Why the Blockchain will shape the future

BitExplorer

Why #Blockchains will shape the #future. We take a closer look behind the #curtain.

 

On October 26th 2018, a small U.K. tech #company called On-Line #PLC decided to change its name. From that day forward, it would be known as On-Line #Blockchain PLC.

That seemingly #insignificant move had a massive and almost #instantaneous impact on the#company. Within 24 hours, the share price rose by 394 %.

Within 48 hours, the value of the company had grown more than it had in all the past two years together!

On-Line PLC didn’t change its #business #model, hire a new executive, or #announce a new #product. It just tacked “blockchain” to its name, and suddenly #investors threw #truckloads of money at it — a #testament to the blockchain’s #hype.

Not much has #changed since then. #Blockchain #technology — the #backbone of #Bitcoin, and much more — is just as hyped as it’s ever been. You’ve probably heard about it on the news, read #headlines about it online, and been lectured about it from that one #guy in your #office who’s super into #cryptocurrencies. It’s like #Beanie #Babies and #Dutch #tulips at this point.

That might lead you to dismiss it as a fad, but don’t let the hype #fool you. #Blockchain has #legitimate #potential to change the #world. As the #Harvard #Business Review puts it, “#Blockchain is not a ‘#disruptive’ technology, which can attack a #traditional #business model with a lower-cost solution and overtake #incumbent firms quickly. Blockchain is a #foundational technology. It has the #potential to create new foundations for our #economic and #social systems.”

BEYOND BITCOIN

Yet it’s still early days for the technology. Many have likened the recent blockchain boom to the dot-com bubble of the 1990s — which is a fair comparison. That bubble did burst, but after the crash, the world wide web eventually rose from the ashes of the 1990s and became one of the most transformative technologies the world has ever known. Blockchain, it seems, has that same potential — it’s just in its the dot-com phase right now.

WE ARE AT THE BEGINNING OF A NEW ERA

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