[2019-02-15] Trickle Up Innovation; 3rd World is Leading the Crypto Revolution

[S3cco]

Bitcoin Garden: Trickle Up Innovation; The 3rd World is Leading the Crypto Revolution
https://bitcoingarden.org/trickle-up-innovation-the-3rd-world-is-leading-the-crypto-revolution/

Innovation has always had strange way of making its way into the mainstream. It tends to emerge from the highly skilled fringes of society, especially in the tech world, where academics and bedroom engineers hatch ideas and nurture them into being. Early versions of any new tech often have either a high entry barrier or restrictive price tag, severely limiting the pool of early adopters to those with either the know-how or the cash to get involved.

Eventually, word spreads and price points come down, opening the floodgates for mass adoption. The tech usually becomes commonplace in middle class households before finally finding its way to low income users and developing nations.

For the most part this model has held true, from phones to cars to televisions. Take the refrigerator for example. In 1922, one of the first home refrigeration systems cost $714. At the time, you got to pick up a Model-T Ford for $450! This limited buyers to only the most affluent individuals.

Five years later, General Electric’s “Monitor-Top” unit reduced the price tag to $300 and over a million refrigerators were sold. It doesn’t take a rocket scientists to conclude that the lower the entry barriers falls, the more accessible a technology becomes....