Why Bitcoin Is the MySpace of Cryptocurrencies, But the Blockchain Is Here to Stay

Cryptocurrencies came onto the scene about a decade ago and have continued to redefine the way we perceive and handle financial transactions.

However, the real hero of this heralding was not the cryptocurrency but the underlying technology that makes cryptocurrency transactions as feasible and efficient as they are — the blockchain.

The real potential of the blockchain came when innovators and visionaries across industries began to realize that it could be separated from the digital currency and used to revolutionize every other industry. As evidence of its effectiveness, businesses across thousands of industries have experienced mind-blowing innovations thanks to the integration of blockchain technology as developers have seized the opportunity to become creative with the versatility it offers.

As more people embraced the blockchain technology, some industries began to feel threatened by its presence and its disruptive nature.

While there is an understandable fear that Bitcoin may turn out to be just another financial bubble; the MySpace of cryptocurrency if you will, the real loss would be if the blockchain doesn’t live up to its promise.

The million dollar question then becomes, is the blockchain here to stay? To be able to answer this, we have to first understand the psychology of blockchain: […]

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