What Is the Most Overrated Word in the Technological Space?

Technology is one of the spaces that has always been progressive with the coinage of new terms. Late 2018 has been exciting for the people closely associated with this space. MediaPost conducted a survey according to which “blockchain”, the buzzword in the crypto space topped the list of the overrated words, leaving “Artificial Intelligence” (AI) and “Programmatic” behind.  

Nevertheless, it’s appalling to have the most talked word topping the list especially when 2018 was termed as the year of the blockchain. Precisely speaking, back during this time last year, almost every company looked forward to including blockchain either in their wish list or in their plan pipeline. This year, the scenario is radically different. Why not know the reason from the blockchain experts?
One reason that has been commonly heard from every blockchain leader is not a cosmic connection of course, but another c-word connection called crypto connection. So, the issue stemmed from cryptocurrency. The more the linkage of blockchain happened with cryptocurrency, the more the trust issues got intense.

A renowned blockchain expert from India demonstrated the underlying principle and potential of blockchain technology, keeping cryptocurrency at bay. He explained, “Blockchain is a distributed ledger that has invented the concept of single-entry data storage instead of the age-old dual-entry.” He further added, “The applications of blockchain technology are yet to be fully explored.” “The spheres in which the blockchain technology has been brought in use already do not completely justify the magnificent potential of the technology.”



It is understood that the crypto scams have robbed people of their hard earned money but the underlying technology is not responsible for this. The blockchain is the technological tool that drives cryptocurrency, the intent of the technology was never wrong nor can go wrong in the future. Therefore, blaming the technology for some malicious people in the space is not fair. The tool can be used to solve some major real-time problems that the world is facing and help in making the world a better place to live in. Well, the story does not end here. If you are looking for short-term gains, blockchain technology is certainly not the tool. Significant changes do take time and blockchain technology is efficient enough to bring about those groundbreaking changes.
Nevertheless, wise will neither consider it as the overrated thing nor the next big thing. He will utilize this pioneering technology to its fullest capacity to build innovations that can bring widespread impact to society.

The survey also asked the tech-savvies what the most important technological word is. The answer that came up was “transparency”. Interestingly, blockchain can bring greater transparency to every industry on this planet.


Comments

Post a Comment

Popular posts from this blog

Why invest in cryptos?

Image
Cryptocurrencies have oft been perceived as being mere instruments of speculation. And rightly so, as without several tangible real-world use cases, there has been a pertinent lack of strong fundamentals driving this emerging market. It could also be argued that the early crypto 2018 rally was owing to the hype surrounding the potential use cases for digital assets. Come 2019, and cryptocurrencies as a form of technology have to prove themselves. Especially how they could potentially help change the approach towards life, industry and commerce for the greater good. Despite a recent surge, the market is still at a fairly low and espouses the potential to garner hundreds of billion dollars in investment. This presents a significant opportunity for investors who want to get into the market. So, why invest? Weathering the storm: It is pragmatic to invest in crypto assets during a bear market, and cryptocurrencies have established their uncanny ability to garner significantly...
Read more

Is cryptocurrency industry of India lagging behind?

Image
Cryptocurrency industry of India had been flourishing until the unexpected decision from the Reserve Bank of India (RBI) emerged. The RBI had directed the banking institutions to terminate transactions with the cryptocurrecy exchanges. This decision came as a shock to the cryptocurrency fraternity of India. The progressive days almost came to a halt for some cryptocurrency exchanges. They had to shut their operations in India. One of the instances that can be cited is Zebpay. It closed down its operations in the nation on September 28, 2018 and moved its base to Malta. In less than 6 months, another prominent cryptocurrency exchange of India, Coindelta closed down its services. In a recent statement, Coindelta founder Shubham Yadav has mentioned that the exchange is not contented with the efforts of reversing the harsh decision of the RBI. He added that it demanded more work which did not happen in the due course of time. Hence, the operations of the exchange had to be called ...
Read more

The Emergence of Blockchain Academies in India

Image
The blockchain is a nascent technology in India. It is very recent that the Government of the nation and the business masterminds have started taking interest in the technology. One of the greatest reasons behind imperception was lack of relevant knowledge. If the blockchain technology is to be adopted widely by the mass of India, then blockchain-based education is a must.  A popular blockchain enthusiast from India stated, “For imparting in-depth knowledge of blockchain to the citizens, it is indispensable to have blockchain academies in India.” Not many people are aware that India houses a few academies that are dedicated to offering courses in blockchain technology. Nevertheless, the establishment of blockchain academies in the nation is a recent advancement. Every Indian blockchain expert firmly believes that the mainstream adoption of the blockchain technology is only possible with the help of more number of blockchain academies in the nation. It is due to the har...
Read more