What Blockchains Can't Do
Here’s the deal -- blockchain is amazing. The technology, the surrounding innovation, the people involved, it is all GRADE A. No joke, we don’t hype it up for nothing. But, that being said, every superhero has its strengths and it won’t always be everything. Plus, everyone is worried about blockchain/technology taking over human jobs. So, it looks like we need a little clarification on what blockchain CAN’T do. I’ve broken down four of the biggest no can do’s.
The Last Mile Problem is Still a Problem
Alright, first and foremost, an obvious answer is that blockchain will not solve the last mile problem. Don’t know what that is? Good thing I’ve broken it down for you. It involves Gucci Loafers, a serious can’t miss read.
Now, when it comes to the last mile problem, we know the last mile problem worsens when costless verification gets better. Compliments, am I right? Sadly, blockchain does NOT solve the last mile problem. For now, the offline world is staying offline and blockchain is simply not offline. So does that mean that it’s a bad thing? NO! It means it is an opportunity to growth and for new business ideas. Thank you blockchain for CREATING JOBS!
Blockchains/Technology Do Not Have Emotions
Can blockchains fully take over human jobs? Let’s rephrase -- do blockchains have emotions? Uhh… NOPE! At the end of the day, blockchain is a technology and with all of these technologies, no matter how good AI is or how well they are programmed, they just can’t beat that of a human’s emotions. While blockchain will severely help with things like marketing and ads, it won’t completely take over the industry -- just enhance it. Without human emotions involved, there would still be a disconnect and gap.
Corrupt People Stay Corrupting
Coats are great for keeping us warm, but do we always wear them when it’s cold? According to 3/4ths of the girls going out on a Friday night in the dead of winter -- NAH. Blockchains are great at recordkeeping and can add a lot of security when it comes to traceability and security, but just because the crimes can be pointed out, do people always react? Once again, NAH. While blockchains may help us to improve the visibility to corruption, it’s not going to force people to act on it.
Don’t Throw Your Dollar Bills Away
As awesome as cryptocurrencies are and as popular as they are becoming, it is quite unlikely that they are going to completely overthrow the OG mula, fiat currency #billsbillsbills. People, companies, and especially retailers still feel a bit iffy about relying on a digital currency, especially considering the volatility. Sadly, the number of retailers that accept Bitcoin as a form of payment has gone down in the last few years after the initial hype. So, if you’re planning on going shopping at Bergdorfs anytime soon, make sure you’ve got that (fiat) money in the bank,
