It seems clear that both commercial and government entities are hard at work trying to figure out how to make use of the technology in a manner that best suits their purposes.
In the end, the speed with which that adoption manifests is directly linked to the one important factor that they both have in common: the end user.
Commercial forces are interested in developing efficient and attractive monetization platforms. Governments are interested in maintaining economic control and taxation models that work.
Both interested parties are in a race to build their respective infrastructures BEFORE mass adoption by the people at large. At that time, you'll see the shift you're looking for.
So when will mass adoption occur? It will happen when blockchain solutions are capable of providing users with the same functionalities, conveniences, turnaround, and benefits as that of centralized solutions. After all, the average person on the street doesn't care about controlling their funds to the same degree as crypto-enthusiasts.
Are you kidding me? To most, the idea of being responsible for the security of their own funds is inconvenient at best and a nightmare at worst. The average person is MORE than happy to give up a few bucks to shell that responsibility on to someone else.
The same goes for any application of blockchain technology. Seeds, private keys, transaction fees, block confirmations, and all the rest. It's not user-friendly, and it's not fun to figure out.
Essentially, it's a UX/UI puzzle.
As a design professional myself, I can tell you that once innovative UX solutions start to knock down the blockchain barriers of confusion and complexity, the momentum towards widespread adoption will increase exponentially.
Commercial and government players will have no choice but to show their cards and deal themselves in.
I think, Blockchain has already started seeing wide adoption in commercial and government sectors. I just posted a hunt yesterday about IBM launching its Blockchain World Wire, which will make International remittance a lot easy , unlike the conventional system now which takes days to settle such payments.
Ripple already has set the fire by working with many financial industries to run International payments on its network.
You can also see this [post](https://steemit.com/blockchain/@sanmi/f3caa6wgx) which I published sometimes back. It has lots of use cases listed on how blockchain can be used for various applications.
So as time progresses, blockchain as a technology is going to be recognized to have brilliant prospects to solve many real life problems in Commercial as well as Government sector.
Blockchain technology is not yet fully ripe for mass adoption but is a few steps away from becoming a widely used network. In short, we will describe a few challenges that are currently latent:
Massive recognition that blockchain can be a source of immutable certainty
The legal operation of this characteristic is still missing, therefore it cannot be used as a legal argument. New legal schemes are required for the recognition of blockchain as a source of immutable veracity since it is tamper-proof and for this it will be necessary to reach a consensus for regulation in collaboration with the users.
The dilemma of the right to oblivion
The immutability of the blockchain conflicts with the right to forget, which refers to the protection of personal data that ensures that any citizen has the right to have information stored in records or databases completely deleted.
Although it could be automatically encrypted with a smart contract or create blockchain of permissions to access information more flexibly.
The technology (bitcoin) is not yet ready for mass use.
A clear example of this is that it is distributed in a non-uniform way, and even if it were the speed of the system would not support all users. In short, there are a number of technical and security issues that need to be resolved in order for it to work on a large scale. Fortunately, there are many Altcoins that have already solved this problem.
The energy consumed is not sustainable
Many blockchain work with PoW and that consumes a lot of energy, which does not allow it to be sustainable on a large scale as it is today (The same problem of BigData). But they are already working on solutions of much lower consumption such as virtual mines PoS or consensus test, voting etc, etc..
The struggle against parts of the government
There is no clear and fair regulatory framework, no well-defined debate, no legal scalability strategy, etc. But we are sure that the government does not like this technology because it is a point in which there is no control, as we have seen with Venezuela and China.
Yes.
It seems clear that both commercial and government entities are hard at work trying to figure out how to make use of the technology in a manner that best suits their purposes.
In the end, the speed with which that adoption manifests is directly linked to the one important factor that they both have in common: the end user.
Commercial forces are interested in developing efficient and attractive monetization platforms. Governments are interested in maintaining economic control and taxation models that work.
Both interested parties are in a race to build their respective infrastructures BEFORE mass adoption by the people at large. At that time, you'll see the shift you're looking for.
So when will mass adoption occur? It will happen when blockchain solutions are capable of providing users with the same functionalities, conveniences, turnaround, and benefits as that of centralized solutions. After all, the average person on the street doesn't care about controlling their funds to the same degree as crypto-enthusiasts.
Are you kidding me? To most, the idea of being responsible for the security of their own funds is inconvenient at best and a nightmare at worst. The average person is MORE than happy to give up a few bucks to shell that responsibility on to someone else.
The same goes for any application of blockchain technology. Seeds, private keys, transaction fees, block confirmations, and all the rest. It's not user-friendly, and it's not fun to figure out.
Essentially, it's a UX/UI puzzle.
As a design professional myself, I can tell you that once innovative UX solutions start to knock down the blockchain barriers of confusion and complexity, the momentum towards widespread adoption will increase exponentially.
Commercial and government players will have no choice but to show their cards and deal themselves in.
View this answer on Musing.io
I think, Blockchain has already started seeing wide adoption in commercial and government sectors. I just posted a hunt yesterday about IBM launching its Blockchain World Wire, which will make International remittance a lot easy , unlike the conventional system now which takes days to settle such payments.
Ripple already has set the fire by working with many financial industries to run International payments on its network.
You can also see this [post](https://steemit.com/blockchain/@sanmi/f3caa6wgx) which I published sometimes back. It has lots of use cases listed on how blockchain can be used for various applications.
So as time progresses, blockchain as a technology is going to be recognized to have brilliant prospects to solve many real life problems in Commercial as well as Government sector.
View this answer on Musing.io
Blockchain technology is not yet fully ripe for mass adoption but is a few steps away from becoming a widely used network. In short, we will describe a few challenges that are currently latent:
Massive recognition that blockchain can be a source of immutable certainty
The legal operation of this characteristic is still missing, therefore it cannot be used as a legal argument. New legal schemes are required for the recognition of blockchain as a source of immutable veracity since it is tamper-proof and for this it will be necessary to reach a consensus for regulation in collaboration with the users.
The dilemma of the right to oblivion
The immutability of the blockchain conflicts with the right to forget, which refers to the protection of personal data that ensures that any citizen has the right to have information stored in records or databases completely deleted.
Although it could be automatically encrypted with a smart contract or create blockchain of permissions to access information more flexibly.
The technology (bitcoin) is not yet ready for mass use.
A clear example of this is that it is distributed in a non-uniform way, and even if it were the speed of the system would not support all users. In short, there are a number of technical and security issues that need to be resolved in order for it to work on a large scale. Fortunately, there are many Altcoins that have already solved this problem.
The energy consumed is not sustainable
Many blockchain work with PoW and that consumes a lot of energy, which does not allow it to be sustainable on a large scale as it is today (The same problem of BigData). But they are already working on solutions of much lower consumption such as virtual mines PoS or consensus test, voting etc, etc..
The struggle against parts of the government
There is no clear and fair regulatory framework, no well-defined debate, no legal scalability strategy, etc. But we are sure that the government does not like this technology because it is a point in which there is no control, as we have seen with Venezuela and China.
View this answer on Musing.io