The theory of innovation called diffusion of innovation by Eurett Rogers explains how communication is communicated over time through different channels to members of a social system. So As time passes the society uses different sources to communicate messages, each of these sources are much more technological over time. At first we started off by sending pigeons with a message or smoke signals then letters, then telegraphs, then phones, computers, and now cellphones and texting. Each time faster more immediate and direct.
In this article we can appreciate how technology helps with innovation. Bitcoins is an innovative invention itself, it is not used to communicate but to innovate which can help for communication in some way. With the diffusion of innovation we study how communication changes over time because so does technology and in this case we can see how the method of money usage has also changed and developed even more now with bitcoins. the interesting part is that the innovation helps for more innovation, so it won’t stay paused, it will help for more and more new ideas to develop and enter the market.
So just as communication is communicated differently over time because of technology so will this source of innovation, it is an innovative idea itself that will help create more and more innovation and this is where the theory of diffusion of innovation comes in, which explains how innovation changes as technology develops and in this case innovation such as Bitcoins helps to create and develop more innovation as well. And obviously Bitcoins need from communication in order to defuse, develop, and help innovate some more. And also as communication mediums progress, so does innovation.
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