Blockchain and cryptocurrency have been in people's minds for quite some time. Almost everyone has heard of Bitcoin, and many people even participated in ICOs. This technology is expected to disrupt various industries and change our current lifestyle. However, none of the blockchain projects can be adopted on a real scale. Why is this so? If you think about it, this industry has raised a lot of funds, so this is certainly not caused by lack of funds. The blockchain industry and the Internet are often compared together. Tim Berners-Lee founded the World Wide Web in 1989. Some of the largest Internet companies we know today were founded in 1994-1995 (Amazon, eBay, etc.), but it took them a few years to get large-scale use. To be precise, there were 248 million Internet users in the world in 1999. In contrast, 10 years after the creation of the blockchain, the number of people who own blockchain wallets today is approximately 25 million. However, some people have several wallets, so it is safe to say that the number of blockchain users is about 20 million. During the same period, there were 10 times fewer people using blockchain than the Internet. If time and money are not the biggest problems, where is the problem? In the next paragraph, I will analyze what hinders the adoption of blockchain and make educated guesses about the future development. Solve scalability v It is worth mentioning that this problem is being solved. The developer team is studying solutions such as Lightning Network, Shares, Sharding, Plasma, etc. Only time will tell which is the best solution, but before the problem is solved, large-scale adoption is impossible. Most people can join without causing the system to crash, so more and more people will have confidence in this technology and participate in it. Addressing scalability may be the first step that needs to be taken. Blockchain will not spread like a virus. Regain people's trust If we trace the origin of the blockchain, we know that it solves the problem of trust for us. After the 2008 financial crisis, people lost confidence in financial institutions, and Bitcoin seems to promise to provide transparency, trust, and decentralization. Ironically, a recent survey by PricewaterhouseCoopers revealed that trust is one of the biggest obstacles to blockchain adoption. The underlying reasons may be constant trading techniques, scams, and negative publicity surrounding ICOs. In a sense, people still don’t believe in technology itself. Many people lost all their funds due to the loss of their private keys. The question now is how to restore trust in space. A necessary step is better ICO supervision. In other words, ICOs should keep their history, and those who try to deceive investors should be subject to clear legal sanctions. Fortunately, this problem is being resolved. In order to review the scam, a community of ICO experts is being created. Ordinary investors have become more cautious about the choice of ICO. A few months ago, Vitalik Buterin proposed an interesting ICO model called DAICO. Generally speaking, this concept means that the funds raised are gradually released. If investors are satisfied with the team's performance, they will release tokens. If the team performs poorly, investors can even decide to tear up the contract and get their money back. Adopting the DAICO model may be a step in the right direction, but so far, the ICO team has been reluctant to use it. The government is an organization that can supervise ICOs, rather than expecting the team to do it by themselves, which will lead us to the next step. The government should have clear regulations on the ICO and blockchain space When you can be sure that some government rules and regulations will not undermine it, it makes sense to focus all your efforts and time on one project. Unfortunately, this is not the case with blockchain. The governments of many countries have no official position on this issue, nor a 100% clear position on the specific situation. Individuals are reluctant to join the community because their decisions should be based on regulatory theories rather than fixed rules. In the worst case, regulation may even cause your entire effort to fail. In order to achieve the purpose of large-scale popularization, timely and good supervision is necessary. With the popularity of blockchain and cryptocurrency in 2017, governments of various countries have taken a more serious stance on this issue. Some countries are more inclined to "do business first, then supervise", while the United States prefers the "supervise first" approach. Both of these options have pros and cons, but for blockchain, it is essential to have a unified regulatory framework. With this in mind, G20 countries have already begun discussions this year. Unfortunately, there is no formal consensus yet, but it is only a matter of time before there is clear and unified blockchain supervision. The more popular the technology, the faster the government will act. Make it easier for people to use Following a simple path, it is human nature to do what leads to the least resistance. This is exactly the case with the apps, websites and products we use. In other words, everything based on the blockchain should have the same or better user experience as the current solution. Not long ago, I tried to persuade some of my friends to join the blockchain movement. But it seems that many people are reluctant to take the time to understand this technology. What most companies should do is to continuously improve the user experience and simplify the product. Obviously, this will take time, but it is a necessary step for mass adoption. Concluding remarks Once the blockchain becomes scalable, regulated, easy to use, and has people's trust, then the development of the field will be unlimited. Installation Accessory,Encoder Sensor With Coupling,Encoder Sensor Wheel,Sensor Encoder Yuheng Optics Co., Ltd.(Changchun) , https://www.yuhengcoder.com