A brand new paper prepared by Mariana de la Roche (IOTA& INATBA) and Asa Dahlborn (IOTA) with comments of Mar Meneses (Co-Chair of INATBA Education Working Group) and the support of members of the Education Working Group of INATBA, the EU Blockchain Observatory and Forum and Blockchain Bundesverband, has just been published, providing a thorough overview of the most popular misconceptions regarding blockchain technology.
Addressing misconceptions in the blockchain and Distributed Ledger Technology (DLT) space is vital to achieve global scalability, allowing consumers and users to have informed decision-making processes, while also promoting trust and effective risk management. Individuals, businesses, and policymakers must understand these technologies to make strategic decisions, whether for investing, implementing a solution, or developing regulations.
Misconceptions often come from a combination of incomplete or simplified information, miscommunication, inappropriate generaliσations, confirmation bias, and lack of contextual understanding. In complex subjects, such as blockchain the simplification of details for easier comprehension can unintentionally lead to partial or incorrect understanding. Misconceptions can lead to mistrust or misuse, hindering widespread adoption. Therefore, dispelling misconceptions ensures a safer and more effective use of these innovative technologies while also generating more trust and understanding in the general population, which can later on help to increase adoption worldwide.
Recognising the prevalence of misconceptions in the blockchain and DLT space, we are committed to advocate for blockchain education as it is important to help users, developers, businesses, and policymakers better understand and effectively leverage the potential of DLT, ultimately fostering a safer and more innovative blockchain ecosystem.
This paper presents and addresses some of the most common misconceptions about blockchain. You can read and download the paper here.