by Summary:
This “mainstreaming” of blockchain applications marks the end of the first stage of the technology’s development. Now, with the help of regulators in a range of countries, cryptocurrency is entering the next phase of its evolution: becoming an investable asset."Investable asset" implies a store of value. Hard to see crypto as anything more than a speculative vehicle at this stage owing to extreme volatility, crime, government opposition, etc., relative to other recognized stores of value. Aleh Tsyvinski acknowledges this and suggests ways that this can be overcome. In other words, it could happen if the dominant players in the financial community put their shoulder behind it.Project SyndicateCryptocurrencies' Next StageAleh Tsyvinski | Professor of Economics at Yale University
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
This “mainstreaming” of blockchain applications marks the end of the first stage of the technology’s development. Now, with the help of regulators in a range of countries, cryptocurrency is entering the next phase of its evolution: becoming an investable asset."Investable asset" implies a store of value. Hard to see crypto as anything more than a speculative vehicle at this stage owing to extreme volatility, crime, government opposition, etc., relative to other recognized stores of value. Aleh Tsyvinski acknowledges this and suggests ways that this can be overcome. In other words, it could happen if the dominant players in the financial community put their shoulder behind it.Project SyndicateCryptocurrencies' Next StageAleh Tsyvinski | Professor of Economics at Yale University
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Lars Pålsson Syll writes I am I said
Lars Pålsson Syll writes The non-existence of economic laws
Michael Hudson writes Gaza – Civilization will Win over Barbarism
John Quiggin writes The war to end war, still going on
This “mainstreaming” of blockchain applications marks the end of the first stage of the technology’s development. Now, with the help of regulators in a range of countries, cryptocurrency is entering the next phase of its evolution: becoming an investable asset."Investable asset" implies a store of value. Hard to see crypto as anything more than a speculative vehicle at this stage owing to extreme volatility, crime, government opposition, etc., relative to other recognized stores of value. Aleh Tsyvinski acknowledges this and suggests ways that this can be overcome. In other words, it could happen if the dominant players in the financial community put their shoulder behind it.
Project Syndicate
Cryptocurrencies' Next Stage
Aleh Tsyvinski | Professor of Economics at Yale University