'Anyone who has ever built anything lasting knows that persistence, at scale, wins. And that change may seem a long time coming, right up until the moment it starts happening fast.' Opinion NoelleInMadrid
How can we not be early when we are still debating technology standards, let alone applications? Historian and economisttalks about cycles of technological adoption: First comes the installation phase in which the infrastructure is built, then comes the deployment phase when the technology is broadly adopted. Obviously, we are far from broad adoption – we don’t even agree yet on what that means.
Critics are right in calling us out for sometimes hiding behind the “early” excuse to explain bad behavior and lax code vetting. Just because we’re a young ecosystem doesn’t mean we can’t do better. But here’s the thing: Most of us couldn’t have invested in early internet businesses. That generational opportunity was limited to venture capitalists and their accredited investors. With the blockchain ecosystem, however, investment in early opportunities is open to anyone with an internet connection, anywhere in the world. And often, the investment is not – as in the 1990s – in a shell or wrapper that represents the technology. Now, the investment can be in the technology itself.
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