Excitement turned to hype, and now, this great vision for the future seems to have fewer cheerleaders.<\/p>\n
As Axios reports<\/span><\/a>, the blockchain buzz has largely turned out to be well, buzz.<\/p>\n So, post-crypto fever dream, what\u2019s next for the chain? Here\u2019s what experts are saying.<\/p>\n Blockchain expert and co-author of the book, “The Blockchain Revolution: How The Technology Behind Bitcoin is Changing Money,” Don Tapscott says the community is still in early days. Tapscott believes that the technology can change our world down the road, but we\u2019re not quite there yet.<\/p>\n Eventually, with greater understanding of how the technology works and clear-cut regulations governing its use, we may see a shift. But for now, not enough people actually \u201cget\u201d how it works or how to regulate the technology.<\/p>\n This piece in the Harvard Business Review <\/span><\/a>brings up a similar sentiment \u2014 stating that in order for blockchain to change the world, the world needs to change first.<\/p>\n However, as it stands, we don\u2019t have the framework to support the infrastructure needed to bring the decentralized platform into the mainstream.<\/p>\n Blockchain is an expensive, complex project that must be carried out on a global scale. As it stands, the companies leading the blockchain charge are facing something of an energy crisis<\/a>.<\/p>\n So, it\u2019s no surprise that some changes need to take place before it becomes a reality for regular folks.<\/p>\n Is blockchain the new freelancing middleman?<\/p>\r\n Read Now \u25ba<\/a>\r\n <\/div>\r\n <\/div>\r\n <\/a>\r\n <\/div>\r\n<\/div>\n Controversial Bitcoin developer Jimmy Song says we\u2019ve been holding up blockchain as this beacon of hope. And wrongly so.<\/p>\n Song\u2019s beef with blockchain stems from the idea that the technology has been touted as the answer to all of our technological problems, where in many cases, those problems may well be better addressed with a different approach.<\/p>\n Martha Bennett, an analyst at Forrester, echoes a similar sentiment. Bennett says there\u2019s a real risk that we\u2019ll experience a \u201cblockchain winter<\/span><\/a>,\u201d in the absence of \u201cmiracles\u201d and tech-related investments will start to dry up.<\/p>\n And, yeah. We get it.<\/p>\n Some of blockchain\u2019s most vocal proponents have thrown around claims that the technology can fix everything from inequality to inefficiencies.<\/p>\n According to Marie Wieck, general manager for blockchain at IBM, blockchain is as \u201ctransformative\u201d as the internet was for communication. And while IBM has been one of the loudest voices pushing this message of change, they’ve put the technology to work in a number of practical applications. However, IBM actually is leveraging the technology<\/span><\/a> in a way that helps businesses like Maersk and Walmart gain more insights into their supply chains.<\/p>\n The absence of the middleman is the main selling point, as transactions have the potential to be done faster and cheaper than ever.<\/p>\n But when the record-keeper of highly sensitive data and large sums of digital cash is no one<\/strong>, there leaves the question of \u2014 should there be a caretaker? While adding a caretaker kind of defeats the purpose, existing blockchain users sometimes have trouble accessing permissions<\/span><\/a>.<\/p>\n Blockchain technology has only been around for about a decade. As such, there are many vulnerabilities that we don\u2019t yet understand.<\/p>\n Ultimately, the blockchain likely isn\u2019t going away anytime soon. We\u2019ll be interested in seeing how it evolves, and what innovations will have a lasting impact after the novelty coins go away and talk of change begins to shift into something more practical.<\/p>\n For now, it\u2019s safe to say, most of us won\u2019t be using blockchain to its fullest potential for a long time. However, let’s hope that blockchain winter isn’t on the horizon and innovators stay in the game.<\/p>\nWhat is the future of blockchain?<\/h2>\n
![\"blockchain\"](\"https:\/\/articles-img.sftcdn.net\/sft\/articles\/auto-mapping-folder\/sites\/3\/2021\/05\/blockchain_700.jpg\")
<\/p>\nSome say it\u2019s just baby technology \u2014 it\u2019ll grow up<\/b><\/h3>\n
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\r\n <\/div>\r\n We\u2019ve also hinged a lot of hopes and dreams on the blockchain<\/b><\/h3>\n
The idea of “no middleman” can get complicated<\/b><\/h3>\n