From Coindesk, the State of Blockchain Q1 2016 report. How ready is blockchain technology to become the next Internet?
The question for constructal infonomics is to identify the flows of information-energy that characterize blockchains and develop predictive capability to understand and potentially direct the technology development into practical and useful businesses.
“As blockchain hype begins to subside and entrepreneurs and organizations get down to the business of implementation and execution, a new debate has emerged over timing.” Is blockchain ready to take off like the Internet in the early 90s, or is it really back in the 70s or 80s, still developing protocols to make it workable?
I always use the yardstick that from the time you read about a new technology to practical commercialization, it is no less than 8-10 years, maybe more for a really fundamental new paradigm like blockchain.
Like the early Internet, we are seeing investors throwing money at startups in the hope of not missing the next Netscape or Cisco. With poorly defined channels of evolution and more money than knowledge, much of this investment-emergy will be lost, but that is the price for evolving new engines that can harvest the potentially massive flows of commerce that blockchain promises. Equally significant, blockchain can enable whole new classes of business previously undreamed of as being possible.