Some people say that blockchain may have arrived too soon for everyone. Some out of this world theories even proposed that “Satoshi Nakamoto” has time traveled from the future to bring us this blockchain technology that powered cryptocurrencies, games, apps and other services that we have today.
Blockchain is transformative and it continues to be transformative. In recent years, it has been used mainly for cryptocurrency transactions. There have been applications of blockchain on health care services and government services too. However, lately, cryptocurrency has been declining. 2018 proved to be the most difficult for cryptocurrencies as they have been losing value the whole year, up to 80 percent. And this decline has been going on steadily. Did blockchain fail?
While it is true that blockchain is not entirely just cryptocurrency, these cryptocurrencies still fuel a big part of blockchain’s applications to the masses. Some analysts believe that 2019 will prove harder years for the blockchain technology. A mixture of confusion, lack knowledge, and understanding, no vision for results and just gloom in general will lead to this predicted downfall.
Today, blockchain’s impact may be significantly less than when it started or 2017, but only the future can say whether or not blockchain will reign and stay.