To understand this next decade, you need to understand crypto.
The first big decentralized cryptocurrency was Bitcoin and I think it’s fair to say that Bitcoin still is the most important crypto out there. Since 2009 (when the first Bitcoin was created) thousands of cryptocurrencies have been developed.
This is a totally new form of money, medium of exchange, and store of value.
It is easy to argue that the crypto world is just a space for speculation or worse, that there is no real use for them.
It is not crazy to say that most people who think this way come from rich countries, with strong currencies, little corruption, and economic stability.
But crypto coins have become a revolution in countries like Nigeria, Venezuela, and Argentina, where authoritarian or reckless governments confiscate their citizens’ assets and depreciate their own currencies, decreasing people’s purchasing power.
They are a way of separating the impact of arbitrary policy decisions on the currency, which always harms the general population and not those who make the decisions.
This is only possible because most cryptos run on blockchains, which provides a secure environment against arbitrary centralized decisions or censorship attempts.
For example, in Zimbabwe, hyperinflation was so big that the government created “Ten Trillion Dollars” bills that actually ended up worthing nothing.
Will Bitcoin become a medium of exchange? What will be the most important cryptos in the world? Nobody knows. But the doors to this new world have already been opened.
The cryptocurrencies are a brilliantly written response with math and code against the irresponsible misadventures of governments against their own populations.
Cryptos are inevitable.
