The creator of Dogecoin, Justin Palmer, in a recent tweet, on 26th of February, said that blockchain technology is nothing compared to the advent of the internet. Though this kind of comparison between the blockchain technology and the internet has become common with the blockchain tech enthusiasts often referring it to as the future of the tech world. But Palmer, the creator of the 26th rated cryptocurrency by market cap disagreed with this and in a recent tweet post said,
“It’s plainly dishonest to liken blockchain technology to the advent of the internet, which after 10 years had obvious product-market fit and user demand.”
The assertion made by Palmer may be right if he only traces the history of the internet back to the beginning of the Hypertext Transfer Protocol or AOL days. However, following this historical timeline of the internet evolution indicates that blockchain technology is not lagging as Palmer posited.
Palmer also commented on the status of bitcoin usage and said,
“Meanwhile, after 10 years Bitcoin doesn’t have a real use case outside of illegal activity, gambling or supposedly being useful if we enter some Mad Max-like dystopia.”
Last year, a report from the DEA’s office indicated that cryptocurrency had witnessed a massive surge in use for legal activities. It was mentioned that crypto use for speculative investment, store of value and payment seems to have taken the centre stage of the industry. The rise in the popularity of cryptocurrencies, especially bitcoins has seen quite a quick and steady hike. Moreover, if Palmer feels that the relevance and use of blockchain technology and cryptocurrencies are not of any importance or consequence, then his very own creation, the dogecoin will also fall under the same category. If Bitcoin is a joke to him, then Dogecoin, then one can only wonder what Dogecoin, the coin launched a “joke coin” with a Shiba Inu ‘Doge’ as its logo is.