Embrace Blockchain Technology
As some of you know about Blockchain technology, and some may only have heard about it, here I would like to clear some misunderstandings about this new exciting technology, so you can know which direction it will be taking us in the future.
Late last year, there was a huge craze around ICOs. A lot of people got into the space to invest without understanding much about the underlying technology. Unfortunately, few companies took the advantages of their lack of knowledge. Some projects didn’t deliver the products as promised, but some disappeared after collecting millions of dollars. This caused a lot of fear, especially when the media only reported the downsides of the story.
However, we have to look at the bright side too. Many corporates in different industries have already integrated this new technology. Like IBM, they have built their own Blockchain. Also, some governments are quite open to discover the huge potential opportunities that Blockchain technology can benefit them. We can see the world is moving towards this latest technology and the potential is unlimited for every single industry!
Therefore, instead of the fear of the bad sides, or choose to walk away, why not learn more about how it works, and what the potential it will bring to us?
Here, I have 3 pieces of advice for you:
- For those who didn’t get a chance to know more Blockchain technology, I suggest you do some researches on how Blockchain can be applied to different industries because it will eventually replace the entire current economic system.
- For those who are considering investing in ICOs, I recommend you not only check the companies’ whitepaper but also check if they have developed an MVP (minimum viable product). If they have a solid team, it is expected that they should at least have something developed to demonstrate their abilities as a company.
- When you consider which project to invest, you have to check their terms of token sale in the whitepaper. Make sure they have a locked term or vesting contracts for whales, who are buying a large number of tokens in the token sales, so it won’t create a huge drop of price when they sell it, which would be a disadvantage for everyone else.
Knowing Blockchain technology is dominating in this era, it will eventually shift the whole economy. We need more people to learn more about how Blockchain technology works. If more people like you can integrate your expertise and knowledge in this technology, we are foreseeing a decentralized approach and community-based future, which will create a huge difference to the world.
Islam Abdullah
CEO & Founder
