern has been discovered in the media for years. Promising technology news is almost immediately followed by relativism. Something we always see when adopting new technology. Beautiful, sometimes too beautiful messages from proponents criticized by opponents. And let’s be honest, even for blockchain technology, only a handful of solutions are of added value in the beginning.

Yet this is not strange. This is part of new technology. And especially with the adoption of new technology. When I ‘discovered’ the internet in the early 1990s, I saw the same thing. To send a message I had to unplug the home phone, turn on the modem, patiently connect and I hope someone else did too. And that was just the easy part. The common man on the street would have none of it. That only changed when there was a killer app for everyone: email. For many, email was the first proof that the Internet was “useful.” But it took years before we realized what else we could do with it.

Where are we now with blockchain? Blockchain is a new technology that is undergoing a similar development. Rapid rise among nerds, slower acceptance by the general public. Ten years ago, blockchain was invented to build a better financial system. Now we use blockchain for much more than just transporting internet money. Compared to the development of the internet, we are with blockchain about the mid-nineties. The comparison between the internet and blockchain shows an identical picture with a surprisingly similar adoption curve. Opportunity? I do not believe it.

Today’s internet allows us to move information across the internet. Blockchain allows us to move value across the same internet. In a transparent, verifiable, decentralized and secure manner. A big promise! Why not start using that? There are many uses to consider. But just like with the internet in the early 1990s: you won’t believe it until you see it. And things are moving much faster now than they were then. So to all blockchain enthusiasts: show concretely what you can change with blockchain technology. To everyone else: orienting and experimenting can’t hurt. Before you know it, your company lacks the innovative power and this promising technology has overtaken you on all sides!

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