Insights from Addy: Blockchain Technology
Blockchain is a hot topic these days both in the field of computer science and, increasingly so, business. Business leaders are wondering how blockchain technology can be applied to their business.
At the same time, the meteoric rise of Bitcoin in late 2017 introduced many consumers to the blockchain. This naturally sparks conversation and questions surrounding the technology and when people will be using (or transacting on) a blockchain.
Tenpoint7 has created a tool named Addy that ingests Reddit data to find out what questions are being asked and perhaps more importantly, what topics people are discussing. These insights are not only interesting but also helpful in seeing where people are directing their attention.
Without a doubt, adoption is the number one thing on people’s minds. The graph below shows the most discussed topics on Reddit (related to the blockchain) in the month of July.
The top four topics all relate to the usage and adoption of blockchain technology. The first, healthcare, is often cited as a use case to protect sensitive health records and patient information.
A close second is related to e-commerce and smart contracts. While a simple payment using cryptocurrency does not require a smart contract, some more complex transactions can benefit from smart contracts.
Adoption of blockchain occupies the third spot. With all the buzz and hype surrounding blockchain, a lot of which is due to ambitious goals set out by projects, people are anxious to see blockchain being used for more than the trading of cryptocurrency. Stablecoins like StableUSD are a missing piece to adoption. The low volatility of stablecoins makes transactions less risky for both parties.
The fourth most talked about topic is related to education. There is a lack of education and organized resources for people to learn about blockchain technology. While the information is out there, it can be difficult to find. These results show that people do want to learn how blockchain can be used.
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