The blockchain technology has been taking the world by storm in recent news as the whole “everything blockchain” motto has become popular. Lawmakers have been taking note of the relatively new technology and finding ways to use it across the board. Blockchain has resulted in the raising of around $1.2 billion in funding for companies just over the course of this year alone.
The Times Higher Education World University Rankings, has endorsed the technology by being “the only global university rankings subjected to full, independent scrutiny of this nature, has seen 13 top global universities already having added Blockchain education to their curriculum.”
Although blockchain does appear to be the next big thing, it has yet to become fully adopted by the mainstream world. The slowness of its entry into the marketplace has hindered it becoming a worldwide phenomenon, but that may be changing soon.
Blockchain has been around for quite some time now, but has only just been taken note of across various industries. Blockchain is the basis for cryptocurrencies such as bitcoin, which has been relatively based on speculation and often dubbed an illegitimate currency. Bitcoin has continued to take on scrutiny from financial leaders as well as political bodies. None of those big players in the industry however, can deny that the underlying blockchain technology does not have a high amount of potential in the current world.
One of the main issues with blockchain is the legislation that follows. There is no doubt that blockchain has a place in the developing world, but one that will only take main stream effect if it can maximize its potential. The only way that it can do that is with government bodies effecting some sort of legislation so that it can become widely accepted and distributed.