When will the blockchain rubber meet the adoption road?
Let me start by thanking IMDA and the engaging participants at this month’s Blockchain Discovery Day in Singapore. In a field that is moving at a blistering pace, and a world where everything real-time is the norm, starting a post with reference to an event that took place more than a week ago might seem like one’s late to the party. But that’s exactly the point of this post…
Over the past 2 years, I have been interacting globally with a highly curious and passionate set of people in governments and across industries around the theme of Blockchain adoption. As the founder of Chainstack, I have had the opportunity to gain several insights from these conversations.
- I often find myself among enthusiasts, who believe that Blockchain technology is a panacea, which I don’t think it is, despite its incredible potential.
- I also find myself among skeptics fixated on the overwhelming number of failures in Blockchain experiments and the lack of real use cases.
To me, this early recurring state of yin-and-yang is a healthy sign of a truly revolutionary technology.
After the web, mobile, and cloud cycles, it seemed like the march of truly novel and useful technology had finally come to a pause. But the feeling that now ‘there is nothing new under the sun’ has been replaced by a paradigm that, I believe, will unlock value from myriad nooks and crannies of organizations. These days, it is a delight to exchange ideas with both believers and skeptics, and, equally, ‘wanting to know more’ individuals.
Over the last few months, many new Blockchain platforms were announced. Add to that the multitude of underlying Blockchain protocols, and you’ll find yourself with a sophisticated matrix of choices, allowing every enterprise to address many scenarios you can possibly consider as part of a more decentralized world. At Chainstack, our amazing team is working towards making the complex task of trying out several Blockchain technologies a breeze. Some members of our team are busy building the nuts and bolts of, what we call, an ultimate control panel for enterprise Blockchain. And some others are constantly educating organizations across all strata on how best to navigate the Blockchain maze.
We find ourselves committed to the art and science of making Blockchain accessible. And we expect this journey to be a long and adventurous one, with its pitfalls, nonetheless, but with success eventually. Not all rubber will meet the road of course. But when the proverbial Blockchain rubber does meet the adoption road, whether it’s in an enterprise or at a non-profit, there will be eureka moments. These will open doors to a completely new way of doing business and make possible radical transparency, collaboration, and efficiency. And in the short arc of IT and business history, participating in this is truly exciting.