Using the internet for a variety of purposes is an integral part of people's lives today. Ironically, in the not-too-distant past, the Internet was dismissed as a fad that wouldn’t last.
For instance, Clifford Stoll, an astrophysicist, published an article in the February 26, 1995 issue of Newsweek with this derisive title: “The Internet? Bah! Why Cyberspace isn’t and Never Will Be Nirvana” It noted that “visionaries see a future of telecommuting workers, interactive libraries, multimedia classrooms…and virtual communities.” “Baloney,” Stoll replied.
The early critics of the internet were proven to be wrong. Similarly, the evidence suggests that today’s critics of blockchain and cryptocurrency technology will likewise be proven wrong. Cryptocurrencies, as an unregulated asset class, have been extremely volatile. However, as this sector matures, the real world use case of some cryptocurrencies will become more evident. In fact, we can connect the current mass adoption of internet technology with the future mass adoption of blockchain and cryptocurrency technology.
The Internet, which began as an unregulated industry, ultimately achieved mass adoption when a variety of businesses discovered that it could help them enhance their operations. I think the same will hold true for blockchain technology and cryptocurrencies. Especially, when regulations are introduced into this currently unregulated space.
