Blockchain is to Repeat the Fate of the Internet?

Much of what happens to blockchain now had already happened before to another promising technology — Internet. Such comparison is even more correct,since both the blockchain and the Internet are about decentralization.
The first thing that immediately comes to mind: blockchain, like the Internet at one time, allowed the pioneers of these technologies to become fabulously rich.

The second is the development speed. By historical standards, the period between modem access and card network covering everything and everyone with 4G networks, an instant passed. The same thing with blockchain technology, which is evolving with amazing speed.

The third is innovation. That the Internet in the early 90s, as well as blockchain now is perceived technology from a parallel universe. But it took some 30 years and the Internet today does not surprise even a 70-year-old grandmother. It is possible that something similar will happen with the blockchain too.
Fourth — a fraud paradise. Historically, the first interest in any promising technology is shown by fraudsters. This interest is extremely applied and comes down to exploring the possibilities of easy money from the population. The Internet 30 years ago gave such businessmen the widest field of activity. Unfortunately, things are not much better with the blockchain today.

The fifth is volatility. In the first years of the existence of the Internet, numerous bubbles inflated and burst in it at the speed of light. Accustomed to thinking in completely different categories, economists and investors did not even have a clue how to evaluate the capitalization of IT companies, they believed just trusted a word and broke through. All the same, adjusted for time and definitions, can be said about today’s ICO boom.

The sixth is uncertainty. Few people in the 90s could at least with some confidence say which way the development of the Internet will go and what it will ultimately turn into. All the same is 100 percent true for the blockchain.
The seventh is the lack of legal status. At the time of the Internet creation, no activity connected with it was clearly described in the Legislation. But it didn’t take a long, and the situation has changed beyond recognition. The theory caught up with the practice. There is a feeling that the same will happen with the legal status of the blockchain.
Eighth — weekend wariors. At the end of the last millennium, the overwhelming majority of those who argued hotly and much about the Internet, carried frank nonsense for the simple reason that even generally did not understand the essence of the technologies they are talking about. The same about blockchain. Sometimes it makes one sick to hear the nonsense, coming out from some cryptobloggers.

Ninth — fashion. Everything is very simple here: 30 years ago, having access to the Internet was rather tribute to fashion than necessity, exactly the same as having a bitcoin in an e- wallet today.

Tenth — criticism. I still do not understand how the Internet has survived under a hail of critical arrows that hit it from the moment it appeared. And after all, there were so many scenarios for the death of the world wide web! But none of them came true. On the contrary, the best minds of the planet, the highest paid programmers and developers are now busy in IT. Here are trillions of dollars spinning.

Blockchain is also to blame for complete failure and futility, but something tells that it will pass this survivor test no less brilliantly than the Internet did.