Measure's CEO Owen Hanks recently wrote for The Blockchain Domain about the state of blockchain in light of current affairs. The site is part of the TMCNet.com (Technology Marketing Corporation), a leading business-to-business and integrated marketing media company, providing content-driven solutions for niche markets within the communications and technology industries. Owen's article, called "Is Blockchain Really a Decade Away? Current Events Tell Us Otherwise" gives some background information and predictions on widespread blockchain adoption.
He wrote this piece in response to some other commentary going around that indicated that blockchain adoption was several years away. Owen maintains that determining the trajectory when it comes to blockchain isn't simple. "The answer ultimately isn’t a binary one. We likely won’t look back in 10 years and see any definitive moment breakthrough on adoption. Instead I predict that we will look back in a decade and take note of all the incremental successes and phases that have led to a number of benefits that can be attributed, at least partially, to the adoption of blockchain over the years."
The reason why some may believe blockchain will not become mainstream anytime soon could be because of a possible lack of understanding about how it works and its benefits. Other technological advances, such as the Internet, have had a clear and daily impact on our lives. Blockchain, however, "will be hidden to most average people, and function in the background."
It is the challenges that blockchain solves that will ultimately propel its use forward. As people seek greater transparency and greater control over their own data when it comes to their online interactions, and blockchain provides a foundation for these "new rules of engagement."
Owen concludes, "Blockchain adoption promises to take much the same path, perhaps with a less visible trajectory. It is not, in fact, a decade away. The transformation is happening right in front of us, right now."