Categories: News

Blockchain Fatigue Starts To Set In Due To Buzzword Approach

Even though there seems to be a lot of positive focus on the future development of blockchain technology for real life use cases, there are still some people who need more convincing. At the same time, there are a lot of media misconceptions regarding the implementation of the blockchain, and creating a research group that is exploring the boundaries of this technology. Are we simply jumping the gun, or are some people suffering from blockchain fatigue?

Also read: The Bitcoin Testament – Where Digital Currency Ends Up When We Die

Blockchain Integration And Research Are Different Things

When people get excited about the future of blockchain technology, the lines between a working concept and researching its possibilities seem to blur rather quickly. It is far from difficult to find a ton of different aspects and areas where blockchain technology can make a huge difference, but that doesn’t mean it will happen anytime soon.This buzzword hype is leading to blockchain fatigue for a lot of people.

Furthermore, there are a lot of blockchain-based efforts taking place right now. However, people tend to forget nearly all of these projects are only researching the potential of the blockchain on everyday life. This does not mean the blockchain will be used for any of these concepts per se, but the option has not been ruled out yet.

There is nothing wrong with getting excited about the news regarding how blockchain technology can change or prevent certain things, but seeing it in action will take many years. In this regard, both media and Bitcoin enthusiasts are jumping the gun, which can lead to frustration for people not active in the digital currency industry.

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This is exactly what happens when blockchain suddenly becomes the new buzzword to indicate anything that has to do with technology, digital currency, and finance in general. This trend can be noted in the technology world as well, where any tablet is an Ipad, or any smartphone is labelled as an iPhone.

Blockchain Fatigue Starts To Set In

Any new form of technology will be greeted with a lot of enthusiasm, and surrounded by a lot of hype. Right now, that hype seems to focus on the blockchain in general, creating a label people use whenever they can to point at something innovative. In fact, one could go as far as saying a lot of people are suffering from blockchain fatigue already.

No one doubts the potential of blockchain technology, but there is no reason to implement a technology people still do not understand. It will take many years before we have a grasp on what the blockchain is capable of, and only then can the integration process begin.Until then, this technology doesn’t need any more hype, or more people will get blockchain fatigued soon.

Source: Finextra

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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