Leave
Request

Blog


Blockchain is dead, long live blockchain

Once not so long ago, a world-wide data storage algorithm called blockchain was created. And every mention of the technology is bound to the currency, initially to Bitcoin and later to many of its counterparts. But bitcoin itself has stepped forward, retaining the vision and basic technological principles. Projects were trying to achieve something new, but no one undertakes to separate these two concepts. Everyone always says to distinguish and share, but all the projects are attached to the fact that the blockchain must go together with some kind of currency. Each new technology settles down gaining supporters, developers, and customers. Any traditional business introduces advanced development. In this case the blockchain is not an exception. Nobody needs it where there are no relational databases, where there are classic SWIFT, VISA, MasterCard. Not all companies have their own websites, and if they do have them, it’s unknown if some kind of work is done with customers and the community there. The blockchain is not an exception. Appearing as an example of a commodity exchange system, over the past couple of years it has acquired many variations. But the market does not need these solutions, most of the projects disappeared after the crowd sale. First of all, blockchain is a technology, not currency. And if we are talking about technology, then the question of the rationality of implementation is important. Blockchain is needed not everywhere and it is not for everyone. People should accept it. Sick fanaticism led to the fact that the community is uncompromisingly divided into supporters and opponents. This is a direct phenomenon. If you take any other technology - it exists, it is used by everyone who needs it. And with the blockchain, it's a whole other story. And all we should do is see it as a data storage method that is relevant ... In some cases. Everybody has noticed a new crypto depression. This year only, Bitcoin was buried 90 times. This trend spawned a psychological bubble that the price of cryptocurrency is the price of technology. If bitcoin crashed than blockchain is a scam. If bitcoin took off than blockchain is useful. But what is the reason for that? Despite the failing of every second major project, people still do them. And why should they care about the price of the currency on the stock exchange? In fact, they should not. In general, I think it is important to have independent projects that are created for the sake of technology, so that there is development where there is complete stagnation.

Disappointment of the year

Now I want to talk a little about the media. News portals want a lot of money for the publication of an article about the project, if you know prices from the classical sector. Now is it worth it at all to look at the crypto media market if it demands such huge amount of money than comparable news portals from business and fintech environments?

Instead of the conclusion

Blockchain is more alive than dead. But the sickly atmosphere that surrounds it is a big problem. I hope that the new year will bring the awareness to people that they need to pursue a really useful application of technology in those areas where it is necessary.