Blockchain Technology Is A ‘Bubble’ Reasoning

Blockchain technology is a ‘bubble’ reasoning

Recently, I have seen documentaries about the birth of the Internet. Before, when everyone was whining that the web was without overvalued reasoning. Eric Schmidt, who was then Cto de Sun Microsystems, took the stage and with pronounced audacity, ‘Actually, I think that the Internet is being undervalued’ … argued that the real internet impact was going to be greater than we all imagined, and youThey recognize, he was right.

It occurred to me that right now there is a similar problem with the block chain. Blockchains is the newest and better technology to promise to alter the world once again. However, when addressing the issue, company executives must be forced to seem rational and wisedisappointment.’

Waiting for social test

I know web experts who need to play safely, and point out how ‘probably’ the block chain is being overvalued;that is not yet prepared for stellar schedule, which is not yet safe, however, it is not yet scalable. They usually fuse the block chain with Bitcoin, and complain that it is a kind of madness. However, think about this: how is this as a speech in 1999? ‘Do not invest in Amazon or Google, is a bubble!’

In the world of commercial financing, where two companies in numerous countries want to buy and sell with each other. They usually use a bank to ensure transaction, and it is a slow and excessive price that has not been modified much in four hundred years. He needs a mountain of papers, and all the parties involved pay a good part of their time demonstrating that they honestly own what they say they possess.

So many great applications

The use of the block chain with intelligent contract capacity can considerably remodel this $ 7 billion trade considerably. For example, in February 2017, a load shipment with a value of $ 25 million African crude slowly made its way to China. The merchants involved sold and resigned the oil three times during the trip.

Banks, agents, inspectors and a basic product trade company were involved. A crazy amount of intermediaries to facilitate and guarantee the legitimacy of trade. The traditional solution referred to many documents, and took a minimum of three hours to finish each transaction. This is just a use of the many that the blockchain can offer.

So, we do not go crazy about it, however, at the same time, let’s be realistic and work to achieve an important mass for blockchain technology. If the blockchain revolution achieves a critical mass, we are seeing a fascinating decade ahead. Let’s have fun and rejoice with that!