Blockchain technology, in good French, blockchain technology, is it overrated or is its use still too little known? And what about the business world, will the blockchain finally reveal its practicality? Here’s what you need to know as a fan of this new technology.
Blockchain, fad or revolution?
With the recent collapse of FTX and despite the Testify made by its new CEO John J Gray III – the first since taking office at the helm of the exchange platform – after which the latter, now famous for its flash bankruptcy, could resume service, The vast majority of investors are concerned about future developments in the world of crypto assets.
While some of these investors blame the technology that underpins the ecosystem, it’s important to remember It is men who are corruptible, not the blockchain ; it remains a tool in our hands, and just as a hammer can be used to drive a nail into a board, it can just as easily be used to hurt someone with a sledgehammer, so the chain technology of blocks can forever or be used Bad; the responsibility lies with us.
This technology based on the principle of distributed ledger (shown by the image below) which is the cornerstone of any decentralized system just as disturbing today as it was when it first appearedin 2009 when Satoshi gave birth to Nakamoto Bitcoin. Unfortunately, meltdowns like the one experienced by FTX support the argument that blockchain is more of a fad than a true revolution.
When this new technology made it possible to imagine money, its exchange and its unfolding in new ways, many did Information technology company who started thinking that they could use it to modernize their economic model as well as their respective activities.
But also other areas like that of global supply chainsthat are not yet working optimally hardly use this new technology, although it could solve several problems.
A decade later Blockchain adoption in the corporate world is lagging behindat best, and still cannot assert itself in the large global corporations.
But it’s a technology that’s still in its infancy. Visionaries dream of its massive acceptance and the full exploitation of its potential, this creates fashion effects, because the dream cannot be realized for long. That’s the problem with new technologies, the fads they create obscure their true potential.
Do you remember the cloud?
When the technology of “Cloud Computing”, i.e. Cloud Computing, came up, it was still young. The developers struggled to work on what is being called SaaS (Software as a Service) – or Software as a Service – and managed to offer consumers the option to buy “service” software – precisely their user license – which saved them having to install the software on each of their computers.
Twenty years later, grown up without fanfare, Today, cloud computing enables billions of data exchanges every day.
Nowadays, the use of cloud computing, popularly known as “cloud”, seems normal and even essential. But if you go back to your youth twenty years ago, you’ll find that the same fads were at work and sparked the same debates that blockchain is sparking now. Go even further back in time, say 50 years ago, and you will find it many people who will tell you that computers are just a fad which will soon pass.
In short, these fads, no matter how detrimental they may be to the public image of a new technology, right? Part of the general adoption process that the latter inevitably pass before they reach maturity and become so ubiquitous that we forget how we did it Before ?
facts
Blockchain accompanies the increasing movement of digital information to different places. That is why our societies need this technology; because it protects, secures the process of “moving” digital information from one “place” to another, in a physical space invisible to us. When a bitcoin is transferred, the register acknowledging this transfer never changes and can never change.
On the other hand, what may change is the state of cybersecurity that has been put in place around this transfer process. Since software is a human creation, mistake will certainly arise when used. Our societies are confronted with it almost every day. So, yes, there will be bugs; That’s fact.
Another key point is that blockchain technology should work in tandem with other technologies that aren’t associated with fads – a good example of this is securing cloud computing and software as a service, which allows Wi-Fi to increase use, as long as the entire infrastructure underlying the exchange of digital information is secure, error recovery will occur naturally through elimination.
Although some tech enthusiasts see blockchain as just a passing fad, what does it mean and What are companies doing with it? Technological fads are a cultural phenomenon set in motion by sheep waiting for a shepherd to show them the way.
Everyone knows that the blockchain is that future ; but few people have the will to become pioneers. Unfortunately, when one of these pioneers (like FTX) fails, it tarnishes the image of the technology; The leading companies then withdrew in concern.
However, bankruptcies as spectacular as those of FTX tend to be make serious progresswhat the technology can be live up to its reputation.
Integrate blockchain into companies
For businesses, the blockchain hype focuses on the solutions they can bring to supply chains as the world looks for a better way to manage international shipments.
Walmart and other major retailers, whether online or in-store, clearly need blockchain technology. Global supply chains are not working as well as they could; Therefore, companies need this technology, just as the healthcare industry uses the services of nursing staff to fill the shortage of medical staff. From this point of view, the fad effects of the blockchain can create new pioneers.
Corporate adoption of blockchain technology has been slow, but that’s no surprise. In our modern societies we want everything immediately. But if the digital revolution has taught us anything, it’s that change is gradual and progressive.
The best way to face the use of blockchain is to use it little by little and test its potential in relation to specific goals. Once this potential is realised, it will be easy to see how blockchain can be incorporated into more ambitious applications.
Patience and fads need to coexist better. Because the pioneers of technology, out of impatience, run the risk of falling victim to these fads, which they themselves helped to create. It takes small steps, but big steps – for example, integrating blockchain operations into a single, small part of a global supply chain and then taking the consequences.
The processes and systems required to achieve incremental change do not consider modes.
This article is a free translation from English to French by a opinion piece written by Steve Taplinpublished by Entrepreneur Media Inc.