For more than 10 years, I studied different types of technologies. There are so many amazing things happening at this time that the statement, "there is no better time to be alive than now" rings true.
Part of the issue I have is being patient enough to allow things to unfold. It is very easy to get caught up in all the wonderful things we are going to see. Personally, I cannot wait for the day of autonomous vehicles so that not only do I not have to drive, the other meatheads on the road also won't be driving. Personal 3D printing is another technology that I am ultra-excited about. That is really going to change the way people live.
Taking this approach means that I am rarely looking at things in 2018. My life tends to be spent somewhere between 2023 and 2025. This past weekend, in fact, I was charting some technologies to see where life would be around 2030. Many of these exercises are just for fun, others have a useful value.
One thing I am convinced is that blockchain is going to be a major force. We are going to see an explosion over the next 5 years. This industry is just getting started. We see so many different projects undertaken, both by individuals and by corporations.
Nothing ignites my optimism as much as STEEM. I might be the most bullish person on this site about the future of STEEM. This blockchain, based upon the development we already witnessed, is incredible. People take exception when I state this can be a top 5 blockchain. With what is already forming, I can see that possibility.
Of course, the fact that we are so early in the game makes it painfully slow. There is a lot of experimentation that is taking place. This causes us to get excited yet often find the results do not match what we were expecting.
It is imperative that we understand the technological failure rate and how important that it. Success, especially in the tech world, is rarely a straight line. There are always issues that need attention. Bugs are a fact of life in the programming arena. This is true no matter what one is coding. I believe this only gets more difficult when people are working in fields that are entirely new.
Venture capitalists in Silicon Valley aim for a 10% hit rate. That means they lose money on 90% of the projects they invest in. This shows how high the failure rate is. There are many legitimate reasons why projects do not work out. Under these circumstances, rarely is a scam one of them. When creating something new, there are many headwinds to contend with.
The reason I bring this up is to drive home the point that we all need to be patient with STEEM. We know there are a lot of things promised by the development team. It is frustrating to see things advancing at a snail's pace. Being a non-geek, seeing an update about improving the loading of a particular piece of software does not excite me. In fact, most of the time, I do not know, nor care, what they are talking about...until it stops working that is, then I care.
I am in full support of the focus upon scaling at this time. The main lesson from Ethereum is to not get popular unless you can handle all the transactions. The fact that some of the developers are looking to have a blockchain that can handle 100M users is very encouraging.
Sadly, some days are like watching grass grow or paint dry. It often feels like nothing is happening. The world of development cannot be rushed. They take one step forward, two steps back.
Ultimately, I feel our patience will be richly rewarded. Smart Media Tokens are going to be incredible. STEEM is presently under the radar. Yet, we need to remember that a lot of work went into getting us to this point. A number of paths were pursued that turned out to create results other than were sought. This necessitated changing course a bit. We are seeing that again with the introduction of the Oracles to the Smart Media Token technology.
I always like to go back to the basics to keep things in perspective. Blockchain is taking off because of the incentive to build commons. The Internet was founded upon commons created by the government. TCP/IP is probably the most famous. From there, others such as SMTP and HTTP(S) were added. Commons are so ubiquitous that we do not even know they are there. We take them for granted.
We know with the Internet, from the commons sprang the platforms that moved from social value to company value. This created a problem since, even though linked, we now understand how the social value can be cast aside. Facebook is a living example of this today.
Blockchain solves this problem since we are erecting more commons. The incentive to those creating the blockchains and the applications upon it is the tokenization of the process. This is where people stand to profit. This provides a much greater chance that the social value of the platform created will remain. Since nobody owns the blockchain, the community is that decides what takes place. This is a radical shift.
Like they say, Rome was not built in a day. It is going to take time for everything to unfold as we believe they will. There are going to be bumps in the road with unexpected outcomes. Some of those will be embraced and beneficial for the community; some will require more attention to alter the path we are on.
Patience and focusing upon the big picture are traits to put into practice. The entire industry has about 3 years of development before it really makes an impact. Expecting everything to arrive in the next 60-90 days is a bit unreasonable and only going to cause frustration.
STEEM is going to be enormous in my opinion and a major player in the blockchain world. Five years from now, there are going to be millions of people on STEEM without even realizing that is where they are. They will be enjoying the applications and doing their thing, helping to push up the value of this blockchain even higher.
And we will look back at this time like it was a blip in history. The Internet was not the society changer in 1993, but it was by 2005. It takes time for things to fully roll out.
Patience grasshopper, Spring is just around the corner.
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