Crypto's Path to Widespread Adoption: The Problem with Our Thesis
12 Abril 2019 - 11:56AM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
April 12, 2019 -- ADVFN Crypto NewsWire -- Blockchain adoption
and crypto adoption are two different things, despite the fact that
the two technologies will forever be tied together since one sprung
forth from the other. Numerous cases already exist of businesses
and business organizations adopting the blockchain.
Just think about IBM’s Food Trust
chain, Maersk’s TradeLens, and Nasdaq’s usage of the blockchain for
record-keeping, for starters. Adopting the blockchain doesn’t have
to mean using cryptocurrencies at all. These use cases might still
lead to the development of dedicated cryptocurrencies, though this
is not necessarily a foregone conclusion.
With today’s news that the
International Chamber of Commerce is considering using the
blockchain at scale, it is likely that the crypto markets will be
in some sort of uproar even so. Still, with the description of
their undertaking in mind, the suggested thesis above that using
the blockchain does not necessarily mean using a cryptocurrency
seems likely once again.
The ICC is examining using the
blockchain to help its’ members improve the efficiency of their
supply chains, through enabling truly end-to-end monitoring of
products as well as the recording of immutable data about them.
This, however, is merely the core use case of the
blockchain.
In the beginning of its’ existence,
the blockchain was basically just a digital ledger that facilitated
these types of activities in a faster and more trustable way than
any other existing solution. Then, Satoshi Nakamoto came around and
changed all of that.
Therefore, before we begin rushing
to buy more Bitcoin and other cryptocurrencies every time that a
crypto news source cries widespread adoption, we should validate
exactly what kind of adoption they are referring to.
By: BGN Editorial Staff
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