Unless you have been living under a rock in the past months, the fervent and loud, but vague debates of web3.0 have been causing quite a scene on the Internet. Those tiny murmurs a few months ago have turned into an avalanche of blares and booms, with both believers and detractors crying out their facts and hyperboles.
Within the web3.0, decentralized storage technologies have been rising to a crescendo. So many new names have come forth into the decentralized storage space, most backed by blockchain and incentivized by cryptocurrencies and is putting the 19th century California Gold Rush to shame.
At present, the decentralized storage market segment is fluid, very vibrant and very volatile. Being the perennial storage guy that I am, I would very much like the decentralized storage to be sustainably successful but first, it has to make sense. Logic must prevail before confidence follows.
Classic “Crossing the Chasm”
To understand this decentralization storage chaos, we must understand where it is now, and where it is going. History never forgets to teach us of the past to be intelligible in the fast approaching future.
I look to this situation as a classic crossing the chasm case. This Crossing the Chasm concept was depicted in Geoffrey Moore’s 1991 book of the same name. In his book, he spoke well about the Technology Adoption Cycle that classifies and demonstrates the different demographics and psychological progression (and regression) of how a technology is taken to mainstream.
As a new technology enters the market, the adoption is often fueled by the innovators, the testers, the crazy ones. It progresses and the early adopters set in. Here we get the believers, the fanatics, the cults that push the envelope a bit further, going against the institutions and the conventions. This, which is obvious, describes the early adopter stage of the decentralized storage today.
Like all technologies, it has to go mainstream to be profitable and to get there, its value to the masses must be well defined to be accepted. This is the market segment that decentralized storage must move to, to the early majority stage. But there is a gap, rightly pointed out and well defined by Geoffrey Moore. The “Chasm“. [ Note: To read about why the chasm, read this article ].
So how will decentralized storage cross the chasm to the majority of the market?