The new technologies come into our world all the time, changing and supplementing it.
When we speak about cryptocurrency, we usually mean bitcoin, but this one was the first coin only. First generation of coins.
The essence of bitcoin idea is decentralization and emission independence based on blockchain and mining of new blocks available for everyone.
The second generation is represented by smart contracts and various anonymity tools.
Sure it’s hardly possible that one of the coins of the first or second generation will become the demanded tool used by hundreds of millions of people worldwide every day. Just like Netscape navigator, Yahoo or altavista tool didn’t manage to become that kind of thing. But the coins of the third generation being a united set of various developments quite might be able to do this. Maybe the byteball or icon would be this tool, just like Google and Amazon did.
Basically, cryptocurrency can be compared to the Internet. At first only the few people used him, it was really slow, inconvenient and not really accessible, but now hundreds of millions of people use it every second. It’s just the way progress works. Really fast and relentless.
The current economic model based on the real estate cost, futures and government bonds (I am not an economist, so I hope you will excuse me all these frivolities) is now experiencing a long crisis. The world is in need for a new economic paradigm – more honest and more effective. Everything in the world is being improved and modernized, except the economic model. I could tell you in detail about problems of the global market, globalization in general, geopolitical collisions, price wars and other, but I’m going to tell you only one thing that is, in my opinion, the current model has become outdated and is about to be changed anyway. Because someday the drawn assets are going to be slightly more than 100%.
We speak about blockchain a lot, and decentralization becomes more and more seldom theme of ours. And that is a bad thing to do. The Western world has joined the era of abundance with a great confidence, getting from practice of boundless consumption to self-restriction philosophy. The number of the educated and conscious people is now higher than ever. And the person who has realized that he can identify himself anyhow with an extraordinary force demands respect for himself and freedom of his choice. The current system of assurance – buyer – regulator (witness) – seller now looks absolutely unattractive. Basically now this an excess parasitic link imposed from the outside. Uber, Airbnb, car-sharing services, philosophy of refusal of a large number of property, from constancy of the residence, from national self-identification – all these are sprouts of the new society where there’s going to be no place to the regulator, but there will be a place for global peer-to-peer. In other words, cryptocurrency creates the social elevator – you can create the idea, get the financing, implement it and take a place among the world’s elite. And you don’t need to attend Oxford, have wealthy parents and the corresponding contacts. The cryptocurrency in global sense is a dream of any super activist. The dream that can come true.
Sure there are also obvious counterarguments. The first is about stratification of society. Yes, not everyone of us is wealthy, not everyone is rich. But the average level of intelligence has significantly grown. Many marketing tricks don’t work on the impulsive demand anymore. Now everybody has this or that much money. And people’ve started to count their money and to understand that transition from tripartite model to peer-to-peer promises some obvious benefit. The second thing is that banks will never allow to develop the system designed to destroy them. I guess the Russian tsar Nikolay didn’t think that the bigger piece of the broken-up RSDRP will once seize power in all his huge country. And this was not about revolution, but pro-expiration of historical process when readiness for acceptance of new system was extremely big. The question is, how big it is now? Is it really extraordinary? That is a big question, actually. The third thing is about Third World countries. Of course, there are countries not really affected by the civilization globalization process. But I also remember that 96% of the scientists existing for all the history of mankind are alive right now. Also it’s really important to understand how fast is this progress. It’s really fast and relentless.
So, let me get this straight. Yes, right now cryptocurrencies are mostly the speculation tool. But the flow of funds allows to develop the real projects, too – for example, byteball, eos, icon – and someday we will wake in the era of the decentralized self-regulating economy. And this day is closer than it may seem now. So you better HODL!