Crypto is built around Blockchain and Decentralization (two big subjects). It has many enthusiasts, mainly young men, but it is too early to tell if it will become economically important.
It has produced many cryptocurrencies, such as Bitcoin, that have had plenty of problems. But they also have plenty of possibilities. Their future probably lies in an application that has not been thought of yet.
Its development might be similar to the phases the Internet went through. A boom, a bust, and then a recovery, where many uses have been found for it, that didn't exist before.
Facebook is trying to build its own currency: Libra, which has generated intense interest from the Banks, mainly negative. They are afraid, for a good reason.
Crypto is entirely abstract, it is not physical at all. Which gives it its intense appeal, like that of Religion.
The Ethereum currency also includes Smart Contracts, and I am tempted to buy some, so I know what is going on there. It has good documentation here.
Thursday, November 28, 2019
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