Life is constantly evolving. That means so is society. We see it within our cities, states, and nations. Companies follow the same pattern.
Or they die.
Those that fail to adapt become obsolete. Things are consistently in flow, whether it be capital, demographics, or ideas. Stagnation does not seem to be part of the human condition.
Again, that which stagnates eventually dies off.
This is an important concept in such an advanced time with technology. The expansion we are seeing in this realm is mind-blowing. It is something that only seems to gain in power over time.
If that is the case, why do we expect cryptocurrency networks to remain stagnant? What is happening in the rest of the world that can show us what is actually occurring within the digital?
Actually, might it be better to view the digital as the leader for the "real" world?
Going Global
Globalization changes everything. A number of decades back, we saw the impact of this in the manufacturing sector. As jobs were outsourced via access to low wage markets, we saw a major shift in the developed world. Countries such as the US and Britain watched as entire segments of their population were financially carved out. There is little dispute that when something is global in scale, a lot changes.
Cryptocurrency and blockchains are global by nature. They are permissionless meaning anyone from anywhere in the world can participate. This opens up an entirely new process that was not really seen before. How is this going to shape the future of our world in terms of communication, finance, and wealth distribution remains to be seen.
What we do know is major disruption is going to ensue, taking some of the largest companies down.
However, when we hone in closer, we understand that the crypto networks themselves will have to adapt. It is easy to claim that we have a blockchain. The question is what is it capable of doing especially as compared to everything else that is out there. After all, we know what happen to Nokia and Motorola. Sure, they still have phones but they were not comparable to what Apple rolled out.
Since blockchains are global, they all start at the same point. There is no advantage to being spread in that manner since all have some degree of that. Also, if truly permissionless, then any developer can use the network to build upon.
So what distinguishes one from the other? At the moment, it is basically hype. The ones that garner the attention are attracting the numbers. What is important is whether this is always the case?
If other areas of technology are the example, this is not likely. We see the life expectancy of innovation condensing as more disruptors regularly show up. The idea of a company starting today and being around in 100 years is less likely than ever before. There are simply too many other entities which will cause havoc, putting that first entity out of business.
Many Industries Facing Disruption
There are many industries that are about to face disruption. We can see this with EVs. Gaming and social media is about to have a major upending. eSports is gaining in popularity, affecting the entertainment realm which also saw streaming alter a great deal.
The point is we are in an age where taking anything for granted comes with a risk. If we are not looking for potential threats, there is a good chance we get blindsided. After all, Blockbuster and Kodak spent years ignoring the sledgehammer that was about to hit them over the heads.
It seems logical that the successful blockchains in the future are those which will evolve technologically. After all, when it comes to developers, they need more tools at their disposal. When something is not available, they will find where it is and incorporate that.
Here we have a fundamental basis for crypto development which is not discussed a great deal. A lot of the blockchain world, at least what gets the attention, is more of the same. Teams are focusing upon scaling, transactions per second, and fees. While all these are important, are they really what is going to separate themselves from the others? If many scale while offering cheap fees, is there any advantage to that?
The key is to seek something unique. Here is where Hive does offer a few possibilities. Others are starting to add some of the concepts in, so the advantage is not going to be there forever. Of course, innovation does enter at this point. It is no so much where Hive is today but what will it be offering in 5-7 years?
Blockchain networks, due to tokenization, become like economies. Over time, they grow while also having the potential to collapse. The British economy was once the crown jewel of the world. Now, it is the 5th or 6th largest. Other countries passed it.
Evolution and adaptation is vital for the future. Anything that seeks to survive long term needs this. This might always have been the case. However, we are seeing it show up in many other areas.
The world is one where builders excel. Without them, we do get stagnation. And that is simply unnatural.
Crypto networks seems to fall under the same premise. Where is the building taking place and what is being done?
This needs to continue to be our focus.
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