“Blockchain today is like 1993 internet — we’re still at the early stage of building protocols and middleware — albeit with 1999 bubble hype,” writes Simple Token Founder & CEO Jason Goldberg. “The current cycle is more compressed than the 1993–2000 dot-com cycle because blockchain technology is based on immediately recognizable economic value, whereas Internet companies were valued based on potential future profits and stock prices. The dot-com bubble was fueled by investor enthusiasm to get into those zero-to-one projects, much as the crytpo bubble is today.
Just like the long term potential and societal impact of the Internet was mostly speculative twenty years ago, the long term impact of blockchain and cryptocurrencies is elusive today — which further drives the mystery and excitement for it. 20 years ago we had no conceptualization of a Facebook or a WeChat or Amazon Web Services. Twenty years ago there was no Google, no Salesforce, no Twitter, no Snapchat. Today is ground zero for Blockchain.”
Read more in Insider Reflections on The ICO Bubble.
The Rest of This Week’s Top 20 Tech Stories:
Capsule Networks Are Shaking up AI — Here’s How to Use Them by Computer vision addict at IBM Watson Nick Bourdakos
I built a LinearRegression that can play Pong with me. by Builder of Smart Things Diego Aguado
The real danger of Artificial Intelligence it’s not what you think by Sata Science Manager João Duarte
This “location hack” helps you engage with your users by Botletter Founder Nicolas Le Roux
Yes, this kid really just deleted $300 MILLION by messing around with Ethereum’s smart contracts by Law & Blockchain Founder Thijs Maas
Facebook, news publishers, and the ‘demand’ for video by TheNextWeb Director of social media for Matt Navarra
Bitcoin’s Big Move is Nothing Compared to Where Ethereum is Taking Us by Chemist, Father, & Obstreperous Libertarian Tom Luongo
The Myth of the Interchangeable Developer by Software Engineer Scott Shipp. “Every language is surrounded by its own idioms, build and dependency management tools, frameworks, libraries, online communities, IDE’s, and more — things which in daily practice have a much higher impact on developer productivity than we think.”
Until next time, don’t take the realities of the world for granted.