The Lasting Impact of the “Blockchain Bubble”
BLOG: Blockchain and cryptocurrencies may be reminiscent of the dot com bubble — but that doesn’t mean they won’t have a lasting impact.
Craig Sproule — 9 May 2018
There has been explosive growth in the blockchain and cryptocurrency world. Some projects are incredible; some mean well, but miss the mark, or can’t deliver on their promises; others aim to take advantage of the enthusiasm surrounding this nascent space, and have rightfully resulted in the banning of advertisements for everyone in the industry.
They say history doesn’t repeat itself, it rhymes. And when I look at the landscape of the blockchain and crypto industry today, I’m struck by how similar it feels to another exciting period of innovation: the dot com boom.
It’s just a bubble. It’s interesting, but no one will really use it. It’s too complicated, it will never catch on. None of these companies really do anything. Why are people throwing so much money at this? — All statements made repeatedly in the late 90’s to early 2000’s, the echoes of which can be heard today when discussing blockchain and cryptocurrencies. We know today just how wrong they were.
The fact is, a lot, if not most, of the early internet companies failed. Some had good ideas, but they were too early, or not executed as well as by their competitors, or simply fell apart. Others, you could question whether success was ever their goal, vs a quick, well-funded exit. But even many of those that fell by the wayside along the way have helped shape the world we live in, and some of the most powerful companies to ever have existed were born of this era.
New technologies breed new ways of looking at our world, new innovations and ideas, and while some will not stand the test of time, others will become so embedded in our lives, we will wonder how we ever lived without them. At the danger of sounding immodest, we believe we’re in the latter camp.
With a working technology that both solves real business problems and encourages more innovation, we’re well positioned to have a lasting impact on the blockchain landscape. This is the technology of the future, and we make it easy for anyone to adopt it — we can’t wait to see where the industry will go, and the amazing things people will create on our platform.
Craig Sproule
CEO & Founder
ww.crowdmachine.com
To test drive Crowd Machine’s no code app development engine — click here.
