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,...read more...