Just as every new year flies by faster than the one before as one ages, so too does technology evolve faster with each new breakthrough. Survival of the Fittest in the world of technology really does determine who will excel and who will go extinct. Cryptography in blockchain is a new language to the telecom industry that is taking over all industries faster than most saw coming.
Today’s hottest topic of technological advancement revolves around blockchain. All industries, including telecoms, are rushing to stay on top of their game when it comes to it. The powerful law of Survival of the Fittest motivates them. The revolutionary idea of a new thriving future inspires them.
Elon Musk Hosts SNL
On May 8th, Saturday Night Live’s show’s ratings increased quite a bit. Elon Musk, the legendary founder of Tesla and SpaceX hosted it. The number one topic viewers wanted to hear more about from him was his view on crypto. Of course, he promised his mother Dogecoin for Mother’s Day.
Whether you thought his joke was funny or not, his point held a fact- crypto is taking over. Cryptography is the new standard of technology. Blockchain is every industry’s future. Whether we admit it or not, we are already digitalized. Whether we accept it or not, we will soon become decentralized.
Bitcoin Already Took Over
Once upon a time gold was considered to be the most valuable currency. But then came Bitcoin. Today, one Bitcoin is worth more than 28 times the amount of one ounce of gold. How did math beat matter? How did something that most used to believe was a joke become a powerful economic influencer?
Cryptocurrency is now officially more valuable than all of the circulating US currency. Many say that there is a bubble burst coming. However, few realize that cryptocurrency is not the same as the housing market. Neither is it the same as the dollar. While the value of the dollar is clearly inflated, we have yet to even tap into the value of cryptocurrency.
Blockchain In Telecom
So, how will blockchain affect telecom? Well, a tool of such great value sure did not go unnoticed. Telecom companies are already actively introducing blockchain technology into the industry. Major changes are coming to all aspects from devices to interconnect, identity management, mobile payments, operations, automation and so much more. More and more blockchain startups within the industry continue to emerge. Telecom’s industry leaders are seeing the great vision a blockchain future holds and are racing to take advantage of the opportunity at hand. The industry is already changing and adapting accordingly. The transition is happening now, so it is only a matter of time before blockchain will be fully adapted by telecom.
Blockchain technology is developing today at an exponentially multiplying rate. Albert Einstein was once asked what he thought was man’s greatest invention. His answer was, “Compound interest.” He even referred to it as the “8th Wonder of the World.” Well, if compound interest is the 8th Wonder of the World, then blockchain technology must be the 9th Wonder of the World. Blockchain is already leaving the whole world in wonder of its untapped power.