July 2019
Intermediate to advanced
352 pages
8h 59m
English
Content preview from Commercializing Blockchain
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Foreword
Once the widespread potential of Blockchain was understood, people began to see their life through the lens of this technology. With Blockchain you can solve this problem, with Blockchain you can solve that…Blockchain as the panacea to all our problems. This was – and I would say that in some cases it is still – the attitude of innovators and early adaptors when asked what they think about Blockchain. This euphoria was reflected in the price of Bitcoin, touching US$20,000 in December 2017, with US$7.4 billion raised by start-ups though token sales in 2017 alone.
Then, someone began to realize that perhaps moving ‘from theory to practice’ in Blockchain still has a long way to go. Indeed, Bitcoin – which was expected by the ‘maximalists’ to supplant VISA or Mastercard – is capable of supporting only around seven transactions per second. Visa's network can handle about 24,000 transactions a second. Hopes are high, but so too are the obstacles. Scalability, limited consumer adoption, regulatory uncertainty, and a lack of standards are just a few of the many challenges that are hindering the mass adoption of digital currencies and Blockchain.1
According to the technology life cycle, we have just exited the Embryonic phase, characterized by hype and overexcitement, and we are now into the era of Ferment, with its technology variations, rivalry and competition, and technical uncertainty in which user preferences are not clear. Indeed, if you asked me how many Blockchains ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.