Blockchain Boom/Adoption

[n0ne]

Same as that we had internet bubble during 1990s, now we've been into the blockchain boom. This can't be stated as a boom, it is the period of blockchain adoption. Almost every sector has integrated their services along with blockchain technology. Most were in the early stage of development, and it isn't easy as the traditional methods of development. Developing a blockchain requires lot things to be considered, and developers find it hard as most weren't used to it.



With blockchain technology into usage every sector serves to function in a much efficient way than the traditional system. Let us take the automotive industry into consideration. When blockchain technology is used, each and everything associated with an automobile can be managed in a better way. In particular the taxation, insurance, loans associated with the automobile, emissions, and more other. Through blockchain technology the car owners too can benefit with paying only for what they've used. Simply road taxes were collected even if the car isn't used for a long. Through blockchain technology in a much effective manner one can pay for what is being used.

What is the opinion on the growth of blockchain technology in the global economy.

[zasad@]

https://twitter.com/danheld/status/1306941348654833664?s=20
danheld(C)

"% of world using the Internet in 1995 = 0.5%
% of world using the Internet in 2020 = 60%

% of world using Bitcoin in 2020 = 0.5%

What do you think the price will be when 60% of the population is using Bitcoin?"

[hd49728]

https://twitter.com/danheld/status/1306941348654833664?s=20
danheld(C)

"% of world using the Internet in 1995 = 0.5%
% of world using the Internet in 2020 = 60%

% of world using Bitcoin in 2020 = 0.5%

What do you think the price will be when 60% of the population is using Bitcoin?"

Next 20 to 40 years. I think the world will see a boom in bitcoin adoption and more people will use Bitcoin but I don't expect it will rise to 60%. 20 o 40 years mean 1 or 2 next generations. The old generations and elderdy or people who have ages in fifties and above are hard to adopt bitcoin. The younger generations will accept it and use it more in their lives. Next 20 or 40 years also help to clear out the old generations from world population pyramid. It is life, younger come, older leave.

Two things are needed: younger generations, more adoption rate from youngsters. Elderyly in (current) generation will account for less proportion in next 2 or 4 decades. Many of them will pass away.

[Questat]

https://twitter.com/danheld/status/1306941348654833664?s=20
danheld(C)

"% of world using the Internet in 1995 = 0.5%
% of world using the Internet in 2020 = 60%

% of world using Bitcoin in 2020 = 0.5%

What do you think the price will be when 60% of the population is using Bitcoin?"

I have no idea about that because I don't we will ever reach that figure, that's too high adoption of a decentralized coin, people would still continue to trust the government and if we are talking of digital money, then maybe there's more adoption in the future but it will be a centralized one.

[boyptc]

The growth of blockchain technology is still more with crypto-related projects than real-world use cases made by companies.

IMHO, it's more getting interesting to know more about bitcoin's adoption than the technology.

[romeojasmin13]

Blockchain isn't the perfect technology. It has some drawback like scalability problem, high energy consumption, high cost and etc. These disadvantages slower the process of the mass adoption.

[davis196]

With blockchain technology into usage every sector serves to function in a much efficient way than the traditional system.

This statement isn't proven yet.Blockchain technology is more secure,independent and transparent,but it still isn't more efficient than the traditional centralized systems.
That doesn't mean that the blockchain technology won't improve it's efficiency in the future.There's room for improvement and further growth and adoption.
You are kinda wrong about road taxes.In my country,you pay road taxes only,if you are actively using your car.

[Wind_FURY]

OP, close to 99% of companies, and institutions that say they will use a "blockchain", don't actually need it. Plus their definition of a "blockchain", would re-define that the quote and re-quoting/nesting of posts in the forum, a "blockchain".