Practice what you preach

Why sticking to your dreams is not stupid

CPAY
CPAY
Dec 31, 2019 · 3 min read
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At the end of the decade social media space is filled with the lists of people and companies’ achievements and failures. In 10 years the industry went from being non-existent to a serious force in the world. From being a utopia and a joke to something real.

Bitcoin has been declared dead by the press more times than any other invention, but as we enter 2020 it is still here, regardless of its price, the large institutions and regulations. Because it is just an idea wrapped in a technology.

In his original bitcoin whitepaper Satoshi has proposed a Peer-to-Peer Electronic Cash System:

“a purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution”.

7 years ago Cryptopay started as a Bitcoin wallet that would also serve as a gateway between two worlds. We were not the only ones, but we were among the first pioneers. Back in the days everything about cryptocurrency sounded too crazy or too optimistic.

And we all learned that sometimes crazy and optimistic is not necessarily impossible.

Regulators have been working hard to finally contain cryptocurrencies. 5th anti-money laundering directive and a proposed FATFs travel rules will definitely be game-changers in the coming year. It will put pressure on established players making it even harder to keep the promise of the truly decentralised finance.

Crypto industry market leaders came all the way from serving misfits to becoming just another casino called BTC/USD. Many could not withstand the pressure and now are only a shadow of the free spirit they used to be. Maturing is good, but giving up on values as grown-ups give up on their childhood dreams is sad. Crypto industry used to be a community that inspired. Should we just assume that it is dead? Should we give up on solving the puzzle or should we at least try to find the missing pieces?

Good news is that while those crypto industry market leaders fail to protect the original values due to their inability to have controversial disputes with regulators, the idea of decentralisation hasn’t vanished — it shifted. From the mainstream back to where it came from — to innovators, this time — De-Fi. A year ago, we couldn’t have imagined that stablecoins could be decentralised. Or lending can be done without giving up the custody of your assets. DAOs are bringing voting and decision making on-chain, thus giving social science the right tools and making the possibility to run organisations of any scale in a decentralised way.

It looks like the first-wave crypto startups got distracted by 2017 hype and celebrated the victory of the new finance too early. You can’t build a new world with just one technology or with technology only. We need collaboration.

The innovation happens not during panels with local regulator but in honest and sometimes controversial disputes between like-minded people.

Hundreds of improvements are in the pipeline and your voice is what matters.

Happy New Year
George @ Cryptopay

The CPAY Blog

News and Opinions on Bitcoin & Blockchain

CPAY

Written by

CPAY

Central Entry Point to a Decentralised World https://cpayfoundation.com/

The CPAY Blog

News and Opinions on Bitcoin & Blockchain

CPAY

Written by

CPAY

Central Entry Point to a Decentralised World https://cpayfoundation.com/

The CPAY Blog

News and Opinions on Bitcoin & Blockchain

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