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The distributed ledger technology, better known as blockchain, is considered the most disruptive tech in decades. It has the potential to eliminate enormous amounts of recordkeeping, save money and disrupt IT in ways never seen since the arrival of the internet. Based on its distributed, peer-to-peer topology where data is stored globally on thousands of servers, it's virtually impossible for one entity to game the system or to gain control over network. As it is the case with any other idea in our times, Blockchain is following the same trajectory of development where initially there are innovators followed by few early adopters and then come the early and late majority. In recent times the disruptive technologies like personal computers and laptops, mobile phones and even the internet itself have followed the same trajectory of development. But with each and every passing year and development of new technologies and platforms the time between early innovation and adoption by large majority has shrunk significantly. For Blockchain we are currently at the stage of early adopters. And this development is not without its challenges. Some may argue that we are already at the stage of adoption by early majority, from the looks of crypto market capitalization of around half a trillion dollars in 2017 makes a strong case for that. But the crypto market capitalization and its underlying technology of blockchain is unlike most digital platforms on the market as it is not an idea of doing a business, rather it is something that will change the way people conduct business forever. The hidden potential of blockchain, if and when unleashed will dwarf the market capitalization of half a trillion dollars. Already corporate giants like Allianz, BMW, Siemens are looking for ways to leverage this technology for their products. It is just the beginning. Everything for Blockchain and Cryptocurrencies is not smooth sailing from here onwards. There are challenges- some really big challenges. The success of this technology will be dependent on the speed and the efficiency with which these challenges are solved.
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