The encryption needs to override black and white thinking
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A decade ago, Half of Dzna Marakex It was collected in a Swiss house to launch ETHEREUM – a piece of ecosystem for encryption that works as a distributed computing platform, using the ether code.
Initially it looked at the beginning: the founding tribe explodes after the bitter internal battles; Ethereum suffered from the huge cyber penetration. The scandals erupted, like Bitcoin, the price of ETHER is madly fluctuating, rising from nothing to $ 5,000, before collapse.
But this week, something amazing: Just as the White House was issued a a report About the “Golden Age for encryption”, Nasdak exchange ETHEREUM Tenth birthday. “Ethereum has shown itself … as an anti -individual definition,” enthusiastic Joe LubinOne of the former residents of that founding house, which presents the platform as a “reliable confidence layer for our fast -growing digital world.”
The cheerful will undoubtedly Wince in terrorWhile the enthusiasts will chant. No wonder: it can be said that Crypto is the most divided issue in financing today. However, I would like to suggest that this anniversary should raise more realistic and accurate judgment. Over the past decade, it has revealed at least five main points about the encryption that investors should think about.
First, the most clearly, the digital assets are not homogeneous (even if the critics hate them all). Bitcoin is a single -dimensional phenomenon similar to “digital gold”, while Ethereum is a multi -faceted infrastructure. Memecoins (Like $ Trump) Just float on crazy noise, but stablecoins is supposed to be supported by assets, such as the cabinet. This is important.
Second, we need to overcome black and white thinking with encryption. Evangelists who declared a decade ago that distributed financing will transfer the world have been wrong-so far the digital assets are still very heterogeneous, expensive and energy that do not spoil most of the dominant payment options, and very volatile so that it could not serve as a reliable value of value. The crime was widespread. Just think about an epic Sam Banka Muqali, or Organizational blame From Tether Stablecoin.
But the observers who expected the Crypto demise were equally wrong. Digital asset prices rose (again), paying ethereum and Bitcoin’s market value until $ 455BN And 2.3 million dollars, respectively. And 270 billion dollars. Stablecoins The trading of many transactions has been supported as Glenn Hutchins, a long technical investor.
Why? Green (or speculation) is one factor. But Crypto is based on an interesting innovation (Blockchain) can sometimes be useful (for example, some of the boundary payments). Moreover, some of the main players and organizers raise the criteria in response to previous scandals and networks such as Ethereum reduce energy use.
Third, the prevailing financing moves. This is ridiculous, given that early encryption missionaries promised that distributed financing will nullify job occupants. But it leads the current boom. Consider the fact that senior executives have just joined Ethereum Investment Collection; Or that traditional asset managers such as Foundelity, Blackrock and Vanguard They launch encryption funds; Or how major investors are increasingly using encryption as a Tongue theater, while banks like JPMorgan operate their Blockchains and Stablecoins launch.
Fourth, the political geography of encryption turns – quickly. In the past decade, most innovations have occurred outside America, in places like Hong Kong. But this week, Paul Atkins, the securities and exchange chair, said he wanted to withdraw it Wild. Why? One of the reasons is that the Trump family itself It is invested in encryption. Another is the narrow policy: The encryption groups were like The great donors in Trump in 2024 tell me the stars that they won the elections for it.
But geological financing also matters. Treasury Secretary Scott Payet hopes this Stablecoins is based on the dollar It will create a new source of demand for the cabinet, and reinforce more dollar around the world. It is considered This is a new political development Ali Breton Woods in the Silicon Valley era.
Finally, the second -class Crypto effects may turn to being more interesting than the digital assets themselves. What innovation does is to enable us to imagine alternatives to the current financial and geopolitical situation – for example, by asking whether we need to rely on the rapid payment system, or the domination of the dollar.
Do not understand me wrongly: by achieving these five points, I don’t give up the risks. Trump Administration Department conflicts with shameful encryption. The probability of consumer damage is real. there The risk of financial stability Because of the growing Crypto bonds with prevailing financing, the use of the cabinet to support Stablecoins. Grost and Grift exist.
But you can worry about these risks – and you want a better organization – but at the same time to realize that basic technology can be useful as a geopolitical and financial diversification tool.
For these reasons, ETHEREUM must urge either enthusiastic and employees to realize that either of them is completely right. Life is rarely white and black – in financing or anywhere else. This will not change even if (or when) Ethereum is 20.
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