All Innovation Goes Through Rejection, Including Crypto!
There will always be people that resist change when it comes to innovation. Over the course of the last 100+ years we have seen an exponential growth of technology that has changed every aspect of our lives, from entertainment, to work and everything in between.
And yet even though we are living in a technologically advanced era, most people still refuse to accept change in regard to how technology will continually rewrite the way we live. You can probably see where I am going with this..and the answer is yes I am talking about the resistance to learn about about cryptocurrency and blockchain technology.
This got me thinking, what other advancements that we take for granted today were originally scoffed at and dismissed as useless?
According to this article:
The Telephone
This ‘telephone’ has too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us.” Western Union internal memo dated 1876.
Of course Western Union would dismiss the telephone as a serious competitor to them delivering messages by horse and bicycle!
Cars
“I do not believe the introduction of motor-cars will ever affect the riding of horses” Mr. Scott-Montague, MP, in the United Kingdom in 1903.
We all take cars for granted now, but back then people did not consider that every person who could afford one would be using them instead of having to take care of a living animal that you would ride to your destination and tying it up outside to keep it from running away. It seems obvious to us that a car would replace a horse and carriage, but to people that were living in the middle of the transition they couldn't.
Movies with Sound
“Who the hell wants to hear actors talk?” H.M. Warner (Warner Brothers) before rejecting a proposal for movies with sound in 1927
It's hard to believe that anyone would think something as simple as sound in movies was originally rejected. It seems pretty standard for us now...doesn't it? I think this further proves my point that people are skeptical of ALL CHANGE.
These are just a couple of examples of how things that we consider standard were originally rejected. Something I found interesting too was these were examples of leaders of their respective industries not being able to see change coming in their field of expertise...how could the founder of Warner Brothers not see value in the innovation of sound in motion pictures!?
All Innovations Go Through Rejection
I decided to write this article to keep myself, and maybe all of you encouraged about the future of decentralization and blockchain technology. After the last couple months that we have been through I think that we all need a little hope while our dreams have been put on hold...taken hostage by the bear market.
I remember vividly that I was looking up vacation destinations on January 7th, imagining my crypto riches soon coming to fruition at the rate the market was rising. We had just hit the 850 billion dollar market cap for crypto, and I thought the moon fast approaching.
Exactly 7 days later I watched in horror as everything crashed and the news cycle turned from FOMO to FUD.
I should have seen this coming, as crypto was growing at an unsustainable rate and it was bound to happen, I just didn't want to believe it would. I think that's because we are all dreamers. We can see the future, and we can't understand why most people don't see it like we do.
But every technology that ever became standard went through a phase of rejection, and we are going through that right now. There will be endless amounts of misinformation, doubt and lies about crypto. All coming from people who stand to lose everything if this technology gets adopted.
According to this article:
"Philosopher and economist John Stewart Mill made the claim in the 1800s that every great movement or idea must go through three stages: ridicule, discussion, and adoption. This still holds true today." -Fast Company
People fear the unknown. According to this article about a theory called the "Rejection Conundrum" might explain why people are so afraid of innovation:
"We’re literally programmed to be afraid of something we don’t understand. Our brains were designed that way to protect us. The brain stem AKA the Reptilian Brain creates a powerful barrier that very quickly filters and then rejects anything that it doesn’t immediately have point of reference for – triggering the classic fight, flight or freeze instinct. This was useful when it was us against nature, but not so much anymore. Now we mistakenly call it ‘gut’ instinct. But you need to know its happening when trying to persuade people."
Could it be that 2018 will be the year when we leave the "ridicule" stage and enter the "discussion" phase of crypto? I think all we need is another bull run for that to happen. If so...then we all know what comes next. The adoption phase.
Emily
What is a technology/innovation that you originally scoffed at but years later turned out to become an essential part of your life? Have you ever predicted that a technology (other than crypto) was going to be adopted before everyone else? For example, in the early 2000's I told my (now) Husband that I believed that people would be able to access most movies from their home. I imagined a box that you would buy that had an online database of all movies and shows. And now look at how we watch TV! I was pretty much spot on! I would love to discuss what's on your mind in the comments below! Thanks so much for reading and Steem on!
Great post.
I remember telling my sixth form that they should have a website, took them a while to agree and I built it for them when I was 16.
I remember telling my friends to use Google as it has better search results, they assumed all search engines were the same. Does anyone remember excite? I wish I had bought some shares in the Google IPO!
Then there was smart phones, I remember my first Windows based smartphone, MDA Compact! Why do you need to do that on your phone people would ask... Now they are all at it!
First time I bought a Phablet, Samsung Galaxy Note 2. My friends called it a "Laptop" mockingly. Now they all have the same size phone.
So I have learnt that the masses are followers, they will eventually catch up and buy crypto.
We see the pattern over and over.
Now Facebook and Google banned crypto ads. Anyway, that's a good sign.
We can see what is going to happen next.
Looks like you are very good at predicting the future of technology,..hopefully some of your friends/family will believe your predictions about crypto! :)
hmm... You are also very good at predicting the future of technology, @emmyem84 .
Watch this space. I will be back on twitter now as steemit is just full of spam
Take a look at Kabir #FBPE #NHSLove #FBR🇪🇺🇬🇧🇧🇩🇻🇳 (@Kabir_LDN): https://twitter.com/Kabir_LDN?s=09
I will be launching a new crypto fund in London in the next few months
Um, you forgot to mention when things are going to be looking up again! ;-)
As for things scoffed at, this isn't about me, but my sisters...back in 2005, I think it was, I was living in France and cell phone calling was super expensive, so people used TEXT messages a lot - on those old Nokia phones. It was fun. But when I came back to the states for a visit and was texting my boyfriend at the time, my younger sisters were making fun of me because I was spending time doing something so pointless. Ha! Within a couple of years, texting hit the US too and now no one ever has to talk to anyone with their actual voice ever again. Yay! And they became way more addicted than I ever was.
I had a very bad texting phase too... when I was 16 I got my first phone and would text all the time! My phone bill was $700 once because of all the texts I sent! Crazy to think we used to have to pay for each individual text, haha.
As far as the state of the market I sense things stabilizing which is a good thing! We could start to see exponential growth in the next couple weeks if it keeps up like this.... :)
OMG! I did that once with long distance calling. Once is enough, eh?
Its very difficult to predict the future in this crypto world, But I see the future in very positive way xD
Loved this post,
It’s true in a hundred years or so, people will look back at crypto and make fun of people who rejected it in the first place, like what we are doing to the people of the past.
Anything that changes the world goes through a lot of struggle because the world isn’t ready for that change, but those changes break down all expectations and perform far better than expected that’s why people remember them. However, there were also countless technological advancements that also didn’t make because they were either too bizarre or way ahead of their time.
Yes, all good points @moarafatshow! I agree :)
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvote this reply.
Damn evolution can't keep up with the world and we get scared over things for no reason. Stupid brain.
But about predicting future, I think we will see a large decline with commercial TV and increasing consumption programs from the Internet which is already happening. Today's generation aren't anymore ready (me included) to trade their attention for stupid things (commercials) in order to watch the programs which aren't even that good most of the time. Sooner or later it has to evolve or it'll die.
Obviously, crypto will shake up the world too, for the better. But we all know that already in Steemit, haha.