It is said that the story of diamond mining in South Africa began with someone who inadvertently kicked a large stone in the dusty ground, only to discover that said stone was in fact a huge diamond. This started a rush of speculators hoping to make a fast buck. For many of today’s speculators, blockchain is that dusty diamond. They stake their claims and reach into their pockets – or most likely try to convince others to reach into theirs – to start mining on the promise that they will deliver gemstones.
As well as the excitement associated with a new technology, be it the internet, smart phones, Virtual Reality or Artificial Intelligence, the question which tends to rear its head very early on is whether there is money to be made.
Perhaps the most high-profile example of this was the ‘Dotcom Bubble’ at the turn of this century.
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