Why are we not living in the future yet? Looking back on all the promises of yesteryear, you would expect to see the stereotypical things: flying cars, robot maids, floating hotels, and infinity pools. A prosperous future, where the usual inefficiencies of the 21st century are replaced by digital processes.
Blockchain, the “Key to the Future”
Blockchain has been touted as the “key to the future,” but so far the only practical use for digital currencies is for investment purposes. A simple explanation might be that the technology is not there yet. This is a fair assertion, but not an entirely comprehensive one. There are many different blockchain projects ran by masters of cryptography and coding geniuses, but where exactly are these projects going? When will the “tech get there”? Maybe the question we should be asking is not about the technology, but rather, about the implementation.
Let us go through what kind of implementation is needed for a blockchain that can take us into the future: First and foremost, we need a secure blockchain. Cryptography was built to secure information or assets. Without security, no user would trust a system to hold their assets.
The Problem of Efficiency
Second, we need an efficient blockchain. There cannot be a single point of failure. Decentralized applications and other systems must be able to coexist with each other without clogging up resources. Next, we need an accessible blockchain.
This may be the most difficult feature for a blockchain to implement. The cryptocurrency space is extremely young; there is a ubiquitous need for engineering talent willing to explore blockchain. Not every enterprise may be able to hire the engineers necessary to implement an extremely technical blockchain onto their systems. These are only a few features, but they comprise the start of a truly decentralized world.
What is the Vision?
What will turn today’s userless cryptocurrency space into a thriving ecosystem that enriches every aspect of our lives? As technology advances, we need to look towards a simpler concept: vision. The greatest paintbrush in the world is useless without a great painter.
What wins most innovation battles is accessibility; this is why the iPhone owns smartphone market share, why Spotify is the world’s number one music mover, and why instant ramen is within arm’s reach for every broke college student. To be a decentralizer, what we need is a platform to step up and drive adoption.