Friday, July 10, 2020

Blockchain Everything: The Right Thing To Do?

Always, in the history of mankind, the revolution comes before the evolution. And with revolution, comes revolt. This applies to every discipline of human life: socially and technologically. And blockchain does not escape this course of events. The blockchain is indeed a revolutionary technology by itself, with millions of possible applications. But, like all techs at its beginnings, his outreach was misdirected by our worst defects.

Greed. That’s why still today, cryptocurrencies are the prime application of blockchain. Of course, cryptocurrencies have grown to make things better, easing some tasks that in other ways would be impossible: decentralized payments, remittances and such. But, with their inception, they have also originated the exchange market, making them an investment instrument, prone to manipulations.

The truth is that even blockchain has its limits, and we are eyeing it right now. The phenomena of the ICO’s has brought blockchain tech to a new level, making it ubiquitous in every business proposal as an accessory, rather than as a pivotal tool to be used. Sometimes, some of these proposals feel complete without the blockchain component, and it seems they only threw it in there as an afterthought, just to justify the ICO tag.

It seems that we are in the revolt stages of the blockchain tech and that through ICOs and other projects, people are trying to add blockchain to everything just because they can; and projects made with this ideology have an ill future, to say the least. We must strive for developers to build apps with blockchain in mind; not using it only as a tool to lure money into an incomplete concept. And regulation must contribute as a catalyzer to stop this madness until we reach the said evolutionary stage. In the meantime, we can only watch the chaos from above this wonderful tech that will aid us in the near and far future.

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