Continuing my walk through tech history that I began with yesterday’s post, I’d like to point to the similarities in business methods between blockchain and the PC revolution and the birth of the Internet. The players may have changed, but the basic business issues are pretty much identical.
After PC’s began to gain a foothold in the world, new companies were started overnight. Software developers, floppy drive makers, video card manufacturers, every component imaginable suddenly had dozens if not hundreds of new startups jockeying for market share. Most of these neophyte ventures crashed and burned, their names and their products quickly forgotten.
Others, like venerable IBM, totally misread the market place and tried to bring their tried and true corporate campaigns to the personal home and small business market. That didn’t go very well either, and IBM’s foray into the PC world suffered a quick and somewhat painful (for the IBM reputation) death.
Out of this chaos, a few leaders emerged, some of who exist to this day – Apple, Microsoft, Adobe, to name just a few. Many others had a brief moment in the sun and then burned out or were sold off. Anyone remember PFS? Compaq? Atari? Over the years, thousands of startups flared briefly before their ultimate demise.
Fast forward to the Internet. With the introduction of the net, it was even easier for startups to enter the marketplace. The Internet followed the same path as the PC Revolution. A few big guns staked out territory and thousands of startups appeared almost overnight. Today, a few of those upstarts rule the roost – Amazon, Facebook, Google – are used by millions everyday, and the established companies like AOL followed the footsteps of IBM in misreading and not adapting to the marketplace. The infamous “dot com bubble” shuttered the doors of most startups from that era.
Today we have the blockchain, following the exact same path as the two tech upheavals that preceded it. Again we have hundreds or even thousands of upstart groups vying for position and users on the various blockchains. Again, we have a few “big guns” eyeing the space and dipping their toes into the waters. Amazon, Facebook and others have begun to set up their own properties, announcing the creation of new blockchains and new initiatives.
We are undergoing our own version of the “dot com bubble” with the “crypto winter” and many (most) startups will not survive. We still don’t have a clear picture of who will emerge as the next Apple or eBay or Google, but they are out there, already planning and implementing products and services that take advantage of the blockchain infrastructure to change the world.
We don’t know – yet – which of the big guns will follow in the footsteps of IBM and AOL and toss in the towel. But history DOES repeat itself, and some of the startups will not only survive but thrive. Some of the mega corps will close their eyes to the future and try to handgun to an ever dwindling supply of eyeballs.
No matter what, blockchain tech is here to stay. It IS the next phase in our tech evolution. It WILL reach widespread adoption, just like it’s brethren before it. And I am incredibly thankful to be a part of these exciting times!
Next up, we’ll take a look at what blockchain and crypto need to do to evolve and where they both stand on the evolution scale of business success.
What does YOUR crystal ball tell you about the future of the blockchain? Leave your comments below!
Source: https://steemit.com/blockchain/@mobymom/the-historical-path-to-blockchain-adoption