Every second person you know is trading on crypto currency. It has now become the main street casino punting. Many countries are clamping down on this for illicit money laundering and people are scrambling to create new exchanges in the dark web.
Step back and step out.
Do not miss the real power of the technology behind. The Distributed App world on Ethereum ( in many ways not very dissimilar to Apple app store or Google Play Store) has many applications that are rewriting business models in a number of industries. From automated claim processing triggered by trusted reference data ( Farmer gets paid insurance money when weather.com confirms draught in a region) to transparent running of lotteries, the applications are end less. They are removing middle agents/ knocking down traditional cost structures and bringing transparency that never existed in many industries.
Media does not talk about this, there is no 'hot stock tip to make quick buck' and nobody talks about these.
Agreed that the underlying blockchain technology has its teething troubles, has to overcome some objections but so did e-commerce in its early days. How many of us were comfortable banking online or using credit card online ? Today it has become passé. Same thing will happen to Blockchain. The teething troubles will get ironed out, it will get more secure and the adoption will spiral.
The true power of Blockchain is not in the headlines on Bitcoin prices! It is in destroying a traditional industry business model for a better one!
No comments:
Post a Comment