The Potential of Crypto Is Still Unrealised

Picture by Joey Kyber

The future value of blockchain has not revealed itself just yet, even though startups are constantly working towards finding solutions. Is this something we should be worried about?

Well no, not really. Even if it takes some time for blockchain to evolve into a fully fledged form that truly takes hold of the world, the technology is logically and technically sound. The future will focus on real business uses with tokens that solve real problems and represent a true, tangibly-backed value.

Some patience might be needed here, though. Consider the first Motorola which made the very first wireless call, in 1973. It wasn’t until ten years later that mobile phones went to market in the USA and even then, they came at a price of nearly $4,000 for each device.

The headline is this: complex technology can take some time to become ready for the mainstream market. We haven’t even figured out all of the potential use cases for the blockchain — this might be near-limitless — and there still remain many challenges to overcome, but it is undoubted that blockchain carries the power to revolutionize industries and markets across the world.

Opening the doors to the general public is when blockchain will begin to take hold but it is when they start coming through that it will take off. Once the tech has peoples’ attention and basic knowledge improves a little bit, and becomes more widespread, then it is set to take the world by storm.

This could become a self-perpetuating cycle as the nature of peer-to-peer technology on a distributed ledger means thats the more users there are, the more successful a platform is likely to be.

From this, once people have real confidence in a crypto token, aka. one that demonstrably holds value, then adoption could be rapid and widespread. The step forward might not be obvious right now — it does depend on a stable token consistently showing real value — but it might be in a utility token used to transact and engage with a successful blockchain-powered platform.

It’s not really about finding the next Bitcoin, though, or even becoming #BiggerThanBitcoin, but instead focusing on what is already more important than all of this: the blockchain technology which may prove to change forever the way we run our lives.

The cryptocurrency world is not a gold-rush and short-termism more often than not does a great deal more harm than good. Right now, we are at the frontier that we need to cross before we are ready to make the biggest world-changing leap since the Internet.

It sure bothers me though that too many in Crypto who’re doing an ICO are just in for a handout and not really intending to build something of value for others and themselves but that’s just my opinion dear readers.