[ad_1]
Why are there no more companies that take advantage of blockchain technology?
by Manoj Sharma for CNR
Blockchain technology has been on the market for about ten years, yet adoption levels are still surprisingly low. But why is this so?
It was January 2009 that the first version of the Bitcoin protocol was officially released. Overstock.com was one of the first to adopt Bitcoin as a payment method, and the member of the board and the former president of the company, Jonathan Johnson, was part of the decision to embrace the blockchain technology soon.
In a post published on TechCrunch, Jonathan shared the three main challenges that should be addressed immediately before the full potential of technology can be realized. And maybe these are the factors that hold back the technology.
According to Jonathan, Overstock understood the potential of the blockchain in advance, as well as understanding that for mass adoption, start-ups in the similar space would need human capital along with finance.
Overstock has filled this gap by establishing Medici Ventures, a venture capital blockchain incubator to support start-ups in areas such as banking, money transmission, capital markets, voting rights, property and the chain of venture capital. supplying.
According to Johnson, there are three main challenges that hold back blockchain technology from mass adoption.
These are the lack of better blockchain developers (an area that admits have been improved), the attitude of regulators (with the crackdown on the American Securities and Exchange Commission on ICO cited as an example) and the achievement of a critical mass. In no uncertain terms, the number of resellers and buyers who use digital currencies must grow.
In fact, Johnson believes that exponential growth will only follow when critical mass is reached. In his words, "we will know that blockchain technology has become mainstream when we are no longer talking about it, but we are simply using it in every way". Just when will it be? It's the big question without an answer …
