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Five reasons why the Blockchain bubble will be the bubble of all bubbles

Posted on June 13, 2017

In early 2000 I got caught up in the internet bubble. I was betting the farm on one single stock, Net Perceptions (NETP), which I hoped would go times 10. However the opposite happened. The market tanked, and tanked and tanked some more and I lost it all and then some more. Now 15 years later, a second mortgage richer, I am at it again. This time the bubble is called the blockchain bubble and it feels like yesterday. Markets are up and up and you start thinking that you know what you are doing. But still, this bubble is different. This will become the bubble of all bubbles.

These are my 5 reasons why this bubble is different from all other bubbles that came before.

1. Blockchain is the next thing after the invention of the internet

If the internet is your brain, blockchain is your neural system. It will work completely automatically on the background. If you combine blockchain technologies with internet technologies, mobile technologies, artificial intelligence, machine learning, big data and the internet of things, then most of us will be out of a job pretty soon. This is the moment where powerful digital technologies converge. A singularity.

2. The whole world is joining in the frenzy

Other bubbles were more local, more oriented to the west. Now, 15 years later, mainly because of the internet, wealth has spread all over the globe. Bitcoin mining is lead by China and trading by Japan. It is truly a global party. ‘So much fun!’, to paraphrase, Donald Trump.

3. There are no numbers

The new companies seem to be in an eternal development phase. They do not launch a product that can be evaluated on its performance. It is all marketing and development. And even if they would get out of the gate they are not listed on the stock market. They do not comply to SEC regulations. There will be no public balance sheet to scrutinize. At some point we will get some more clarity but until then we can go on pretending that everything is fine.

4. Once you go crypto you never go back

It is not so easy to go crypto. You need some sort of manual. Which exchange, the wallet, buying crypto for fiat, sending crypto via strange codes etc.. The first time you send a transaction, it is a scary experience. Most people are so happy they passed the crypto inauguration test, they feel, they are now part of a secret society. At the same time they have no clue how to take their money back out again. Money gets stuck into the crypto web and it does not come out anymore.

5. Innovation is the name of the game

Everyone has understood that innovation is the game changer within our lifetimes. Innovation is where it happens. We all know the immense success of tech companies like Apple, Google, Amazon and Facebook have had over the past decade. Once upon a time, the biggest corporations were in oil, cars and insurance. But not anymore. The biggest companies are tech companies now. Digital technology provides for concrete improvements within our lifetime. It is incredibly fast because it is based upon software and communication technology that moves with the speed light. Everyone is focussed on digital for return on investment.

 

At CONNAXIS, we say ‘Let’s Make Magic!’ We keep our customers competitive and create value enhancing experiences for the end-client through the application of innovative digital technology. We are ALL IN on the blockchain. This bubble will be magical. It will lead to a boom that we, us humans, have never seen before. If it pops, I will probably be out looking to get at third mortgage loan. But oh boy, do we live in exciting times.

Share this with your world

Peter Van Grinsven

Managing Director