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There are many parallels to what is taking place with blockchain and the early days of Internet/computing. We are watching history repeat itself.
Linux is an amazing story of growth. Starting in 1991 as a single Kernel, it has grown into a multi-billion dollar industry. In fact, Microsoft recently paid $34B for Red Hat, one of the largest Linux providers.
https://www.cbsnews.com/news/ibm-buys-red-hat-in-34-billion-deal-adding-linux-distributor/
The software is completely open source. There are now tens of millions of lines of code developed by programmers over all these years.
Today, starting as a desktop system, Linux is in Netbooks, gaming, embedded devices, smart phones, and most of the web servers.
While 30 years is a long time, it does show how far and wide the open source architecture can go. In spite of larger, better financed entities, Linux continued to grow over time. The fact that mega technology companies like Microsoft are dumping tens of billions into companies built upon this platform shows how power this type of system is.
Fortunately for all of us, Blockchain is following the same model.
Permissionless blockchains are open source with the ability to impact the world similar to how Linux did. We have the ability to go from a single block to the foundation for the entire global economy.
Linux teaches us that patience is required. It did not go from a single kernel to hundred of billion dollars in a blink of an eye. Instead, over the decades, things morphed, expanded, and grew. Millions of lines of code had to be laid down before Microsoft came onto the scene.
I see a lot of people getting antsy about what is taking place on Steem and with blockchain in general. We are seeing some remarkable progress even though most do not see it. Each week there are new developments that are rapidly changing how networks are being designed.
The enterprise world is even embracing blockchain. Granted, they are not open source and those type of companies will do all they can to maintain control. In the end, like Microsoft, they will succumb. Banks, insurance companies, and supply chains are all going to be disrupted.
Ultimately, this is still the geek's game. We are seeing them banging away at code, updating what was previously hung on here. At the same time, we are witnessing new applications showing up on a weekly basis. This is what is going to bring this technology to the forefront.
Our world is moving further into the digital realm. Many of the anticipated technologies over the next 5 years are going to be tied to blockchain. VR/AR, IoT, autonomous vehicles, and 3D printing all are going to be complimented by blockchain.
Also, since blockchain is, at its core, simply a digital ledger that performs accounting tasks, it is the foundation of the entire global economy. Instead, of double entry bookkeeping, the world is going to convert to triple-entry bookkeeping. By the way, this will obliterate what is left of the accounting field.
Our home on Steem keeps expanding. We are seeing many wonderful breakthrough with exchanges like Steem-Engine and FreedomEx. Both of these are providing the ability to swap tokens for other. Taking it one step further, @freedomex announced the ability to buy STEEM using fiat through their partnering with Netcoins.
https://steempeak.com/freedomex/@freedomex/ann-fiat-gateway-is-live-freedomex-delivers
It is easy to overlook this but having a fiat gateway is crucial. Many complain about the token price yet it is only logical when it is rather difficult to get the token with fiat. This process was made easier with this move.
None of this is a sprint. It is a marathon in the development of Web 3.0. Each development is another brick in the foundation to build upon. Ideas are being spread and experimented with. Many will not work and will lead to failure. However, there will be some breakthroughs which make a startling difference.
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Exponential growth are very common in technology. Things start off slowly, often looking like we are spinning our wheels. However, there comes a day when everyone is taken by surprise. This includes people within the industry.
Amazon is a prime example. It took more than a decade for it to become a major player before everyone realized it was creating a retail apocalypse.
I have a feeling blockchain will be the same way. A lot happens behind the scenes out of the eyes of the average person. There does come a day when things enter the consciousness and they are made aware of what took place.
The lessons are all around us. All of them tell the same story. Patience is required while we are on the flat section of the curve. While things look like they are not heading anywhere, they truly are. And each day, we get closer to the elbow of the curve.
For those of us who are around in three decades, we will look back upon this and realize how we were heading to the turning point. The path before us is pretty clear.
It only requires continued daily effort on the part of all of us.
If you found this article informative, please give an upvote and resteem.
It is almost impossible to see fads before they slap you in the face.
It is almost impossible to see trends, because there are often a few ways they could go.
But disrupting technology is easy to see... well, if you are an engineer.
Things like, when nano-tubes go from a theory to we can make yards of the stuff, then it is just a matter of time before they are used to make sci-fi strength items.
The same thing with block chain.
We didn't have a solution to the Byzantine Generals problem, now we do.
And with just that, we have a way of solving many, many problems we have had in computing.
The only thing that will stop the changes coming is to be sent back to the stone age.
Open Source or “Peer to Peer Production” is more efficient than either the free market or the firm for online content creation of all types. With the introduction of financial incentives via crypto currency and secure, common property, decentralized back-ends via public blockchains, this new form of production is being turbo charged and will take over most fields where human creativity is the main economic input.
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I agree about a turbo-charge. We are going to see a huge amount of innovation thanks to the precise systems you mentioned.
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Now ask yourself why history repeats..
Cuz some kinda authority elite is playing the same fucking dumb game with us since hundreds of years.
Tell me a bad thing about open source.
And then tell me why open source is not a standard.
Would be a better standard than "democracy".
But we have Copyright and aint allowed to evolve.
If the people had copyright while exploring fire in the stone age, only an elite would now be allowed to use lighters and make fire..
Very true. We do see that and it makes no sense other than to keep the control in the hands of the few. This is changing and blockchain is one of the technologies that is helping that.
Cheers!!! @taskmaster4450 to continuous daily strides. Here we are making our mark. The rollout to web 3.0 could be sped up by big players adding to marketing efforts but i guess that's a little like shooting yourself in the foot isn't it? Slow and steady, i guess it will be!! I am totally going to hop on freedomex to buy some Steem. Do you know if there is also a way to go Steem to fiat with the service? Awesome article! Have a great day 🌅😺🍻
I posted about Linux the other day and someone was saying that the open source crowd or geeks would not be interested in Steem as it is too much of a business (like Microsoft). That seems to miss the point that Steem is open source and that Steemit Inc have made it so they do not have total control, although their Steem holdings give them great potential influence.
I think Steem is an ideal place for open source projects as they can earn much-needed funds to cover their costs without relying on donations. I would happily upvote posts about the apps I use.
The question is, how do we bring the open source world to Steem?
This is what I've been saying. If you're developing open source software and you're not using Utopian, you should definitely look into it.
Great article! Just to clarify, it was IBM that is purchasing Red Hat, not Microsoft. Thanks for sharing your thoughts!
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How would the world be without LINUX?
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I don't know if I'll still be here (in this body) in three decades, who knows? ;)
Great article!
However I don't think a change of technology is enough for the world to evolve to higher consciousness!
I think that to change the world, the conscience of so many people must reawaken: it seems that the critical mass necessary for an evolutionary leap, is still quite distant.
What do you think about it?
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