It is wonderful to see what is taking place in the last couple of months. In spite of the bear still being in charge, the sentiment around the world of cryptocurrency appears to be changing. I see this both here on Steem and also around the web.
Personally, I believe many are starting to see greater potential and what this industry can truly do. It is easy to fall prey to market fluctuations while believing that is an indication of what is really taking place.
For the past year, I was beating the drum of "its the development, dummy". At this point, all else is simply noise. The only thing that matters is the development. We are at the point we are in need of a foundation. This process will unfold layer by layer.
I think we are beginning to see enough development where those who are involved in crytpocurrency to some degree are getting insight into what is taking place. The outside world is still woefully unaware of the opportunities presented but those who are partaking see things a lot clearer than a year ago.
We truly are in parallel with the early stages of the Internet. Circa 1992 or 1993, that was a geeks world. Dealing with the Internet was slow, difficult, and, quite frankly, a whole lot was not offered. Perhaps you were doing a bit of interacting on Prodigy. The web browser was still in the future and AOL hadn't even started to stamp out cds.
Many of the same accusations against the Internet are being levied towards blockchain and cryptocurrency.
It is only used for illegal activities.
It is a passing fad.
It will never amount to much.
Nobody is ever going to use that.
For those old enough, do you recall what the first web pages were? Actually that was porn so guess what was second? Information purveyors. Newspapers and magazines set up static web pages. Anyone want to guess what the Internet zapped first? Newspapers and magazines.
It is incredible to think about these entities, long time established companies, embracing and turning to what destroyed them.
Now consider the fact that JPMorgan, Facebook, and Visa are reported to be working on cryptocurrencies. Do you see history repeating itself?
As I look out over the next decade, I see a time of embarking upon a technological explosion. We are ending a 20 year lull in technological advancement. These things tend to go in cycles and technology took a break after the run of the 1980s and 1990s. During that time, we saw the advent of in home gaming, the cell phone, cable television, personal computing, and the Internet.
Over the last 20 years, we saw the converging of mobile, personal computing, and the Internet through the development of the smart phone. This is something that changed society.
Outside of that, things were fairly quiet. That does not mean that a lot did not happen. We saw massive amounts of R&D along with many breakthroughs that will come to fruition over the next decade+.
One of those major innovations took a decade to get to this point. Blockchain and cryptocurrency are just getting started even though a decade passed since the Bitcoin white paper. Things of this nature simply take time.
It is wonderful so many are starting to see the greater potential that exists. This is going to inspire confidence in others going forward. Naysayers tend to have a loud voice. For some reason, the masses listen to what they say. Those who are espousing the positive benefits to things tend to be drowned out.
I was uplifted to see the projections of Joseph Lubin last week. He believes the global economy will see a 10x increase due to technological advancements over the next decade or two with blockchain being involved in most of it.
This is the view I have. It is something that should get the excitement of everyone going.
We still are not to the point of having created the web browser. That is how early things still are. Basic structures that will be a daily part of our Internet life in the future are just being constructed. Without these, we are not going to get very far. However, once they are in place, we will see radical advancement in what is built upon it.
This is how technology works. It is like a million ants going in all different directions but, almost like magic, they come together. Instantly, society is awoken to the fact that there is something here.
The time to awaken is now. There are many way to benefit from being involved in the early stages. There is a tremendous opportunity in front of everyone who wants to take advantage of it. Sadly for them, most allow a few hiccups to completely turn them away.
More certainly is being revealed on a regular basis.
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