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

TheMerkle_Buzzword Blockchain Fatigue

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.

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

Images credit 1,2

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

  • kris_davison

    I totally agree with the blockchain fatigue statement. Its used everywhere and mostly used to describe something that although shares some very superficial similarities with a blockchain usually is not one.
    But I disagree that the blockchain is going to take years to figure out a use case. Bitcoin and crypo currencies in general are using the technology now and it’s not research. The major problem is that the technology actually negates the need for many organisations such as banks, and as pointed out in a recent terrible uk government report (where the writers clearly do not understand the point or mechanics of crypto currencies) government systems. But centrally managed corporate monoliths don’t want that so are trying to subvert the entire discussion by claiming they are working on blockchain technology projects but without bitcoin when in fact they are looking at distributes databases that are centrally controlled. Which are far from new and no more secure than the 1960s technology banks run today.

    • Expanse <3

      Youre explanation was too great.

  • Expanse <3

    I agree with the statement.