When Will The Blockchain Go Mainstream?
Investing.com – As we approach the end of 2017, it’s safe to proclaim “The Blockchain” as the buzzword of the year.
Countless articles have been written on the new technology poised to revolutionize our world, but the new technology has had little impact to no impact on the common man.
Most Blockchain applications have been limited in scope and adopted as pilots by corporations. Bank of America (NYSE:BAC) is experimenting with the technology, and has filed over 20 Blockchain based patent applications. IBM (NYSE:IBM) has partnered with Blockchain start-up Stellar, and successfully settled financial transactions using a Blockchain based cryptocurrency.
However, as it has been the case for many years with Bitcoin, the general public is not involved or actively taking part in using the newest forms of technology. It needs to transform in order to be made accessible for people with little to no technological or financial background.
This gap will continue to be the main challenge facing Blockchain in general and cryptocurrencies in particular. The Blockchain is often compared to the Internet in terms of disruption potential – and it did take about a decade for the internet to cross a 50% penetration threshold in the US.
2018 will mark the 10 year anniversary of the first distributed blockchain, and if more accessible platforms are created for the general public – it could also be the year the Blockchain finally goes mainstream.
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