Blockchain technology seems to be the new Sherriff in town, changing all protocols and status quo, making tedious tasks look easy, making transparency its watchword and changing the world order.
But the big Question is, how long can it last?
Among the Greatest
The supporters of the technology have been singing its name in high praises, praising the technology and regarding it as one of the greatest innovation known to man. Most of them are of the opinion that the internet is the greatest single incentive by man and followed swiftly by power generation.
The next big thing according to most of them is the blockchain technology, but truly, they can’t be farther away from the truth. The technology has greatly impacted more on the world than earlier anticipated.
Most industries greatly rely on its transparency feature to create a greater bond between the customer and the company, its security feature is adored and revered by many and its versatility is the toast of most CEO as they can swiftly use a stone to kill two birds without eating too deep into their purse.
Blockchain technology has proven without a doubt that it can be useful for both domestic and industrial purposes and its usefulness is not restricted to a particular industry, as virtually any industry interested in its services will find one feature that will suit its needs and aspiration.
While the food and processing industry needs it to track the historical records of most of its products, in other to avoid spoilage and food poisoning, the manufacturing industry needs it to keep the records of its staff, check their authenticity, check and detect ghost workers and generally used in assuring the staffs of their transparency and accountability.
The Cry for Specialization
As much as the world is in awe of the immense qualities of the blockchain technology, some critics are of the opinion that the technology will fade away with time, and it’s enjoying the attention because of its versatility, which will also be its greatest undoing.
Most of the critics are of the opinion that a concept should be designed to solve a particular problem and not to solve virtually all problems. They continued further by saying that if the food and processing industry discover a particular device that is specifically designed to track the source of food with an improved feature, they will be forced to tag along and drop the blockchain technology.
Consequently, if other industries discover a device or product that is peculiar to their field, with improved features, blockchain technology would become useless because it is not designed to solve a particular problem but a variety of problems.
As much as their observation is noted and appreciated, tomorrow will come with its problem and solution, but blockchain is solving the ones we have today.