The internet world has witnessed an unmistakable turn-around with the advent of the blockchain technology, so much that insurance companies, government agencies, centralized and corporate institutions, app creators and many other listings are swerving towards underlining its possible usability in their distinctive fields. Who would have thought, at the onset of Satoshi’s revolutionary Bitcoin, that the consensus-oriented proof of transaction built for the then supposedly growing cryptocurrency would grow to become a solution space for both large and small businesses in an unimaginable way? But, in the dawning of each day, we come face to face with another possibility inherent of this technology that helps create a peer-to-peer operational network which weeds out third parties or middlemen who are oftentimes existing in a thin-skinned balloon of frustrating uncertainties and limitations. Currently, great platforms like Microsoft’s Azure platform, Oracle, Amazon etc. are milking the blockchain-as-a-service magic, according to each of their specifics. Web 3.0 — the purveyor of the next-generation internet — in its quest to eliminate third-party souvenirs and disrupt the Internet of Things, are not left out the whole frenzy too. It seems as though we are faced with — to glean from the words of Bill Gates — a technological tour de force.
It’s now paramount to say that the fulcrum of the blockchain technology is reliability and accessibility. In terms of reliability, even though there’s still a growth range that ought to be covered, Blockchain has already created an error-free, verifiably secure and sustainable environment for existing systems, which makes it undeniably reliable. And there’s more revealing in the bag. For example, first-world countries like the US, Brazil and the likes, in virtue of its reliable giving, are finding new ways to bring it into the democratic government. Having said so, the question of reliability isn’t as much of a problem as accessibility in discussing this twenty-first century technology.
Despite the momentary crypto backlash, there’s no denying the fact that blockchain has kept growing popular amongst business owners and consumers. The world now lives in blocks. Regardless of this seemingly astonishing growth, accessibility problems still linger in its sphere, and has proven to be the core problem of the technology: breaching its wide-range reach to the public space and, most importantly, to underprivileged masses who might not be conversant with blockchain and its elementary terminologies, from smart contracts to supply chain networks to non-fungible tokens.
Truth be told: blockchain strives towards simplicity so as to become accessible to the entire public, regardless of educational standard or statuary notation. But it’s still far from being so. In fact, this lack of understanding pushes people away from using the technology. Even though blockchain-as-a-service cancels out the need to create blockchain-based applications from scratch, it’s quite hard to pitch the idea to an investor or provider on what way they can tap from the technology and what way they can foster their operational duties. That’s not to say that there aren’t digital and offline masterclasses, training seminars and programmes available, but there is a limitation to the public’s knowledge about them. Knowledge, which should be a public commodity, is owned by particular industries. Not to talk about the fluctuating cryptocurrency market that leaves investors in doubt of taking the risk.
To avoid this malaise, a user-friendly interface should be in use. Plus, interoperability should be encouraged among blockchain technologies. Different operational systems on different protocols tend to discourage developers from trying out a new platform.
Blockchain, just like every other technology on a revolutionary loop, faces diversity problems, which in turn places a tagline of limitation on how accessible the technology should be. In regards to observational learnings, this makes blockchain technology a kind of capitalist-oriented industry. Because more than half of the whole blockchain industry has been dominated by rich white men who can take any serious decision as far it favours them, even to the detriment of the underprivileged masses. The recent usage of blockchain by IBM, Amazon, Oracle justifies the claim. It’s a grave issue that eating deep into the enterprise.
A better way to combat this issue is to make blockchain products accessible to groups that are partisans of the society. This action will not only impact more people, but also create an in-service education. The same way, Maiden, and other technology education startups, are teaching the public, especially local underrepresented groups, about the magic hands of blockchain. The same way some large-scale businesses are showing organizations how to bite deep into the advantageous possibilities blockchain can afford through their hosted services and platforms. Not that it’s enough, but a start is what might keep the wind blowing.
Truly, without much attention being paid to the education supply chain and simplicity, investors and companies would be suspicious to try out the fast-growing technology. Blockchain technology, without doubt, has a great potential to grow more than what we have seen today with the inception of NFTs, Web 3.0 and the cashless economy. On this note, application developers have the responsibility to create a friendly interspace and ensure there’s diversity in the acquisition of knowledge.
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