This quote embodies the widespread “disease” of our society which is the inability to accept and implement worthy technologies due to society’s inability to change and take risk. One might find it surprising to hear that automobiles were not widely accepted for decades, commercial flights took over a century to become mainstream, and trains were originally thought to be ridiculous as compared to month long expeditions by foot or by ship. The modern person would look down upon society in “those days” and think our society today is far better at accepting technology and pushing it forward into fruition. However, we are equally as blind.
There is no denying that our society today is considered to be advanced; however, when it comes to innovation, that is only a relative statement. Advancement is based on what has come before. What has come before and what is continuous in our modern day is our blindness to new technology that is better and far more efficient than what has come before. The true cost of this issue is that our advancement into the future, as it pertains to technology, is merely at a constant pace rather than at an accelerated one. The ability to accept technology quicker would allow us to move forward at a faster rate. Think about what cars and planes have allowed us to do in terms of research and accessibility. Where would we be now, as a society, if they had been accepted decades earlier? The term “advanced society” would take on a whole new meaning.
Through the years we been clouded into thinking that we promote change, when really, in technology, we run from it. It may be hard to see now, but our inability to accept and implement new technology inhibits technological innovation and societal advancement. The respective governing bodies in the technology fields should promote implementation of new technology and establish laws that protect new innovations from mainstream exclusion.
History
Ultra-Modern
Over the past few centuries, we have been introduced to advancements that were previously unthinkable. Inventions like the television, oven, and even the lightbulb are so commonplace that it is hard to imagine what it was like without them and what that transition was like. Look at an ultra-modern example: the smartphone. There is this oddly accepted false fact that the first smartphone was created in 2007 and it was called the iPhone 1. After its unveiling, everyone purchased it and since then the smartphone has taken the world by storm. However, it may be surprising to find out that the first smartphone was actually created in 1994 by IBM. This was similar to new smartphones in that it could send calls and receive emails and faxes. It also featured alerts and other amenities like a calendar. Not only did it take over a decade before the smartphone hit the mainstream, but even the king of smartphones, the iPhone, was not widely accepted in its primal
days.
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Figure 1 shows that iPhone sales had not even reached twenty million until almost four years after the iPhone release. That is compared to recent sales that gross well over triple that. This was a result of consumer skepticism and fear that smartphones, a new and different technology, would not integrate with society. Again, it is amazing to think that a technology that is so crucial to our everyday lives was scoffed at in the beginning. The true cost lies in how much further we could be in the present day if we had taken this new tech head on and exploited it to its fullest potential.
“Old Tech”
“The time will come when people will travel in stages moved by steam engines from one city to another, almost as fast as birds can fly, 15 or 20 miles an hour…. A carriage will start from Washington in the morning, the passengers will breakfast at Baltimore, dine at Philadelphia, and sup in New York the same day.”
Oliver Evans, 1800.
It is somewhat funny to think that even trains, the first vehicle to make direct trips across the country, was not always widely accepted. We seldom use trains today, as cars and air travel have become increasingly more viable and efficient. However back in the early 1800’s many visionaries such as Cornelius Vanderbilt and others found it hard to convince the public of the train’s legitimacy. Trains also brought about various other aspects of our society. Notably “The railroads gave us standardized time zones” (Maranzani). This is another example of an accelerating technology. The train allowed humans to not only ship and travel, but it brought about a wealth of information and experience of different culture with its ability to deliver people and news across the country. This brought about development of newfound areas and literally connected the entire USA. Even though it cut travel times from months to days, many people still despised the idea of the train in the early days.
Right Infront Of Us
Hindsight is always 20/20, so it is easy to sit and critique our blindness in the past and think of what could have been. Therefore, we must look at what sits in front of us today and how it could be extremely useful to our practices and society as a whole. There are heavy projected increases the in technology fields such as “Employment of computer and information research scientists is projected to grow 16 percent from 2018 to 2028” (BLS). Therefore, software-based innovations will most likely be at an all-time high. So, what technology are we overlooking today.
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One of the most major overlooked cases is in the financial system. According to business insider, over five trillion dollars are transferred every single day (Scutt). However, the transfers of those funds take between three to five days with the current system in place called Swift. This is a system of banks that facilitate transactions in a very complex way. This system was created in 1973 and has since been the standard (Seth). However, there is a new company called Ripple Labs Inc. that has come out with a new technology that increases the efficiency and security of these payments. This payment system is based on a new, not widely accepted, technology called blockchain. This is another way to facilitate transfer of information and value, but it does it in seconds. The transfer is distributed across thousands to millions of computers which leaves no single source liable for the transfer. This distribution makes this system robust and far more efficient than the current transfer system. As seen in figure 2, XRP, which is Ripple Lab’s new technology, transfers in just four seconds as compared to the current system’s three to five days.
This new technology has clearly been tested and is amazing to say the least. It has the ability to make billions of transactions in minimal time and could even bring us our paychecks in a few seconds rather than days. Many payment services now offer instant payment, but that is not with this technology. They actually rely on liabilities and some faith that the money will make it to its destination which is why only so much can be “instant deposited”. With this new system, which came out in 2014, the money would be transferred and secured in seconds.
Despite the major ability of this technology to improve our lives and extremely enhance our financial system, it has only been beta tested and not fully implemented. This is due to two major reasons. First, blockchain technology has come under fire due to the fact that Bitcoin is based on blockchain and has been a currency for crime. However, it is unfair that this extends to such technology as Ripple. That would be like saying the U.S. dollar is bad because it is used as a currency for crime. The second factor is businesses blocking this technology. Since over five trillion dollars are transferred every day, there is a lot of established infrastructure and special interests that depend on these transfers to make money. Therefore, they have lobbied law makers and bonded together with banks and other institutions to block this technology from taking over the transactions.
This is extremely unfair and destructive to progress. The monopolistic tendencies of these financial corporations are seemingly unlawful and it is killing an inconceivable amount of opportunity. This technology is similar to that of the train in that it connects and facilitates. Not only does it serve its purpose to increase transaction speed, but this increase in speed could have ripple effects that allow humanity to allocate time and efforts to other causes such as increased stock efficiency and reporting transparency.