The Blockchain and Crypto space are born of collaborative innovation. New projects and improvements are cultivated daily. The overwhelmingly supportive community has created a filter bubble against blockchain tech developed by more “Old-school” companies.
Humans filter their environment with genius and/or ignorance to meet the needs of their reality. We live in a bubble that only holds what we have let in consciously or unconsciously.
The internet provides revolutionary access to disperse, create and repurpose data – it does not fit. So we have collectively and individually reformatted filters to that space.
“Filter Bubble” highlights the issues of a phenomena people knew was happening already. The term gained popularity in 2011 after Eli Pariser’s Ted Talk. The Internet Activist coined the term in 2010
“that personal ecosystem of information that’s been catered by these algorithms”
Give and Take – This process was a necessity to create the revolutionary technology of Bitcoin and subsequent evolution of blockchain technology. But without a push to invite existing organizations into the space, who is going to benefit from implementation?
What are we missing?
When related to government regulation or payment processing, Fortune 500 companies will get much attention – banks or stock exchanges urging or pushing back on cryptocurrencies – credit card company partnerships for crypto-cards.
In 2017 22 patents relating to blockchain were granted. 21 in the U.S. and 1 in the EU to companies like Bank of America, Dell, TD Trade, Samsung, Microsoft, and Cisco – Breakdown of Blockchain Patent Applications/Holdings
Of course, every one of these might be completely irrelevant a year.
Beyond Patents – Samsung example
They produce the hardware right? It was big news back in January 2018 when the company confirmed they were going to manufacture ASICs.
But Samsung’s Bubble is way bigger than that – Founded in 1938 as a trading company. Diversified to food processing, textiles, insurance, securities and retail. Over the 80 years they have expanded by delineating affiliates in those fields, as well as medical, machine tools, several forms of insurance, fine chemicals and more.
They have partial ownership of a dozen other differentiating companies. The vast majority of their revenue remains in electronics (over $174 billion revenue). But outside of that, they currently have global impact in:
- Ship Building(over $8 billion revenue)
- Information Services(over $7 billion revenue)
- Life Insurance(over $24 billion revenue)
Samsung even owns an amusement park – “Everland Resort,” the oldest theme park in South Korea. (How does Disneyland not have a cryptocurrency yet?)
In just about any industry, blockchain technology can add unmatched security and the capability to increase efficiency with more access and accurate data. And on top of all this, Samsung is working to make that happen.
If you haven’t learned the lesson yet from trading cryptocurrencies – you should. Long game wins.
Jumping ahead of the closest crypto or blockchain start up competitor is not part of that game. That is the short game. That keeps the bubble small.