Cryptocurrency is the first major use case for blockchain. These two technologies are changing the world. There are going to be few industries that are not affected by the impact these will create over the next half decade.
As the industry grows, more people are finding the value that is being derived from this. At the same time, massive experimentation is occurring. Innovators are playing with different business structures, monetary programs, and ways of interacting.
Essentially, everything is up for discussion.
While Wall Street and Venture Capitalists make the headlines, there is an undercurrent that is going to affect every human being on the planet. This is something that is painful obvious yet is overlook.
It is the tokenization of everything.
Here we see a paradigm shift that is going to the foundation of society.
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A Piece Of The "American Dream"
Cryptocurrency is bringing the American Dream to life, whatever that might actually be. Even without a clear definition, we know it deals with opportunity and ownership. People can be involved and move ahead.
Tokenization is a process that is completely revamping the ownership idea. Whereas most were excluded before, it suddenly becomes inclusive. Networks are now permissionless. People can join while getting a stake through the native token. This provides them with ownership.
Of course, to fully appreciate this, one needs to adopt the ownership mindset. It is a transition away from that of employee to one who is responsible.
It opens up the door to enormous possibilities.
A Rapidly Growing Pie
Having an ownership stake in vital due to the fact this pie is getting bigger. Since this operates in the digital world, there are few limitations to how big it can get. We are dealing with bits as opposed to atoms.
This means we are dealing with issues such as processing power, bandwidth and storage capacity. All of these are expanding are rate much faster than seen in the physical realm.
Its is easy to see the financial component in all of this. At this time, it is primarily focused upon speculation and market movements. This will change as deeper levels of innovation start to surface.
We have a transformation that is going to enter the quadrillions of dollars. Actually, do not be surprised if this hits ten quadrillion.
These are numbers that are mind numbing to people. We tend not fathom things that large. Nevertheless, we when look at the amount of data generated each year, nodes connected to the Internet, and software programs available, we can formulate some understanding of how big this is. Remember, much of the traffic here is automated.
Monetization Of Everything
The tokenization of everything is really the monetization of everything.
We are going to see a digital representation of everything we can think of. Real world assets will have this. Activities can be quantified and rewarded. Any behavior can be incentivized. We even see where human waste can be monetized.
Everything will be data and data will be monetized. It is estimated data is doubling every 18 months. That alone is going to push the value of the entire digital world up.
The key is that all of humanity is going to own a piece.
YOLO
All of this is going to be enhanced by YOLO (You Only Live Once). This can be also termed the "Hail Mary" or lottery ticket. The idea is to take some money and put it on a long shot. In cryptocurrency vernacular, it is finding the moonshots.
Here is where one or two hits over a decade can really change things. For most people, this typically is not possible since we tend to lack resources. When they are precious, wild bets are not sensible.
With cryptocurrency that all changes. If one is being rewarded for eliminating yesterday's lunch, the resources are suddenly available for some long shots.
People are able to safely move up the risk curve since they can afford to have that money go down the toilet.
Steady Cash Flow
Few can grasp the enormity of what we are dealing with. When people have steady cash flow, which is becoming a constant in cryptocurrency, we see massive economic expansion. This gets insane when we couple the exponential increase of technology.
Passive income is dream for most people under the present system. In the world of cryptocurrency, it is the norm. A significant portion of what we see now generates this. It is inherent to the system. Much of the early development of Decentralized Finance (DeFi) revolves around this.
How does this change the equation for all who are involved?
Naturally, this feeds into some of what was mentioned above. As networks grow, people have some stake. It allows them to enjoy financial benefits that are otherwise missing for the majority of people.
Web 3.0 - Bigger In Every Way
The basic premise to understand is that Web 3.0 is simply going to be larger in every way than what we presently have. This is essentially what we are dealing with: the next generation Internet.
Over the last 30 years, we saw how this medium enjoying explosive growth in every way. This is not only going to continue but will accelerate. Some even believe it is going spatial.
With a different mode of ownership as compared to Web 2.0, this is going to allow everyone to own a piece of the digital pie.
Few can argue the impact upon society the last generation of the Internet made. It is not poised to take another evolutionary step forward.
Cryptocurrency is right in the middle of it. Just like before, very little in society will be unaffected by this.
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