Blockchain technology is not new, many might not realize it but it is almost ten years old. It’s a lot of time, some might even say that there are technologies that achieved more in a similar timespan. That might be true, to be honest currently we don’t have too many production-ready use cases beyond value transfer and tokenization of venture investment. Combined with a substantial time that passed since the emergence of the technology it makes us realize that now we might face a watershed moment, which defines where the technology goes from here, to the shining goal of mass adoption or to obscurity.
I do think that obscurity is not an option; even if we don’t have too many successful use cases the sheer potential contained in the blockchain tech is so strong that it just can’t fizzle out and be forgotten. We deal with a totally new technical paradigm, which runs counter to all the history of human technology, in the course of which we invented centralized systems and mechanisms only. With blockchain we are able to create systems (or at least prototypes) that run on their own, according to the protocol we constructed, with no central power to control them and no central point of failure that can bring the whole system down. We create systems that are akin to the systems created by nature, turning subjective society laws into objective laws similar to the laws of nature....
To keep reading, please go to the original article at:
Waves Platform - Medium
This article was first published on: Waves Platform - Medium All content is synced from the rightful owners. Copyright on text and images belong to the original source. --