Monthly insights to blockchain, protocols & solutions
With this first blog post in the category Blockchain Insights, we share our motivation, goals with Blockchain Insights and why we started at this point in time. This monthly update will help you keep up to date with blockchain and Web 3.
Blockchain’s Product-Zeitgeist Fit is coming
Many people have heard about the importance of product-market fit for businesses. D’Arcy Coolican wrote a great article why product-zeitgeist fit is also important. Product-zeitgeist fit describes the situation when a product resonates with the mood of the times and people want it to win. Over the past few years, we’ve seen many established businesses and talented people come into blockchain from Google, Facebook, banks and all industries. By now, there are 1000s of small communities that want their project to win and support that with time, t-shirts, educational content, and other contributions. This indicates a decent interest from early adopters. At the same time, real-world adoption of use cases and blockchain-based applications are perceived to remain low. Why is that?
Gap between Tech and Market
It is important to understand the basics of cryptocurrency and blockchain in order to understand the adoption until now. Blockchain is a cutting-edge technology that combines various research fields from cryptography to computer science and economics. Public blockchains such as Bitcoin enable the issuance of a token, a cryptocurrency, that can be used as “digital money” and incentivizes people to join and secure the network. (Read more about this in “Money & Crypto” and “Blockchain History“). Besides developers, the creation of digital cash systems and invention of ICO crowdfundings attracted mostly speculators and investors. More and more individuals and businesses have started experimenting with one or a few of the many available blockchain technologies on other use cases in all verticals. There are specific use cases in all industries but the most viable use cases are peer-to-peer payments and blockchain as a new backend for Web 3 in order to enable a more privacy-preserving, efficient future internet. Many projects work on infrastructure projects – core blockchain protocols and middle-layer protocols – for this backend-revolution. The user-facing applications are still in an infant stage (Vitalik’s progress report) but ultimately, users will not see any difference between Web 3 applications and today’s solutions except lower fees, more privacy and the option to handle financial values without a third party.
Let’s spread Education
Various “technology providers” and contributors have already generated fantastic resources. However, most of that information is fragmented and shared by people that are highly incentivized through their cryptocurrency holdings. It is also tough to differentiate between marketing news and real newsworthy updates. This makes it very hard for people to access the objective information they are looking for.
We strongly believe that consolidation of the blockchain market and blockchain education is necessary to attract qualified people and businesses that may care about improving society or simply about building a great businesses. We identified 3 key areas of knowledge, help people & businesses find quality resources and get the right solutions.
- The Blockchain Knowledge Base includes basics and deep dives to all blockchain topics to make it easy to dive into blockchain technology and cryptocurrency.
- The Blockchain Protocol Overview and great layer 1 protocol onboarding resources make it easy to assess, pick, join or contribute to one of the blockchains.
- The Blockchain Navigator, blockchain insights and other initiatives show the current state of blockchain, potentials and value-adds for all parties in- & outside the industry.
If you really want to understand Bitcoin and the blockchain market – read the Bitcoin Whitepaper, through Bitcoin Talk, and multiple other whitepapers, subscribe to some newsletters and podcasts, follow the news and the experts on Twitter. After doing that, or keeping up to date with us, you are prepared to benefit from this Web revolution.
We share monthly updates about the blockchain industry to help you keep track of the progress. Sign up to the newsletter and these updates are sent directly to your inbox.