Come see me talk with @Kr00ney about Read Write Own & the future of the internet at @cwclub in SF on March 19th. I'm also signing books there. More info & tickets: commonwealthclub.org/events/2024-03… All proceeds (aside from optional book purchase) will go to the non-profit Club.
Most valuable crypto use cases I see at the moment 👇 1) Stablecoin transactions - In 2022, the transaction volume for Stablecoins was $11.1tn compared to Visa's $11.6tn (could not find 2023 data yet). Why was this amount so high and why is there so much potential in this space? -> Ease of international payments on the blockchain. -> Inflation in developing countries around the world caused many citizens to gain access to US dollars through stablecoins on the blockchain. Many developing countries have limits on converting the currency to USD otherwise. -> Greater institutional buy-in. Even the likes of JP Morgan, whose CEO Jamie Dimon is a huge bitcoin skeptic, has invested tremendously in its JPM coin partnering with the @Ethereum blockchain, @Consensys and Onyx to build out the software infrastructure. Will be very interesting to see how this project plays out. -> Lastly, it's a proxy for the continuation of US dollar dominance. Over 90% of stablecoin transactions take place with stablecoins that are backed by the US dollar. 2) Decentralized form of money - Bitcoin. It has all the properties of sound money i.e divisible, portable, fungible, scarce etc. 3) Tokenization - Larry Fink, Blackrock's CEO, mentioned this. I believe there is a huge opportunity in this area, notably NFTs in order to prove ownership without spending billions on middlemen, lawyers etc. Theoretically, in the future, I could scan a QR code to prove ownership of property as I own the NFT in my Ethereum wallet which is on the blockchain for everyone to verify. 4) Decentralized Finance - The atomicity and composability of blockchain platforms. Atomicity ensures the integrity and trustworthiness of individual transactions, a non-negotiable requirement in finance. Composability, on the other hand, fosters innovation by allowing developers to build upon existing protocols and create new financial products, driving the rapid growth and evolution of the DeFi space. What do you think? Would love to hear!