Cryptocurrency is at a very interesting point. We see infrastructure going into place which means we are getting near the time when some significant building is taking place.
This is where the fun really begins.
For that reason, it is important to remember, what we are dealing with here, is technology. Thus, it will follow other technological trends of the past.
When we are dealing with something so revolutionary, it is vital to recall that things happen in stages. It does not occur overnight. However, over time, we see major advancements.
This is the path cryptocurrency and all the development around it will take.
Duplicate What We Know
We are starting to see the foundation of Web 3.0 going in place. This is going to radically change the lives of billions of people around the world. How it all will unfold remains to be seen. Nevertheless, we can already see some of the earlier evolutions of other technologies.
Stage One is always to operate based upon existing reference points. For this reasons, we copy what is already in place. This is, for example, what we are seeing with Leofinance and Threads. The idea here is not to reinvent the wheel. Twitter is very popular so let us just copy it.
That is what the development team is focused upon. Right now, with a MVP out, it is difficult to see. That said, over the next couple months, we are going to see the evolution of the function, along with the moving towards a standalone application.
Between now and then, there will be opportunities to start improving upon it. The tokenization aspect will instantly add to it. We also see the account ownership that is standard on Hive also coming into play.
Build Out Beyond The Wildest Dreams
When the first personal computer came out, I recall people thinking it was basically an electronic typewriter. It produced documents the same way as a typewriter. The difference is they were saved. This made editing a lot easier.
Naturally, 40 years later, we know things are a lot different. We walk around with computers in our pocket that do a lot more than produce documents. If we tried to tell that to people of that era, their minds would have been blown.
With Web 3.0, we are going to see the same thing. Whatever evolved over the next decade, it is far beyond what most of us are imaging now. There is going to be a lot of innovation but not until there is a lot of copying taking place.
After all, revolutions are always evolutionary in nature. The true Web 2.5 might well be the copying of Web 2.0 applications but putting them on blockchains. From there, the major innovation can occur, which will really usher in a new era of digital existence.
Cryptocurrency In All New Ideas
They key, going forward, is likely to be that cryptocurrency is integrated into every new idea. Whatever the experimentation takes us, it is a safe bet that developers are going to work cryptocurrency into the model. Personally, I believe it is part of the digital world going forward.
Many try to call it a new asset class. Here again, I think it is much larger than that. Cryptocurrency is going to penetrate every asset class. Anything that is in digital form is subject to some aspect of this industry. It might be the ownership mechanism of NFTs or perhaps the new business structure of DAOs. Whatever it is, this is going to be a part of most things as we move through this decade.
With businesses, it will be a normal part of the process. Today, most entities have a website. They do not debate the decision. If in business, you most likely need a website.
How long until we face the time when ever business needs a token? There is going to be a day when it won't even be debated. It will be par for the course.
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