During the beginning of the social media years, numerous investors and digital entrepreneurs saw the potential associated with using social networks to facilitate communication around the world. Indeed, no one can deny the impact of social networks and their occurrence in our daily interactions. This change came from the innovation to use an already existing infrastructure known as the internet combined with open source technology to create a communication network. To explain, if you take away all the complexity and the fancy features associated with social media. Social networking sites are simple communication tools. They allow users to chat, send files. and share content. These features are not something new or revolutionary by itself but what made these social networks so powerful is the innovation to combine all these features in one site. I am writing this article to explore the idea of "The Next Big Thing" in technology and business innovation. I will use this article to lay down my understanding of why I believe Bitcoin Cash is the next big thing.
Initially, if we go back to the social media example we can notice a simple pattern that emerged early on in the days of social media network companies. This pattern is known as the network effect. To elaborate, when the social media giants started going full blast competing for market share the winners were those who had the highest number of users. Indeed, this competition on users comes down to a simple known fact in the world of technology and digital business known as the network effect. Simply put, the success or failure of a platform is determined by the existence of a network of users that are using this platform day in and day out. For example, if we take one of the leading social media players and analyze this effect we can see that they managed to attract a huge number of users early on. This created a great incentive for people that didn't have a social media account to simply join the network because they needed to be in a place where their friends, family members, coworkers are all connected. This simple concept applies completely to Bitcoin Cash. To make a long story short Bitcoin Cash is a reliable digital currency that is attracting a lot of users. In other words, if the growth of this digital currency keeps on increasing it will eventually benefit from the network effect. This will result in the creation of an extensively used digital currency which will end up pushing Bitcoin Cash as the number one player in the digital currency world. The success or failure of Bitcoin Cash is not the question anymore but the real question is how much time it will take for Bitcoin Cash to become The Next Big Thing.
