The Stumbling Blocks To Blockchain’s Takeover


Only less than a handful of technologies have created such a buzz and controversy as blockchain has. To some people, technology is transformative and critical to the future of technology. To others, however, it’s the opposite; a complete sham, a Ponzi scheme, and a fraud. How can you reconcile the two divides? By shunning ignorance.

Maybe then, critics can learn that there is more to the technology than what they have heard. But to be fair, some issues they have aired are quite honest and need addressing. At the same time, these issues are only meager to the solution blockchain presents in regards to the current tech problems.

The Road To Fame

Some of the most successful personalities today began their careers with tabloid notoriety. Today, they are idols and are making millions in their respective industries. Whether their past was a mistake or well-orchestrated plans to super-fame, it doesn’t matter. What matters is that it worked out well for them.

Since Blockchain’s inception, reputation has been a problem. And the problem is not with the technology at all. Even the worse of critics acknowledge that the code and idea underlying blockchain is sound. But the public has been made to understand that blockchain promotes bad behavior.

The first public blockchain consciousness was the Silk Road scandal. It’s understandable, therefore that the average person would misunderstand the technology. But as time goes on, people have to acknowledge blockchain for what it really is; a solution to inflations, untrustworthy regimes and a host of other problems in our society.

Over the past year, there are noticeable changing trends. Blockchain is regaining acceptance. Multinationals and institutions are adopting the technology. It has changed the beholder’s eye in regards to how they perceive the technology.

The Difficult Blockchain Language

To some extent, blockchain remains mysterious in regards to how it functions. Even to developers, the code is not the typical well-known program language. Blockchain’s code is hyper-complex and has made it inaccessible even to programmers.

But the code is not the only challenge. The language associated with the technology is also largely unfamiliar. Take for example mining, the average adult associates the term with drills, pickaxes, and bores and not computers and cold data centers. Even the term blockchain itself is unfamiliar.

The solution to this difficulty is inventing new relatable terms like ‘Distributed Ledger Technology’ for blockchain or familiarizing the terms to become second nature — either way, the blockchain community needs more education, familiarization, and clarifications.


The Big Break

Twitter was launched as far back as 2006. It was merely a fun social media website frequented by its founders. All that changed in 2008 when it was adopted by a rising politician; Barrack Obama.

Obama used Twitter for his campaign and even after getting elected, created a white house handle. Membership skyrocketed to what it is today. It now plays a massive role in journalism and reputation management. Today’s US president manages his own twitter account.

Sometimes, technologies need pushing. Blockchain’s success can be fast-tracked by mainstream adoption by institutions. Audiences will get a sense of security, and it will lead to more blockchain acceptance.

We can see the aggressive interests of Facebooks in the blockchain. Some of the worst critics are also changing their minds, the likes of Jamie Dimon, CEO at JPMorgan and Chase. Many more multinationals are on the hunt for engineers, specialists, and experts in the blockchain field. All these are signs of a takeover, not far off; time is the distance.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Share via