Innovating with Bitcoin at MIT
Bitcoin is a payment system invented by an unidentified programmer under the name of Satoshi Nakamoto that was released as open source software in 2009. Although what I read on these article was very, very exciting and innovative, I did a little more research because I got interested in the subject and I found an article of 2016 wrote by Rebeca Campbell where she explained how the project launched by MIT was not that successful. To read: (https://www.cryptocoinsnews.com/mit-study-bitcoin-not-popular-students/)
And that´s what happens with a lot of Innovations. The theory of Diffusion of Innovations refers to the process that occurs as people adopt a new idea or product, if it works, if it doesn't, if its factible… This theory includes how people react to the innovation and how it is spread. Its not common that our population accept an innovation a 100% when its launched… people prefer to wait and see how the adopters work with it.
Rubin and Elitzer, the innovators, gave the opportunity to these undergraduate students of MIT, the adopters, to be part of an innovation that they knew that could or could not work… they put all their work on it, they tried to make a system in which they tried to offer something that already existed at a lower cost, but it may have been a little bit complicated for people that are not that into technology.