Comparing Blockchain and renewable energy as the future
Some of my friends know that I'm doing a lot of things in the crypto world and I have a decent understanding of blockchain and its concepts. I get into conversations with some of these friends who would like to know more about Blockchain or cryptocurrencies. Mostly they start with Bitcoin and they keep dragging the conversation towards Bitcoin alone. I will have to first convince them that Bitcoin is not the only cryptocurrency and there are so many other cryptocurrencies available.
Most of the time when I have these conversations, it would only end up as a failure. It will be hard for me to convince them to join a cryptocurrency platform or make them invest in something. Some of the common questions I get from people are as follows:
Is it true that Bitcoin is the future?
Can I know only the blockchain technology and not do anything with cryptocurrency?
Is there a way to convert the money to FIAT?
Will I lose money if I invest in Bitcoin?
Can I mine cryptocurrencies and earn from that?
There will be so many other questions from them and most of the time these questions are very basic ones from what I have seen, even though we explain this to them, they still don't get clarity and they ask us the same question after a few days. It is hard for people to pay attention to these topics.
Some people even think that it is a complicated concept. I was telling my friend today that Mobile phones were also a technology that was not easy for individuals to understand. Technology has evolved so much and when this technology came into existence, there was a huge resistance and adoption was a huge challenge. Later were innovations made and mobile phones were made in such a way that it is user user-friendly and even a small child is able to use them. This is how the blockchain and cryptocurrency concepts are right now. It can take a lot more years and more innovations to make it user-friendly and adoption-friendly.
I was giving this analogy that we can compare both Blockchain and Renewable energy. Both are going to be the future and there will be a huge adoption of both technologies but right now we cannot say what the scope for them can be. For real-world examples, I said that we can easily say that renewable energy adoption can get serious in the coming years. Even today there are many individual houses installing rooftop solar panels to consume electricity for free. Their investment cost would be initially huge but they can recover the cost in 10 years time and electricity after 10 years is absolutely free. Let's say they are using the panels for another 10 years, it is a save for them.
I try to explain to people that blockchain technology is also in its early days right now and when it starts getting popular, there will be a huge demand for this technology and many developers will start learning blockchain technologies to build many decentralized applications. Of course, there will always be a demand for traditional databases and traditional methods but gradually the students will start learning about this in their college curriculum itself and when they get started, they will become highly knowledgeable.
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