Kelly Evans: Taking crypto seriously

Kelly Evans: Taking crypto seriously

While we're all over here guffawing about dogecoin, the actual crypto economy is taking off 

What do I mean? Take the rise of non-fungible tokens (NFTs). These wouldn't be possible without the underlying "rails" they exist on--in large part, the ethereum network. Wait, isn't ethereum a cryptocurrency? Yes, and it's at a record high again today. But unlike Bitcoin, it's also a software platform that can power other decentralized apps. It's kind of like Bitcoin and the blockchain all in one. 

And these new tokens, NFTs, are a total game-changer. I haven't been this excited by something new on the scene since cloud computing a decade ago--and look how much value the cloud has created in that relatively short period of time. At least, what, $3 trillion just roughly using the market caps of Microsoft, Google, and Amazon? 

Why the excitement? Because NFTs, like the cloud, are a completely new process and payment scheme--except while that one accrued to the big tech platforms, this one accrues to the individual creator. Now, sure, big content creators like the NBA and CNBC could also benefit from selling or owning their tokenized content, but so can the little guys. For instance, people who just so happened