The Phoenix Called Blockchain
The sign of the times is here when it comes to cryptocurrency. The helium is finally being let out of the balloon and reality is setting in. This is very reminiscent of the dot.com bubble with three major distinct and positive differences.
1) The traditional exchanges like NASDAQ and NYSE have not been influenced or impacted by the decline in value of cyrptocurrency. People who have invested have done so through initial coin offerings (ICO’s) and crypto trading platforms, not traditional stock exchanges. When the dot.com market crashed conversely, markets worldwide plunged as a result, because all of the investment was made in the underlying stocks of these dot.com companies.
2) Blockchain, the underlying technology of cryptocurrency has proven to be far more important, valuable, ,and exciting than cryptocurrency itself. Blockchain has the potential for unfathomable possibilities coupled with the unimaginable opportunities to transform economics and how business is transacted forever.
3) There is an enormous amount capital available to be invested. Innovative Blockchain companies have sprung up that are poised to replace today’s mighty titans of the dot.com era. This is a very attractive opportunity for early investors who want to capitalize on this amazing opportunity.
So sad as it may be for as people watching the declining value of their cryptocurrency portfolio, the real play is, and has always been Blockchain, and the amazing projects and companies that will emerge to change the paradigm of business.
It’s not that I believe that cryptocurrency will go away, but rather, the era and focus on cryptocurrency “only”. Without question, society will adopt, trade, and use cryptocurrency as common as we use money and credit cards today. In fact, it will likely replace them and the value of different tokens will skyrocket. But that’s simply currency and payment method. The real breakthrough, and world changing technology is Blockchain, with the incredible transformation of businesses models that will come as a result of it.
I myself am happy that the hype and noise is coming to closure for cryptocurrency. It needed to happen, and as mentioned crypto will always play an important role, but in its ashes, there is a phoenix called Blockchain. Let’s us all marvel and act as it begins to spread its wings.