Blockchain Is All Around You Now, You Just Don’t Know It
You missed the boat ⛵🏃Or did you?
Blockchain came into the scene after the 2008 financial crash. Now there were records that couldn’t be faked. The hype was huge.
Billions were invested, 80% were scammed. Of 5000+ active cryptos, only a few hundred are backed. 1/3 of those using Gold failed.
The interest peaked in 2017 almost reaching Pizza level.
A Decade Passed. What Happened? Why Don’t We Hear Anything?
Actually, a lot is going on but the media has other things to do. Blockchain remains a niche topic. Only Bitcoin searches remain steady after the peak.
Finance remains the biggest player in the blockchain space now in the 4th generation.
Many major corporations use and develop BC. It’s just not in the news.
For example, 80+ banks in Italy use blockchain, giant IoT syndicates in Singapore do so as well, and there are many App wallets for all kinds of purposes.
Blockchain — when used wisely — streamlines processes. Records, transactions, authentication in general, and even fully automated processes with self-executing contracts are possible.
The transfers of the Italian banks that used to take 1–2 months are now completed in 24 hours. Previously they had to send physical tapes. Regulations that apply to all other methods except BC stood in the way.
It’s Everywhere Now
The entry of Blockchain/Crypto can be compared to Apple’s hype when the first iPhone was released. While Apple remained in the spotlight ever since, Blockchain now resembles 7-eleven. Just like the convenience store chain, nobody really noticed how BC became part of their life and spread all over the place. Here are some recent examples:
- Visa, Mastercard […]
incorporated crypto/BC into services - Swiss banks
now trading crypto - Tesla
uses BC for Shanghai factory logistics - Data Science
competition platforms with tens of thousands worth of dollars use it for the validation of competitors, data and AI models - Majors like Facebook, Amazon, Google, IBM, Microsoft […]
On it early, never quit. Countless more including recruiters - Many chains offer hundreds of dollars for someone to host a witness-node on their computer. Unlike mining, this doesn’t require access to cheap electricity or technical knowledge and has brought many into the scene, but it’s not a get rich quick scheme either.
Conclusion
This doesn’t mean there is no news at all. The race between Facebook [Libra] and China [Digital Yuan] for example could go as far as to break and replace the United States’ monetary sovereignty. Not that we will care. Crypto is too unintuitive, far from mass-adoption, and when it is used it’s a background thing.
It’s the same as the internet. Everyone uses it, close to no one knows how exactly it works.
