Every technology takes time to be adopted. Just like internet only a few people knew about it in 1990s but today it has taken over and continue growing in all fields. Through internet we have had profound changes in the world in the last few decades. The internet has brought evolution in online information, entertainment, transportation and social networking.
Blockchain is still a very young technology and just like a baby it is going through the stages of development. We will still see a little of falling and rising as it is trying to stabilize in the market. While, undergoing through the stages of growth, blockchain as an open source application, has many guardian trying to improve it every day. At the end, more and more developers will improve it and make it more robust. Blockchain technology is the key to reducing poverty, improving healthcare and fighting corruption.
With blockchain technology we will see the world move from centralized to decentralized social system. People will be able to transact with their peers without intermediaries who do not bring any value to the current system. We will have a system which we will no longer need to trust a person or institution to complete the transactions. In addition, since the system publicly announces every transaction, it makes it impossible for people to lie or cheat the system.
Blockchain has rules based on mathematical computation and consensus algorithm. The system is immutable and the rules cannot be changed. We have seen people try to regulate the system but they have to understand they can’t. Blockchain is borderless and global, regulating it out of a country does not mean it won’t be used.
Adoption of a new idea does not happen instantly in a social system. Rogers (1962) explained that people adopt innovations differently in five established adopter categories.
1. Innovators -people who want to be the first to try the innovation. They see opportunities in new idea. They are willing to take risk.
2. Early adopters – they represent opinion leaders. They enjoy leadership roles, and welcome and accept change and opportunities.
3. Early majority- these people are rarely leaders, but they do adopt new ideas before the average person. They need evidence before venturing to the new idea or innovation
4. Late majority- these people are skeptical about change. They can only adopt an innovation after it is tried by the majority
5. Laggards- these people are traditionalist and very conservative. They are skeptical of change and it will need a lot of work to change their mind to adopt the innovation.
Adopting the blockchain technology will also follow this theory. It will take time and in stages. We are already past the first stages of adoption where the innovators the early adopters and early majority have already taken up the idea. The remaining are the late majority (average person) and the laggards but at least we are heading there. We have already moved from the first cryptocurrency Bitcoin. Now, we have alt-coins all over supporting brilliant and amazing ideas. The technology will continue improving since it is open source. It gives every developer with an idea an opportunity to improve it.
Being in the field of health care I have seen so many crypto-currencies that have emerged with the aim of solving different problems. Ubricoin is a currency aimed at improving global health. Buying Ubricoin gives you a chance to take part in improving the health of the poor and saving the lives of women who die during childbirth. You have the chance to change the future of health of everyone. The future generations do not need to go through what we are going through today in healthcare.
Ubricoin supports different Ubrica projects that have taken more than 20 years of comprehensive and extensive research and case studies to develop. The work of brilliant minds who have their country and their people at heart started a journey to end the escalating problems in the healthcare system in Kenya.
With the emergence of the blockchain technology the dream of the visionaries is now alive. Their vision of achieving not only universal health but also global health is being brought to light by the Ubricoin built on the blockchain technology. Blockchain technology not only connect people from all over the world but also gives the local people the chance to take part in achieving global health, a role that has been exclusively for international organizations. Now, the organizations can make decision based on real data that come from the communities in the villages and not from minute bits and pieces of data speculated by people who are not even in the communities.
Rogers, E. M. (1962). Diffusion of innovations. New York, NY: Free Press.
by Susan Nyambura Njuguna