Linking Crypto And Traditional Business

The total market cap of cryptocurrencies is $1,287,064,205,079 as of the time I am writing this. The market cap of all the economies in the world is estimated to be roughly 93,860,000,000,000 or 93.8 trillion USD. That makes the world economy roughly 73.92x the value of the cryptocurrency market.

I offer up these numbers to illustrate just how important it is for cryptocurrencies to continue to combine forces with real world businesses and tap into the world economy as much as possible. I have written in the past about how I formulate this could happen, and at the end of the day I keep reaching the same conclusion: oracles.

Oracles And Conveience

I think that society likes to change only when the change makes life more convenient even if a less convenient change would lead more positive results. A perfect example of this is web 2.0 versus web3. Web3 users know that having the ability to monetize your art and opinions directly without mass oversight from a centralized source is an awesome development in user autonomy. At the same time, it is hard to beat how convenient and addicting Twitter, Instagram, Facebook and Tik Tok are. Since they have the first user advantage I find it unlikely we see a move away from them until web 3.0 becomes much more user-friendly (which it has consistently gotten since I have started using it).

This example leads me to the point that I want to make with this article. I believe that the true leader in making cryptocurrency a mainstream part of the world economy will be the one that combines directly with the existing and "convenient" systems. Thus, I think that the cryptocurrency that will make the biggest impact is the one that will employ the use of oracles to implement smart contracts into existing platforms. The token I think will accomplish this (as I've said) is Chainlink, which is why I have been stacking it tirelessly over the last few months.

Chainlink is grossly undervalued in my opinion because of it's ability to seamlessly integrate and provide blockchain data to traditional sources and vice versa.

Right now, Chainlink is trading around $8, down bad from it's ATH of $52.88 (though most of the market can say the same). That is a huge jump that is bound to happen IMO as we see Chainlink continue to secure protocol integrations with huge financial conglomerates along with businesses of every type. If you haven't given it a look, I recommend checking the token out and just seeing for yourself what I am finding to be a glaringly obvious reality. Convenience will win the first battle in the transition of societal thinking. Nobody wants to do something that is hard, so choose the tokens that are going to make things easier.

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Who I am:
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.