Why Explaining Bitcoin And Blockchain To Users Is A Waste Of Time
Bitcoin was the dream of cypherpunks everywhere. A completely anonymous platform that allowed the transfer of value between participants without the need for any intermediaries. There are more people who fall in this category than ever before, even though they are not all attracted to Bitcoin. Look at the way banks are increasingly seen as the enemy of the people by more and more of the general population to see that almost everyone is fed up with the status quo.
So why is it taking so long for truly decentralized blockchains to take over the world? Where is the revolution that was promised by tech luminaries who peddled tales of cryptocurrency changing the world overnight?
Crypto Needs To Disappear From Marketing Blockchain
It's right here, in our daily lives and it is not going to move much quicker until quite a few things change. The first thing that needs to change is for cryptocurrency to stop being the face of blockchain. While many who are in the know will understand the nuances of cryptocurrency in its current state, many people simply follow what is being told on the news.
- Bitcoin is nothing according to the best investor ever Warren Buffet.
- Warren Buffet was wrong; this “nothing” is now worth $17000.
- Aha! Buffet was right, Bitcoin crashed and everyone who bought it is poor now!
They could learn – everyone can learn if they are interested enough, but they won't. The vast majority of people want something that just works and cryptocurrency is too volatile for them to use it to its full potential. Tokens on the other hand… that people will be able to grasp much more easily. Give people tokens to pay for in-game items and let them trade those items for more tokens. Allow them to use those tokens to buy things off of eBay and they will love it. No one needs to know it's cryptocurrency.
Blockchain Needs To Stop Being The Focal Point Of Products
No one learns how to engineer a car to drive, but everyone still drives one. Few people know their way around a network or know how to code, yet everyone uses the internet daily without a problem. No one learns about how mobile technology works just to be able to understand their phones better.
Blockchain technology is mainly a back-end thing. It is important for banks to know how it works so they can use it for faster transactions. It is important for manufacturers to understand blockchain so they can improve their supply chain. It is important for investors to understand so they know what they are investing in.
Look at blockchain in terms of modern-day debit cards. They are an instant means of payment for everyone around the world. You swipe your card (or tap it as it were) and both you and the merchant know that your money has been transferred. No one cares about the complex machinery that goes into making that one transaction work and how much companies have had to invest to make paying for small amounts with a debit card a viable option.
It is the same for online services such as venmo and Paypal. There isn't a single person who used their service who thought that they needed an in-depth explanation of how the service worked. All they cared is that it did and it was easy tog et up and running. The problem with many blockchain based services is that there will be too much hand-holding and explaining concepts.
Technology Booms Have Been About Evolution, Not Revolution
Many people today seem to think that technology revolutions happen with a single product or idea when there is nothing further from the truth. While one person may be credited with an idea, there is a large list of people who improve on it to make it cheaper, more viable and eventually get to the point where the original investor becomes famous. Not necessarily rich, but famous nonetheless.
The weaving machine that kick-started the Industrial Revolution was the creation of one man. However, it was not half so fast or effective as the weaving machine just a decade later that had improvements by at least a dozen other inventors. The Industrial Revolution only kicked into gear once all the component parts had been made to work as smoothly and as efficiently as possible.
Bitcoin could be the next generation payment system. It might not. It certainly ushered in a new age of computing and we have been seeing more and more differing blockchain projects that are improving on the basic tenets of what Bitcoin offered. Newer blockchains are faster, cheaper and have a multitude of uses… and most of all – the consumer never needs to know what they are.