Blockchain and cryptocurrency is all the rage right now. There is so much going on in the space that we, who follow it closely, are overwhelmed. Each day there is an announcement of a new project (along with a token) that is going to disrupt some industry.
There is a lot to be optimistic about. However, one thing we need to realize is how long it takes the general population to embrace something. There is a tendency in the technology world to overestimate the impact in the short-term (while also under estimating it in the long-term).
I am a believer in the nature of blockchian and how it is going to upend most industries. That said, this is going to be an extended process. While most of us get overwhelmed by all that is taking place in this space, it is crucial to remember we are part of the .01%. Most of the world has absolutely no clue what is going on with blockchain and cryptocurrency. To them, Bitcoin is as far as they go. Few have even conducted one transaction using cryptocurrency nor do they have a wallet. It is going to take a number of years before the masses adopt this to any degree.
There is one long-term trend that is in full swing and not likely to slow. It is something that really took the world by storm a little more than a decade ago yet is easy to overlook. Perhaps the reason for it is that it is such a normal part of our lives today.
We are starting to see the emergence of Internet (or web) 3.0. It was Web 2.0 that really changed how society operated. Before that, the Internet was just a static form of information. The evolution turned it into a communication medium which breathed life into it.
At the core of this was social media. It was here that the world started to create an enormous amount of data while altering how we interacted in both our personal and business lives.
And this is what we should still be focusing upon.
The fact is that social media has, at a minimum, of another 10 year run. This space is not going away any time soon. This puts STEEM in the ideal position since most of the applications on here have the social media idea at the core. In fact, the content/reward system is centered around the foundation of social media: commenting and upvoting content that is posted.
One of the biggest problems with blockchain (crypto) at this moment is that there are so many projects that are nothing more than ideas. Perhaps they will develop into something but, so far, there is nothing to them.
STEEM is completely different. This is a disruptive force since it is in a realm that is only growing. Over the next 7-8 years, there will be another 3B people joining the online world. These people are all candidates to engage in social media. And why wouldn't they? If it is something that the West and other online participants enjoy, why wouldn't the newer entrants want to partake also?
Sometimes we get too advanced for our own good. While I love projects that have the potential to upend present industries, the bottom line is they are only potential. And, sadly, most will fail. STEEM is already on the path to success. We have over 1M accounts with tens of thousands of active participants. Applications are being built on a regular basis that will only expand the reach of this ecosystem.
The key is patience. We are all guilty of wanting it all now. The easy crypto money turns us into short term thinkers. While making a boatload of money can be a good thing, it is not a legacy. We are all part of something much bigger.
STEEM is transforming. If I had to guess, I would say that 90% of all internet users engage in some form of social media. This provides this blockchain with tremendous potential. Yes, at the moment, most of it is potential but with the applications we already see appearing, the odds are certainly in our favor.
My optimism about what is taking place here keeps growing. In spite of the technical snafu yesterday, the future of STEEM is very bright. We are a blockchain with many social media applications in a social media world.
I think we can leverage this for a healthy ecosystem.
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