As we move into 2019, there is no better time to reflect on the true values of blockchain. Although there have been many misconceptions and doubts of where blockchain technology will go in the foreseeable future, we’re here to tell you that this technology is here to stay. In the current bear market, we’ve seen more emerging industries incorporating blockchain technology than ever before, and we believe that this adoption isn’t stopping any time soon.
Blockchain is still in its infancy, and there are certain values that must remain true to continue the success of such a new technology. These values build the foundation for successful adoption over time and give every individual the confidence to build a better future together.
Patience
This past year, cryptocurrencies experienced dramatic shifts in volatility, transparency, and trust among its users. While some people lost hope in the speculative market, many more gained additional appreciation for the applications of blockchain across several industries.
As much as we would like to see blockchain reach critical mass, we must continue to remain patient. No technology is perfect from the start; rather, it endures many changes over time. In the case of blockchain, we often see projects learning from each other, with stakeholders adjusting their own technologies to strengthen overall performance and usability. Failed innovations, rash decisions and centralized systems are expected in this newly-built landscape. However, there are lessons to be learned from crypto’s previous shortcomings.
In the future, blockchain technology could affect every aspect of business. However, this is a gradual process that requires time and patience.
Optimism
With the current state of the market, people tend to resort to the price valuation of crypto as a gauge of how blockchain is doing. However, this past year featured more adoption across a variety of industries, including supply chain management, economics, and energy resources. Remaining optimistic about the state of blockchain will only help this revolutionary technology flourish.
As more industries integrate blockchain technology and decentralized applications continue to grow, we will begin to see an ecosystem unfold unlike never before. Having an optimistic outlook can only help strengthen the crypto community and, ultimately, blockchain technology itself.
Focus
With any new technology, there will be widespread speculation. People will express doubts and frustrations, but these doubts and frustrations shouldn’t overshadow the underlying goal of blockchain. If we believe that blockchain technology has the power to cause a massive paradigm shift, one that decentralizes systems and processes (and we do), then we must not lose focus.
If we want blockchain technology to disrupt the world, we need to keep the larger picture in mind as we endure the ever-changing landscape. If we lose focus of the bigger picture, we will get lost along the way. Now, more than ever, blockchain needs a supportive community, one that looks to build a foundation together.
Vision
The true vision behind blockchain technology persists. Blockchain technology is a shared, immutable record that allows communities to transact with each other in an efficient, transparent, peer-to-peer manner.
This mechanism brings every individual to the highest degree of accountability and solves the problem of manipulation. By keeping the fundamental purpose of blockchain technology in mind, we are able to build the shared vision of our future.
This allows us to invest our time and resources into applications that uphold this ideal vision. There will always be bad actors that try to steer us off-course, but understanding the true purpose of blockchain will ultimately help us make better decisions.
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While blockchain is still in its relative infancy, the possibilities for adoption are endless. To keep the continuous momentum forward within blockchain, we must maintain values of patience, optimism, focus, and vision. By maintaining these values, we will be able to continue building a future where blockchain has a massive impact.
There will always be doubt, fear, and confusion stemming from new technologies. However, with these values, we will be able to continue building what we know to be true. In the future, blockchain technology will be everywhere, which is why it’s an incredible infrastructure we need to support now.
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