I just finished writing a post about the possibility of blockchain technology replacing the internet.
Now, I want to look at another view. Maybe the blockchain will not be necessary. Actually, maybe the blockchain will be necessary and valuable to some industries, but maybe some won't need it. When great inventions come around, people tend to get excited and think of ways it might change – um – everything. However, some new technological advances might not be right for all industries. Take for example, virtual reality (a.k.a. VR). It is great for games, education, and real estate, but it might not be necessary for blogging.
At the same time, all these new projects sound great, but it will take a long time for them to get going. Just look at Bitcoin. If it is meant to be peer-to-peer cash, it is not working. If it is meant to be digital gold, then maybe one can argue that it is working.
Other applications which I just praised in my last blog, are not quite up to scale either. For example, D-Tube is not quite working that well yet. Some of the videos lag when you watch them; at the same time, it is sometimes (are often) difficult to load videos onto personal channels. CryptoKitties is having some issues as well. Buying kitties should be easy, but sometimes there are problems on the network.
Now, how about Steemit. Great idea. However, be careful what you post because it is there forever. You can't just delete an old post you don't like; it is on the blockchain. I imagine someday there will be a day when it will be possible to delete posts from the interface so nobody can see them, but once it is on the blockchain, it doesn't leave. Tech savvy people can go access the blocks and see what you wrote from years before if necessary. So, again, before posting something, be careful.
My suggestion to everybody who is interested in this new technology (and those who are investing in various projects) to get a Steemit account, to load videos on D-Tube, to buy some Crypto Kitties, to buy something with Bitcoin, and to... everything that becomes available. This way you can better understand the good and the bad of the blockchain. And if you find a problem, then fixing that problem might be an excellent idea for a new company.
I'm interested in what you all think. Have you found any problems with Steemit, D-Tube, Brave browser, Bitcoin, or any other cryptocurrency using the blockchain? Other than technical problems (e.g. Bitcoin's high transaction fees), is there anything you don't like about the blockchain? Do you think it will be successful or is this all going to end up as a huge waste of time? Which projects are solving some of the problems you have found?
Now, if you will excuse me, I need to proof this blog to make sure it is OK; as long as there is electricity in the world, it will be here forever.