Blockchain's Adoption Challenge Is a Human Problem, Not Technical

Since my very first encounter with it in 2011, and over the course of my experience as an investor, entrepreneur and corporate executive in this space, I have come to this realization: blockchain is not a technology.

"Blockchain" as a concept has the potential to be extraordinarily powerful if and only if, we as a society are willing to change our own direction and purpose.

In short, the principles that underpin blockchain point to a potential resolution of the conflict that technological change imposes on our search for meaning.

The limits to blockchain realizing its potential are typically described by computer scientists in terms of the "Scaling problem:" that it is too costly to amass the massive amount of computational power needed to replicate the processing of all the world's.

The success or otherwise of blockchain solutions is too often framed in terms of the quarterly results expected by shareholders and by a blind adherence to the incumbent mode of operation.

"Best versions of blockchain." They compete for dominance when a collaborative approach could better solve the problem at hand.

If blockchain is to scale to the point where it can be relevant to the existing economy we also need to change the mindset and motives that drive the crypto startup community.

Harnessing the potential of blockchain is not technology problem, but a human one.

Blockchain potentially has a role to play in this, but only if its own ego-driven fiefdoms can step aside and collectively work on standards and systems that are in the common good.

It means we must define a role for government and civil society in setting the right legal and self-regulatory framework within which blockchain technology can develop in the common interest.