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Many people argue that cryptocurrencies are the revolution, not to mention technology. How can you blame them? They only started talking about blockchain and crypts during the bitcoin boom last year.
I say, it is time that we know how to separate technology from its application.
Blockchain technology is potentially capable of causing a massive paradigm shift, which decentralizes systems and processes for businesses, organizations, economies and governments. Blockchain technology simply generates trust in intrinsically "trusted" interactions and denies the need for a centralized intermediary to attest to events.
Cryptocurrency, for example, is an application of Blockchain technology that functions as peer-to-peer money without the input of banks as a central registration or settlement intermediary.
"Compared to the Internet, we are still very early in. The network had been around for a while before the dotcom boom in the late 1990s," says Ian Balina, a blockchain influencer. "There is a lot of volatility in space, due to growth and speculation, of course, prices increase tremendously and fall tremendously.Whenever this happens, the industry becomes more mature, with current adopters filtering out. the signal from the noise. "
Unfortunately, Blockchain is still far from miles to attract the critical mass needed to unlock its mass market adoption. The results of a survey conducted by the UK-based HSBC bank, last year it revealed that 59% of customers surveyed did not hear about Blockchain and 80% of those who have heard of it do not really understand what it is.
Many people mistakenly mistaken blockchain with Bitcoin and the first Bitcoin associations with Silk Road are making many people adversely affected by cryptocurrencies. Bitcoin has come to the fore for its use on Silk Road as payment for illegal and borderline criminal activities due to the anonymity he has ensured in settlement transactions.
The subsequent feelings of the Silk Road and Bitcoin media and the possible removal of the site and its operators have succeeded in ensuring that many traditional financial institutions, businesses and private individuals did not entertain the idea of Bitcoin as a means of payment.
It is virtually impossible to discuss blockchain technology without mentioning its collocations with cryptocurrency; therefore, the first mention of Blockchain often evokes memories of Bitcoin and Silk Road. Nonetheless, Blockchain technology is fundamentally different from cryptocurrency. In fact, cryptocurrency is just one of the many possible applications of Blockchain.
Some fans believe that Blockchain could change the world, but most of the ideas about the disruptive nature of Blockchain technology are still in landing pages, white papers and technical documents. For the most part, the truly disruptive applications of the Blockchain technology beyond cryptocurrencies are still in the planning stage and may take a couple of years to come to market as MVP.
Interestingly, many of the business customers who are experimenting with Blockchain technology are only using it to store business data as they gradually reduce dependency on centralized databases.
Of course, some high-tech startups are already looking for ways to use blockchain to take advantage of existing technology. Nonetheless, the fundamental challenge is the paradox of eggs and hens. Some companies will not invest in seeing Blockchain applications until there is a mass adoption of technology; unfortunately, there can not be mass adoption until there are applications ready for the market.
"Blockchain is rapidly moving from the stage of fat protocols, where all the values are generated in the protocol layer, in the fat application stage (DApps)," says & nbsp;Erez Ben Kiki, founder of 2Key Network, "The bases that have been built are powerful enough to host applications, which will attract users who are not necessarily interested in the financial side of it, but from actual use."
The cryptocurrency market suffers a huge volatility that is exponentially larger than the types of volatility recorded in other assets such as stocks and exchanges.& Nbsp; In the period since the beginning of the year, the market capitalization of the entire cryptocurrency market has decreased by 56%, in contrast to the massive gains of the same period last year.
The The SIFR volatility index for cryptocurrency is currently around 54.6 and this year has reached 148.11. For the context, the long-term historical annualized average of the realized volatility of the S & S index P 500 is around 15% / year.
The volatility in the space of cryptocurrency and the rules of comparison between cryptocurrency and Blockchain, make the blockchain a technology to be perceived as fragile and unstable. Unfortunately, the criticism and the openly antagonism that the cryptocurrency faces from traditional financial institutions invariably fades on Blockchain technology.
Many traditional financial institutions believe that cryptocurrency is too volatile to be a reliable form of money – implicitly, many people believe that Blockchain technology is inherently unstable or unreliable. So, other Blockchain applications such as tokenization, Smart Contracts and automated governance& Nbsp; they are obscured by the negativity surrounding the cryptocurrencies.
It is noteworthy that the high-tech blockchain industry has seen some growth towards maturity last year. Little by little, it seems that entrepreneurs are coming to understand the need for such technology and are not afraid to plunge into these unexplored waters.
Ivan Liljeqvist, a well-known influencer of Blockchain and the face of the YouTube channel of "Ivan On Tech" are optimistic: "Blockchain is an industry full of opportunities, we are open source and we transform the way Internet works by decentralizing digital money, computer science and data. "
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Many people argue that cryptocurrencies are the revolution, not to mention technology. How can you blame them? They only started talking about blockchain and crypts during the bitcoin boom last year.
I say, it is time that we know how to separate technology from its application.
Blockchain technology has the potential to cause massive paradigm shift, which decentralizes systems and processes for businesses, organizations, economies and governments. Blockchain technology simply generates trust in intrinsically "trusted" interactions and denies the need for a centralized intermediary to attest to events.
Cryptocurrency, for example, is an application of Blockchain technology that functions as peer-to-peer money without the input of banks as a central registration or settlement intermediary.
"Compared to the Internet, we are still very early: the Internet has been around for a while before the dotcom boom in the late nineties," says Ian Balina, an influencer blockchain. "There is a lot of volatility in space, due to growth and speculation, of course prices rise enormously and fall tremendously, every time this happens, the industry becomes more mature, with current adopters filtering the noise signal ".
Unfortunately, Blockchain is still far from miles to attract the critical mass needed to unlock its mass market adoption. The results of a survey conducted by the UK-based HSBC bank, last year it revealed that 59% of customers surveyed did not hear about Blockchain and 80% of those who have heard of it do not really understand what it is.
Many people mistakenly mistaken blockchain with Bitcoin and the first Bitcoin associations with Silk Road are making many people adversely affected by cryptocurrencies. Bitcoin has come to the fore for its use on Silk Road as payment for illegal and borderline criminal activities due to the anonymity he has ensured in settlement transactions.
The subsequent feelings of the Silk Road and Bitcoin media and the possible removal of the site and its operators have succeeded in ensuring that many traditional financial institutions, businesses and private individuals did not entertain the idea of Bitcoin as a means of payment.
It is virtually impossible to discuss blockchain technology without mentioning its collocations with cryptocurrency; therefore, the first mention of Blockchain often evokes memories of Bitcoin and Silk Road. Nonetheless, Blockchain technology is fundamentally different from cryptocurrency. In fact, cryptocurrency is just one of the many possible applications of Blockchain.
Some fans believe that Blockchain could change the world, but most of the ideas about the disruptive nature of Blockchain technology are still in landing pages, white papers and technical documents. For the most part, the truly disruptive applications of the Blockchain technology beyond cryptocurrencies are still in the planning stage and may take a couple of years to come to market as MVP.
Interestingly, many of the business customers who are experimenting with Blockchain technology are only using it to store business data as they gradually reduce dependency on centralized databases.
Of course, some high-tech startups are already looking for ways to use blockchain to take advantage of existing technology. Nonetheless, the fundamental challenge is the paradox of eggs and hens. Some companies will not invest in seeing Blockchain applications until there is a mass adoption of technology; unfortunately, there can not be mass adoption until there are applications ready for the market.
"Blockchain is rapidly moving from the fat protocols stage, where all the values are generated in the protocol layer, in the fat application stage (DApps)," he says. Erez Ben Kiki, founder of 2Key Network, "The bases that have been built are powerful enough to host applications, which will attract users who are not necessarily interested in the financial side of it, but from the real use."
The cryptocurrency market suffers a huge volatility that is exponentially larger than the types of volatility recorded in other assets such as stocks and exchanges. In the period since the beginning of the year, the market capitalization of the entire cryptocurrency market has decreased by 56%, in contrast to the massive gains of the same period last year.
The The SIFR volatility index for cryptocurrency is currently around 54.6 and this year has reached 148.11. For the context, the long-term historical annualized average of the realized volatility of the S & P 500 is around 15% / year.
The volatility in the space of cryptocurrency and the rules of comparison between cryptocurrency and Blockchain, make the blockchain a technology to be perceived as fragile and unstable. Unfortunately, the criticism and the openly antagonism that the cryptocurrency faces from traditional financial institutions invariably fades on Blockchain technology.
Many traditional financial institutions believe that cryptocurrency is too volatile to be a reliable form of money – implicitly, many people believe that Blockchain technology is inherently unstable or unreliable. So, other Blockchain applications such as tokenization, Smart Contracts and automated governance they are obscured by the negativity surrounding the cryptocurrencies.
It is noteworthy that the high-tech blockchain industry has seen some growth towards maturity last year. Little by little, it seems that entrepreneurs are coming to understand the need for such technology and are not afraid to plunge into these unexplored waters.
Ivan Liljeqvist, a well-known influencer of Blockchain and the face of the YouTube channel of "Ivan On Tech" are optimistic: "Blockchain is an industry full of opportunities, we are open source and we transform the way Internet works by decentralizing digital money, computer science and data. "
