Ethereum co-founder Vitalik Buterin believes the days of explosive growth in the blockchain industry are waning, now that the average person has some awareness of cryptocurrencies, especially bitcoin.
"The blockchain space is getting to the point where there's a ceiling in sight," Buterin told Bloomberg at an Ethereum and blockchain conference in Hong Kong.
"If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn't an opportunity for yet another 1,000-times growth in anything in the space anymore."
"[We have to] go from just people being 'interested' to real applications of real economic activity," Buterin said.
Blockchain technology is already being used in some industries, notably for supply-chain management.
Samsung Electronics — the world's largest manufacturer of semiconductors and smartphones — is considering using a blockchain ledger system to track its global shipments in a move that could reduce its shipping costs by 20 percent, as the Inquisitr previously reported.