Use cases and application of technology determine the true essence of that technology. Apart from essence, the value of technology is also dependent on the two aforementioned factors. Many people associate these parameters when it comes to examining blockchain but there’s no conclusion reached except arguments and debates. However, the future and potential of blockchain is something that concerns people, irrespective of their stance i.e against or in favor of blockchain. So to explore the future and true potential of the blockchain, William Mougayar, who wrote The Business Blockchain, was approached by BlockPublisher.
William Mougayar is a well-known personality. He is venture advisor, entrepreneur, marketer and strategist. He has founded Engagio and Eqentia. He is a board member at Kin Ecosystem and Stratumn, a platform that uses Proof of Process technology. Apart from this, he is the founder and producer of Tokken Summit, a premier conference on the token economy. His affiliations with the blockchain and space started way back in 2013. He understands the space very well and his experience depicts nothing else than his sound expertise. He was asked if blockchain was capable of surpassing people’s expectation so he shared his opinion on the matter with BlockPublisher. He said:
In the long term, Yes. In the short term, No.
Many people consider blockchain a technology with many limited uses cases so William was asked to share some thoughts about people’s perception. Therefore, he stated:
The limits are in people’s imaginations. But the reality of use cases must be calibrated against the tech’s capabilities today.
The adoption of blockchain has been seeing mix views lately. Major firms and even governments have adopted blockchain for various projects but still, blockchain has not acquired a crown of success that clears the doubts of all the people who are not satisfied with the technology at the moment.
According to Williams, long term prospects do shine for blockchain and people’s imagination is an obstacle preventing blockchain from finding more use cases. With time passing by, we will have a more clear picture about blockchain’s capabilities and potential to determine the feasibility of adopting or discarding the blockchain.