"Blockchain and Web 3 is one of the fastest growing technologies."

Pause for a second. Is it?

When we compare blockchain technology to other emerging technologies over the past few years, can we genuinely claim it's one of the fastest-growing? Most of its use cases remain unexplored, even 15 years after its inception. Despite the innovation of Blockchain, it hasn't achieved widespread traction beyond the crypto community.

According to a 2023 survey by Coinbase, 82% of respondents are aware of cryptocurrency, and 66% have heard of at least one specific Web 3 use case. However, basic awareness doesn't equate to actual usage. Social media has played a crucial role in spreading awareness about Web 3, yet many still lack substantial knowledge of its applications. And to sincerely gauge the growth of blockchain technology, we should look at the diversity of its use cases not just the hype surrounding it. The truth is, despite its immense potential, blockchain remains underutilized and unrecognized in many sectors.

The blockchain space is unique in its untapped potential. While people discuss mass adoption, much remains unexplored. In many industries, true mass adoption only occurs after vast possibilities of things have been explored. The blockchain industry still has significant room for growth beyond its current state.

Consider fashion: Digital certificates could be issued for clothing. High-end fashion brands could use blockchain to verify the authenticity and ownership history of luxury items, helping them to combat counterfeit goods.

In marketing, blockchain could track hits, impressions, ad types, and other data ideal for ledger-based records.

Patent records represent another opportunity. Currently, this industry is heavily centralized, but blockchain could improve patents, registrations, and IP management, similar to how it transformed finance after 2009.

In scientific research, blockchain could provide immutable records of experiments, hypotheses, and theories, preserving the integrity of scientific history.

For health data management, blockchain could securely store fitness tracker and health app data (like steps, heart rate, sleep patterns), allowing individuals to grant temporary access to doctors or researchers, ensuring that their health data is private, immutable, and accessible to only those you trust.

Blockchain could even enhance historical records, police events, and court records, making them transparent and immutable. Real-time recording of events during wars and police actions could provide accurate statistical data and accountability.

Integrating blockchain with IoT holds promise. IoT devices could handle processes like shopping through blockchain-signed transactions or optimize smart city utilities by coordinating water and electricity usage.

In smart cities, blockchain-based systems could streamline public transport payments, allowing users to pay for buses, subways, bike shares, and tolls with a single digital wallet, enhancing transparency and reconciliation.

The use cases of blockchain are vast, yet if we want to experience true mass adoption, we must explore Blockchain beyond finance. Blockchain needs to become as integral to our lives as electricity. Only then will true mass adoption be achieved. We have a long way to go, and it will take visionary explorers to lead us there.