The technology of blockchain is a revolutionary one and it’s inevitable that it’ll be adopted in the long run. Statistics already show it. In 2015, there were about five million blockchain wallets in existence. Fast forward to 2019, and you already have as much as forty two million wallets. That shows the constant adaption of the blockchain technology ecosystem and how more are beginning to adopt it.
The Mainstream Adoption Of The Blockchain Technology
One way to measure a technology’s success is its acceptability by users, and blockchain technology has shown that it is and will be successful. Many business organizations already change how they carry out their businesses and daily transactions due to this technology. But its adoption on the mainstream level is still stalling. While there are a number of factors responsible for this, we take a look at 8 cryptopreneurs working tirelessly to ensure the mainstream adoption of the blockchain technology.
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He’s the British-American that founded McAfee cybersecurity tools. He’s also a computer programmer with a strong belief that blockchain will be massively adopted the same way the internet was adopted. It’s understandable that he has devoted support for the progress of blockchain technology given his involvement with cybersecurity and the fact that decentralization of data allows blockchain to offer better security solutions.
Nick Szabo is a well-known cryptographer, legal scholar, and computer scientist. He is the developer of the idea of Smart Contracts and also the creator of Bit Gold, which is considered by many to be bitcoin’s precursor to date. Many companies such as Ambrosus, Chronicled and Modum are now enhancing traceability by combining IoT and Smart Contracts. For example, a sensor monitoring food temperature while in transit can document and send the information to the blockchain. This will then instigate a smart contract which will execute the supplier’s payment.
Andreessen is the general partner and a co-founder of Andreessen Horowitz, a reputable venture capital firm. He’s a very strong proponent of the blockchain technology and bitcoin. His belief, just like many others as well, is that the technology can help to bring back the incentives between users and the platforms. He is a major investor in a number of blockchain ventures and has, in fact, developed a venture capital fund that’s based on the industry. He’s also an advisor to organizations and institutions that are willing to put their monies in this blockchain sector.
He’s a leading expert in the STO (Security Token Offering) industry, and the founder of SteinbergInvest, with numerous subsidiaries which includes CPI Technologies, which is the only company that provides white-label security token offering solutions. He’s currently spearheading the Time Square tokenization project worth $700M and may lead to more adoption of securities with tokens.
He works as a programmer and is also the co-founder of the Stellar Development Foundation, a company providing network utility at a low cost. It uses a group of anchors that can be trusted, such as payment processor and banks, and a protocol with unique consensus to facilitate a very cheap financial transaction which is almost instantaneous on the company’s blockchain network. The users are then allowed to send and exchange money cheaply across different countries. It basically permits a cost-effective micropayment.
This American is one of the very first investors and promoters of bitcoin, so much that he has a nickname “Bitcoin Jesus”. This is due to the level of commitment and the kind of support that he puts in for the mainstream adoption of the blockchain technology. He uses his skill and spirit as an entrepreneur to preach blockchain to everybody that cares to listen to him, as well as funding crypto startups. He’s still an investor in projects that builds new applications and crypto protocols.
He’s the co-founder of Bitcoin Magazine and Ethereum. He’s a programmer with dual nationality in Russia and Canada. Ethereum allows developers to build a wide array of DApps (decentralized applications) that can successfully run on the network and not just a computing location that’s centralized. Although it hasn’t been adopted yet on the mainstream, ethereum continues to grow gradually daily. The developers are now working towards resolving challenges with scalability and also future transactions being planned to both proof-of-stake consensus protocol and the shared network.
The founder of Shapeshift, an American-Panamanian and one of the most recognized bitcoin entrepreneur and advocate. He recently commented in an interview with Cointelegraph that specific use case needs to be used to specify the mass adoption of blockchain. And while we haven’t gotten to the stage of mass adoption in these categories, we have passed that stage in a couple of others.
The possibilities in the blockchain technology are countless. This is without doubt, what these cryptopreneurs saw when they started their moves for blockchain’s mainstream adoption. There are still a lot of people who need to know more and increase their knowledge base on the possibilities of blockchain technology. It’s definitely progressing, and we might see a mainstream adoption sooner or later.