Companies looking to use Blockchain technology are enjoying lower barriers to entry, thanks to the creation of effective software tools.
Despite industry interest in Blockchain, adoption is still relatively low. This is partially due to the newness of the technology. At present, for example, there are very few Blockchain developers and they are in high demand.
Lowering of entry barriers
A multifaceted approach to adoption might be a good thing, and new and easy-to-use tooling for Blockchain and its applications could be beneficial to the ecosystem. Today, there are tools that allow users to make their own Blockchain by simply tweaking a few parameters, launch their own colored coins, and so forth.
Such tools help to lower the barriers to entry, allowing new players to enter the Blockchain space, hopefully bringing with them fresh ideas and innovation.
Human capital deficiency
Human capital is in constant demand and low supply in the Blockchain industry. Whether it be crypto-economics, DApp development or simply general knowledge of the space, there is simply a lack of talent to meet the growing demand for all things Blockchain.
In terms of development, while the most innovative platforms and apps are not likely to come from an ‘all-in-one’ tool-set, the barriers of entry for new developers is being lowered each day. Ethereum continues to foster a culture of development creativity, hosting world-class hackathons and offering some truly well-rounded DApp tools.
Other platforms are bringing the industry a software package of development tools that includes a Blockchain generator, community collaboration tools, and independent chain-to-chain communication to create vast networks of Blockchain applications. Such developments make it possible for regular users without any exceptional coding skills to create specific Blockchains to serve their purposes.
Solutions are coming, however more effort is still needed for the on-boarding of new talent, since most of the heavy lifting in the industry is done by a relatively small set of innovators.
Development tools alone are not enough
Some claim that Blockchain technology will gain more acceptance when it is localized to the average user. However, a full stack development platform alone will not help the average computer user because the words and programs will still look too foreign to them.
In addition to these platforms, there needs to be educational institutions for hands-on learning that show how to put together the components of a Blockchain. Blockchain platforms need to partner with educational institutions to set up Blockchain programs where anyone can learn about the cryptoworld and be able to put it to use.
Fortunately there has been progress in this area, particularly with respect to MIT’s financial support of Bitcoin and Arizona State University’s partnership with the digital currency Dash.