If cryptocurrency cannot be financially independent from the legacy financial and technical industries it seeks to replace, then what is the purpose of cryptocurrency? asks ogcryptoskier, CEO at Bitcoincom.
, might as well be Latin. Ironically, for blockchain to decouple from tech, the experience of using it needs to be more like that of Meta.
The crypto community needs to decide if blockchain is a jack of all trades, or a master of some. While many pitch blockchain as a universal technology capable of transforming whole industries, there has been little evidence that blockchain alone is a silver bullet for all of our modern-day woes. At least for the short term, it is better to focus on creating real-world transformational change in a few key sectors rather than pursuing a multitude of theoretical, yet unrealized, applications.
These core principles are central to the origins of blockchain and are necessary to secure its future. We are already seeing these principles in action. In El Salvador, Bitcoin institutionalization is enabling migrant workers to send and receive funds without burdensome transfer fees. In Ukraine, we have seen humanitarian donationsinto the country via blockchain faster than official state aid.
To save crypto from this fate, we need to double down on what made it revolutionary in the first place.
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