Think about this: change in a new phenomenon for us.
Let him in for a moment. Recently, however, humanity or individuals have had to deal with a major change. For most of history, we have had lives similar to our ancestors. Then, in the last few decades, we saw developments that started us on a different path than our parents.
Think how big this is.
Of course, this is due to technological progress. However, it is important to remember that this is just getting started. The speed at which things move is putting us on an exponential curve that will really speed things up.
Therefore, we must realize that in a short time we will have different lives every ten years.
Smartphone and streaming video were two technologies that made the late 2010s very different from the same spot in the 2000s. Phones were mostly still for talking in the previous decade. For ten years, suddenly a large percentage of people's lives have been accessed via smartphones.
Programmable Money
While few people look at cryptocurrency as a technology, this is exactly what it is. If we take a step back from the financial carousel supported by the media and all casino players, we see something very revolutionary happening.
Cryptocurrency is the technological advance of one of the oldest analog systems in the world: money.
This is huge progress because there are very few things in the world that money does not touch. As they say, this is what turns the world around. We still live in the monetary system that determines many outcomes. Find something important that has no money attached to it somehow. It underlies most of our power struggles, our technological progress, and even what we think. Those who have access to large sums of money can do amazing things, both good and bad.
We are moving towards a world where cryptocurrency will be ubiquitous. With the symbolization of all things begin to penetrate every area of human life, we will see the 2020s as the decade. There is still a lot of stuffing to do, but we are already on the road.
In five years we will think that today's crypto industry is in the Stone Age.
The reason for this is to consider any successful technology and look at how much progress has been made in 5 generations. Each year, we see more and more cryptocurrency being added as innovation and experimentation expands.
Our dance is just beginning with programmable money.
Private Money
By the end of this decade, a world without private money will seem very strange to us. Naturally, this is what we have experienced throughout human history. However, as mentioned above, this is how each decade will differ from the previous one.
In most countries today we cannot imagine a life without a smartphone. It's foreign to think about what things are like before going around with "computers in our pockets". It wasn't that long ago though.
CBDCs are starting to attract a lot of attention. It is vital to remember that the institutions that look at them are more than a decade behind. Bitcoin is now 12 years old. The publication of this sparked a lot of research that resulted in thousands of different platforms and tokens. Many of them got belly, especially in the early days. That's why we always need to look at it as a technology. There are always early failures in that arena.
We know that public money of this nature is coming. It is guaranteed to be. We see that the research has been done. Yet there is one problem these institutions have: time.
They tend to be very slow. They operate at snail speed compared to the private money world. The Fed announced that it will publish its newspaper this summer. In the time it takes for them to do this, the private domain will simply run applications and publish some code around the world. It is a real time experiment.
Many fear the war of strife they awaken in their minds. Although governments are known to exercise control, they have already lost it. Simply put, technicians who are already in the cryptocurrency industry cannot get out of the technology. By the way, this is a steadily growing group.
Every day, there are developers from all over the world hacking code. Combined, they create one of the most complex systems we have ever developed as humans. This will be much greater than the impact of the Internet because, as noted, it instantly touches most things in our society. Money is that powerful.
So while central institutions develop and follow plans, the rest of the crypto world is going in thousands of different directions. One of the biggest benefits of blockchain is that anyone can build on it. Permission is not required.
That's why we have people from all over the world generating ideas as it is about programmable money. Of course, these ideas are not used through protocols, but rather through applications. As these spread, more people get engaged.
Look Forward by Looking Back
Ten years is a long time.
Think about where this industry was in May 2011. What tokens were there back then and are they still around today? There were bitcoin and maybe a few others that drifted into the sunset. Even Litecoin was just a few months past its launch.
Compare this to the current situation. We have tens of thousands of tokens all over the world. Even a site like Coinmaketcap has been listed about 10K. We now have smart contracts, DeFi, NFTs, and a range of apps that allow access.
The big move that goes on is interoperability. Apps are trying to expand their reach and make more use under their umbrella. This will only improve the experience that all users have.
Therefore, even if we repeat the events since 2011, we will see a completely transformed world when it comes to money. However, there is a great chance that we will see much greater progress than before.
This is the exponential nature of what is happening.
Simply put, there is no turning back. Just as we are not about to abandon our smartphones in favor of a call-only device, just as we cannot cancel streaming to go to a video store, the cryptocurrency world is also a memory.
We are on a technological curve that will take place in a very different world 10 years from now. Then, without the programmable, private money, many people will have to think a lot about what life is like.
Just like the Internet for most people today, it will be ubiquitous. With the speed of money running through the roof, things will happen instantly. It will likely provide the basis for tremendous growth in other technological fields and further increase the pace of society's progress. Although we need new benchmarks, all of these should appear in the economic output.
So yes, the best for cryptocurrency is definitely ahead of us.