In the following lines I will not mention the cryptocurrencies – much criticized and the subject of another debate – which constitute just one of the many applications of the Blockchain: their systematic amalgamation often serves its cause, as well as some often controversial NFT Collections.
A study by Gartner (2019) very simply summarizes the generally observed evolution of new technologies, such as Blockchain. Let’s examine the three key stages of this evolution.
First phase: experimentation, discovery.
Traditionally appreciated by the most curious, be they enthusiasts or even companies, this phase consists of understand the fundamentals and benefits by applying them to existing processeswith the aim of improving them and making them more efficient.
According to Gartner, we know this phase for the Blockchain from 2012 to 2020. It should be noted that only 3 key criteria of the Blockchain were applied during this period, namely distribution, cryptography and inalienability. Decentralization and tokenization were excluded.
Second phase: innovation
Gaining popularity, a new technology naturally attracts players whose innovation is at the heart of their existence, hence the emergence of startups. Also according to Gartner, for the Blockchain this phase began at the beginning of 2020, and should end in 2023. Of course, it is not set in stone… Many have called and few have chosen… probably on the order of 1%.
Third phase: combine and integrate new technology with existing technologies
It is very likely that, in the future, Blockchain technology will gradually mix with other technologies and fields such as Artificial Intelligence, Cybersecurity, IoT, etc.
Once tested, the new technology is integrated and combined with other existing and consolidated technologies on the market. In the case of the Blockchain, and again according to Gartner, we are only at dawn.
It is very likely that, in the future, Blockchain technology it will gradually mix with other technologies and areas such as Artificial Intelligence, Cybersecurity, IoT, etc.
I am convinced that it is premature at this stage to draw conclusions and judge the relevance or otherwise of a technology such as Blockchain, particularly within companies and that, on the contrary, decentralization of data will be one of the great challenges of tomorrow.
Decentralization is interesting, indeed essential, for the consumer more than for companies.
Thanks to the Blockchain, and therefore to decentralization, the consumer:
- has 100% transparency,
- it is certain that there are no hidden intermediaries,
- maintain control of access to their data,
- he is certain that his data are unalterable.
Companies, on the other hand, probably have less to earn directly. It’s just a new operating model. In fact, it’s much easier develop centralized solutions from the business point of view and technical rather than imposing decentralization.
Companies are therefore probably wondering why they are imposing such a challenge on themselves, in particular, because in the short term the gains are difficult to quantify and do not necessarily guarantee significant growth.
The transition to widespread decentralization will accelerate when consumers truly understand what is at stake.
Like the awareness of ecological issues that took a generation to take hold, it could be the same as decentralizing data. The transition to widespread decentralization will accelerate when consumers truly understand what is at stake. It will then become inevitable for companies to think “decentralized”, and rethink their model.
This will most likely become a consumer requirement. More and more users are sensitive to the use of their online data : where is it stored? What are you going to do with it? Do you use it for other purposes? There are countless cases of misuse of personal data without our knowledge.
Companies respectful and convinced of this new paradigm they must now act as evangelizers integrating all or part of this new technology into its operation, considering that it is a lasting investment, to be made without further delay, and in a progressive way, and wondering: do you want to be the next Kodak or Nokia? , or the next Amazon …?