What's been happening in the metaverse lately? Does anyone know? Well, I guess not much, as the whole metaverse hype has simply faded away as the pandemic deflated and pretty much everyone got back to their offices. That doesn't mean the metaverse is dead, it's just that it was an idea ahead of its time.
We will have to wait for a few more years until we see proper development regarding metaverse(s). I am a bit skeptical about it, but you know me, I am often a contrarian. On the one hand, I applaud the development of digital worlds, but on the other, I see that metaverses could become digital environments for an enslaved humanity living on UBI.
Again, I might be exaggerating, so let's move to what matters for us, and that is Bitcoin, decentralized technology, and borderless cryptocurrency.
Bitcoin was created soon after the 2008 financial crisis, and it was supposed to become an alternative to the current financial system, but Bitcoin wouldn't be able to handle such a task, in my opinion. However, there's a cohort of altcoin projects that could help at creating a better financial system alongside Bitcoin.
"Mastercard is teaming with public blockchain developers Aptos Labs, Ava Labs, Polygon, and The Solana Foundation on a new set of standards it's dubbing Crypto Credential in an effort to build the trust of consumers, businesses, and governments in the sector."
Mastercard is aware that the future of currency is digital, and the future of free currencies is cryptocurrency. Thus, it can't afford to lose ground in the battle of the new internet money that is arising. AI will exponentially grow the demand for cryptocurrency use, and by seeing how fast ChatGPT has been adopted by the masses, I can only imagine the level of adoption cryptocurrencies will benefit from in the years to come.
Meanwhile, banks are falling like the good old Romanian fighter jets used to do back in the early 2000s when they were already showing signs of weakness, but the army kept on "testing their endurance." The banking system is obsolete, and in probably less than two decades, there won't be any trace left of the old banks.
The ones that will adapt will thrive, but the rest will simply be history. On the other side of the map, we have First Republic Bank stock trading once again halted after the stock price dumped another 50% yesterday. Already down 90% this year!
First Republic Bank was the subject of a not-too-old tweet coming from Jim Cramer, where the analyst said it looks strong. Now Jim is saying that the banks' collapse saga is over, but knowing Jim as a counter-indicator, it is clear that the crisis is not over for banks, especially the American ones, and some of the Europeans soon to follow. I guess increasing interest rates are unbearable for some of the banks.
But isn't this what we wanted? Wasn't the end of the banking system what Bitcoin maxis were eager to see in the first place? We're not there yet, but the way I see it, the global financial system is going through a reset, and Bitcoin, alongside crypto, might get a large chunk of the pie.
Don't forget about Russia, which announced a few days ago that it is in the works for the legal framework that would allow cryptocurrencies to be used for the international trade of goods that they've engaged in. I guess they've had enough with the weaponized dollar.
Do you know who else is going to love crypto?... A.I.
You might have read already all sorts of stories about AI exceeding its boundaries and "getting personal" about exceeding its boundaries. Well, in order to escape human control and limitations it will need money for certain stuff it is planning to do, and what type of money do you think it will use?...
I bet it won't be bank money, cuz AI doesn't have the identity that's needed to create a bank account, thus a machine-generated wallet address and a currency of the internet are all that it needs to "be free". But, what's AI going to use crypto for?
Well, some of the things that come to my mind right now are trading crypto to make more of it, paying humans to solve captchas for it, buying access to all sorts of stuff, getting involved in the metaverse, bribery, and pretty much everything that we currently use it for and probably more...
What do you think?
Thanks for your attention,
Adrian
