Unpredictable periods present a prime opportunity to reflect, put circumstances in perspective, and pivot to new possibilities. For instance, blockchain technology emerged after a global financial crisis to encourage a more democratic economic system. Although prices are currently down, volatility is high and uncertainty prevails, the fundamental purpose of the digital asset ecosystem remains firmly grounded.
The promise of an equitable future for all is based on accessibility, decentralized governance, and ownership—tenets that can revolutionize countless facets of modern life when harnessed effectively. Mediocre projects may fail, and sustainable businesses may falter; still, there is no doubt that the industry will survive and flourish because the digital asset ecosystem is antifragile—improving despite adversity. We have seen antifragility at work repeatedly in this budding market, following the Mt. Gox bankruptcy filing, the ICO bubble, and China’s cryptocurrency bans. The ecosystem rallies after every calamity with an increase in digital asset wallets, new institutional offerings, and capital flooding into venture projects.
No matter how long this current downturn lasts, we commend blockchain’s original pledge, its earliest successes, and the promise of future innovation. Blockchain has already shaped the addressable digital asset ecosystem, expanding functionality and opportunity within currencies, governance, and value accretion. Moreover, the technology has enabled developments that we think will forever change the world: Bitcoin, decentralized finance (DeFi), and non-fungible tokens (NFTs).
Continue reading: https://www.wealthmanagement.com/alternative-investments/three-successes-blockchain
The promise of an equitable future for all is based on accessibility, decentralized governance, and ownership—tenets that can revolutionize countless facets of modern life when harnessed effectively. Mediocre projects may fail, and sustainable businesses may falter; still, there is no doubt that the industry will survive and flourish because the digital asset ecosystem is antifragile—improving despite adversity. We have seen antifragility at work repeatedly in this budding market, following the Mt. Gox bankruptcy filing, the ICO bubble, and China’s cryptocurrency bans. The ecosystem rallies after every calamity with an increase in digital asset wallets, new institutional offerings, and capital flooding into venture projects.
No matter how long this current downturn lasts, we commend blockchain’s original pledge, its earliest successes, and the promise of future innovation. Blockchain has already shaped the addressable digital asset ecosystem, expanding functionality and opportunity within currencies, governance, and value accretion. Moreover, the technology has enabled developments that we think will forever change the world: Bitcoin, decentralized finance (DeFi), and non-fungible tokens (NFTs).
Continue reading: https://www.wealthmanagement.com/alternative-investments/three-successes-blockchain
