Logistic growth (S-shaped curves) and Technology adoption
In biology we see population growth curves that follow a characteristic S shape.
When a new species enters a new environment and that environment is favorable we see an interesting growth phenomenon.
First growth is slow due to the limited number of individuals available for breeding. Once a critical mass is reached then the population growth rate explodes in an exponential fashion until the carrying capacity of the ecosystem is reached and then the population stabilizes at equilibrium.
We observe the same growth phenomena in the technology space.
At first adoption of a new technology is slow, its not well known and typically expensive.
The price gradually comes down as more factories start mass producing the maturing tech.
Then a tipping point is reached where the new tech is now at price that is affordable to the average person and adoption explodes.
Eventually things stabilize when everybody has some of the new tech and capacity is reached.
We have seen this with:
- Steam powered machines
- Cars
- Microwave ovens
- Video
- Cd
- Dvd
- Computers
- Mobile phones
To name but a few.
At the moment internationally we are still in the initial slow growth phase for crypto currencies and blockchain based solutions.
Steemit as a functional blockchain based applications is similarly still in the early adopters phase.
We saw these adoption curves in the social media and blogging spaces.
Web 1.0 was static web pages.(the internet of information)
Web 2.0 started with forums and chat rooms and culminated in the social web we see today.(the social internet)
Web 3.0 is in its infancy
Steemit is so innovative it could likely be considered Web 3.0 (an internet of value)
We still need to see the exponential explosive growth period of mass adoption.
In my eyes the fun times have already started and will only pick up in momentum the coming years. We've seen huge advancements when it comes to the blockchain technology as well as other implementations made possible through cryptocurrencies - i.e. 21's micropayments. Add to that all sorts of neat projects like Steemit gaining momentum. Exciting times, exciting times indeed.
The early phases of S growth curves have little spikes within them, steemit.com is in those smaller spikes... the best is yet to come... and what a roller coaster that will be...
From where I am sitting it looks like STEEM Dollars will be the currency that achieves mass adoption... and that will be absolutely huge.
It's exciting to see Web 3.0 begin to take form. Steemit is a big part of connecting social media to gamification incentives. I believe the next step for Steemit is to tap into a marketplace for the community.
Start the "Pay with Steem" movement right here!
21 seems to me to be riddled with opportunities for enhanced dystopia. I think it is in everyone's best interests that they fail.
can u imagine when we have millions of people here, the good times are just beginning
As usual an excellent post @gavvet and as usual I agree :)
As usual an excellent, easy to understand, even for me!
More like non-stop fun times ahead.. this community is growing by the hours:)
Appreciate the share!
Steemit it's evolution.
This book kinda goes into some of that
wow amazing
Very Good Post!!!
very good post you. I just did a post about how the payout here is so much better than any other platform right now. Please consider upvoting it. I just upvoted you! I just posted steemit's first pool meeting where I talk about my initial thoughts about it. Check it out!
https://steemit.com/steemit/@angelinaalba/why-i-evacuated-every-one-of-my-posts