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The Cryptocurrency Industry: Overfilled with Jargon?

The Cryptocurrency Industry: Overfilled with Jargon?

 

          Ronny Chieng showed up at the Ethereal Conference in New York this Saturday with something to say about how Blockchain professionals present themselves and their industry, overall.

 

          If you do not already know who Ronny Chieng is, he’s one of the co-stars on Trevor Noah’s, “The Daily Show,” which airs every week night at 11pm, Eastern Standard Time. Ever since Jon Stewart was its host, the Daily Show has been known for intelligently lampooning public figures, without fear of any recourse.

 

          Now due to Ronny Chieng’s appearance on Saturday, it appears that one of “The Daily Show’s” latest targets might be the entire Blockchain industry. Inside of this discussion, one of his key points seemed to be that Blockchain professionals believe that Blockchain technology can solve anything. On top of this, Chieng pointed out that those who work in the space seem to use as much jargon as possible that was invented as recently as possible, to appear knowledgable when they really know nothing about what the Blockchain does.

 

          A final point that Chieng made was that the volatility of this market is a common signal of a bubble. While again, he appeared to be joking in this case, it could be argued that we don’t take the public perception of Crypto seriously enough at this point. Chieng concluded by basically saying that there’s no way to know yet whether the Blockchain is truly useful or merely a passing phase.

 

          All in all, yes, on the surface, this was just another comedy sketch, but it does raise some interesting questions. Are we, in the Blockchain industry, over-representing just how much we know about the technology that we work with? Are we making promises that we can’t keep? Are we really working hard to boil Blockchain and Crypto-related info down to a level that the average person can understand?

 

          As an industry, we should begin to answer these questions by framing what we do in the eyes of the average person. In other words, with the majority of Crypto-news being heavily jargonized, explaining all future developments at a more universal level has become more important than ever.

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