I’ve been in the blockchain industry since the beginning, and while many elements of the technology have integrated into the mainstream, there’s still an air of mystery around it. People will discuss the blockchain as a platform for future innovations -- but then admit that they’re not quite sure how it works. Cryptocurrency is all over the news, yet a lot of the discussion centers around whether or not ICOs are stable and sound, despite the $5.6 billion raised in 2017.
This clearly shows that blockchain technology is at a crossroads. It’s stable enough as the engine for currency and data-exchange platforms that it no longer needs proof-of-concept examples. What it does need, though, is the so-called killer app to bring the technology to the masses, to simplify it and build a path to usage without inherently needing to understand the intricacies beneath it. With something like this in place, the platform grows and becomes inherently trusted -- and more tested and scaled -- without the constant examination under the hood.
But what is that killer app? What is the tipping point that will transform buzzwords into everyday terminology?