Blockchain technology has been touted as the biggest thing to happen since the invention of the internet. The technology has potential to revolutionize different sectors, including healthcare, finance, education, mining and others. However, the adoption of this technology has been significantly slower than its proponents would wish, and there are a number of reasons to explain this slow process. We explore a few in the discussion below.

High upfront costs

The cost of establishing a blockchain system is steep to say the least, and only the most committed of institutional entities have the deep pockets to finance such an undertaking. This could explain why many entities, including banks and…

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