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Coinmonks Letter #29, Blockchain Needs a Killer Use Case

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The only true wisdom is in knowing you know nothing. — Socrates

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Blockchain Needs a Killer Use Case

Looking back to the end of 2017, Bitcoin and blockchain were omnipresent. News of its meteoric gains made headlines in newspapers, on TV, and on radio daily. Everyone was talking about it. A true hype. In 2018, prices were declining, and so was public interest. Even enthusiasts started to be more skeptical in their view of Bitcoin’s and blockchain’s future.

Completing the Hype Cycle

What we experienced over the past years was a textbook example of the Gartner hype cycle. From initial enthusiasm of early adopters to mass media hype to fading interest after the hype was over.

Figure 1: Gartner hype cycle

The good news is that going through the hype cycle is sort of the natural order of things for new disruptive technologies before reaching their full potential. For blockchain having gone through the trough of disillusionment, reaching the plateau of productivity is the next step. However, to get there requires mainstream adoption, which can only be achieved through real-life use cases. Some are currently being developed in finance and beyond…Read More

By Sebastian Wurst, (Sebastian is a Computer scientist, you can follow him on Twitter)

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Gaurav Agrawal

Gaurav Agrawal

Telegram @gaurav_zen , Editor — Coinmonks publication (medium.com/coinmonks) and working on (https://coincodecap.com)