In the crypto space, many people talk about the rising amount of coins. There is still a lot of negative talk about ALT coins. Chats all over are plagued with “thats a scam” “alts are a scam” and so on. Most of these claims come from a place of intellectual laziness from how I see it, heres why.
To understand what the cryptocurrency is we need to understand how the progression of tech works.
Incrementally, communication methods within humanity have ramped up as technology has progressed. Through Morse code we got the telephone. The telephone gave way to the internet. The internet gave way to VOIP and now with higher bandwidth we have Voice and video over IP and IPTV.
We need to think if this under a broader scope. Just as the internet allowed us to communicate better, it will allow us to transact better. Not only this, but it will allow our economy to work better in general.
Many of the coins we see today in the market may disappear some day, I can agree to that. But this does not mean that there will not be thousands or even tens of thousand coins. The reasoning for this is simply because this market is not only a market for “coins” that can be used to transact. This is a market that can facilitate any asset that can be tokenized.
In the height of 2017 we seen companies building their entire business model onchain. There will be a day where we see companies publicly tokenizing their corporation onchain just like they do in the traditional markets with stocks. The difference being, doing it onchain is by far more efficient. Not only is it more efficient, it allows financial inclusion the world over.
The united states alone has the NYSE and the NASQAQ. The NYSE having a market cap of 22,923 billion USD with 2,400 listings and the NASDAQ having a market cap of 10,857 and 3,500 listings respectively.
This two markets, one country, let that sink in. The cryptocurrency market is a global market that can allow anyone anywhere to participate in any corporation they wish if they choose to. It only boasts 5,101 cryptocurrencies as of the moment which is nothing in the grand scheme of things. The total market cap of cryptocurrency at the moment of writing is under 300 billion which again, is nothing. This market is in its infancy, and now is the time to get in.
This is the next step in the evolution and advancement of the human species. Just as the telephone allowed us to communicate more efficiently then sending a letter through the mail. Just as the internet allowed us to communicate faster, easier and cheaper then long distance phone calls through the operator. Cryptocurrency will allow us to not only transact but also publicly trade and invest faster, easier, cheaper with more inclusion and more efficiency than ever, the world over.
This post was written by BlockAdvisor