Why We Are Bullish on Blockchain

by Jurica Dujmovic
By Jurica Dujmovic

A few days ago, I had the honor of participating in Seasonal Tokens’ monthly Twitter Spaces call.

Although we already covered the topic of the call itself in my previous article, one comment by another guest got me thinking.

The guest in question is Edward Sturm, co-founder of World of Ether, which was named top blockchain game in 2018 and 2019. And he simply said that he is “bullish on blockchain and bearish on crypto.”

Now, Edward is a pretty savvy guy. Being on the team that created World of Ether during the heyday of play-to-earn gaming is just one of his many accomplishments. In fact, his achievements show me that he understands the general direction of the crypto industry and its trends.

So, hearing him make this comment and noting the subsequent questions from the audience made me realize that the community’s sentiment toward crypto has changed over the years.

During the stream, it was obvious that the community understands that the days when tens of thousands of dollars could be made daily from non-fungible token sales are long gone.

As the discussion progressed toward the recent actions of the Securities and Exchange Commission, I was surprised that there were no angry fists in the air over the Binance (BNB, “C”) lawsuit.

Instead, the focus simply shifted toward memecoins, and listeners were asking whether there was a way they could predict the actions of memecoin whales and their pump-and-dump schemes … and perhaps pick up some breadcrumbs falling from their tables.

While this sentiment might reflect the opportunistic aspirations of some crypto investors — as well as the Wild West-like nature of certain crypto cliques — it does not fully reflect the state of the industry, nor its future.

To truly bring things into perspective, let’s explore a promising side of crypto: its capacity to adapt and evolve.

Fundamentally, the original vision of crypto was to challenge the fiat system and the failing bureaucracy behind it, ultimately empowering the average person. In its early days, Bitcoin (BTC, “A-”) was a currency created for the people, by the people.

Although the discourse has gradually shifted its focus to wealth generation and the challenges of regulation, the innovative spirit of crypto remains alive and well. In fact, we can see it clearly in the rise of DeFi — a beacon of the revolution that crypto was meant to spark.

You see, DeFi operates independently of traditional banking institutions. And by improving accessibility, transparency and efficiency of financial services, it has the potential to completely upend the traditional finance sector, offering a level of empowerment never before seen.

Decentralized exchanges are also evolving, becoming more user-friendly and efficient. These platforms allow users to trade cryptocurrencies directly from their wallets, increasing user security, privacy and control.

And let’s not forget another important topic that was discussed on the call, which is also a testament to innovative advancements in the space: the tokenization of real-world assets like equities, commodities and real estate.

Indeed, blockchain technology is opening new investment opportunities by enabling fractional ownership and increasing liquidity and transparency in markets that were previously opaque.

And that’s not all. Blockchain technology is constantly improving, with initiatives focused on scaling and interoperability addressing ongoing challenges.

Specifically, efforts led by initiatives like Polkadot (DOT, “B-”), Cosmos (ATOM, “C”) and Ethereum (ETH, “B”) have been integral to increase transaction throughput, reduce costs and improve overall blockchain performance.

Finally, I would be remiss if I didn’t mention the development and adoption of Layer-2 solutions. L2s address the scalability and bandwidth issues that some blockchain networks face. By enabling quicker and cheaper transactions, they are broadening the appeal of cryptocurrencies and making them more accessible to everyone.

So, despite the tightening grip of regulators like the SEC, crypto will remain unbroken. This resilience, this capacity to innovate, adapt and evolve, reminds us that crypto will find a way to flourish and live up to its promise of being an alternative medium of exchange, whether the powers that be like it or not.

After all, hope is the lifeblood of innovation. And in the world of crypto, innovation is everywhere.

Speaking of innovation, Weiss Ratings is thrilled to announce a new monthly Twitter Spaces event, designed to discuss the latest trends and insights in the crypto world. Each event will feature top-tier Weiss analysts and prominent industry influencers, exploring key topics from regulatory changes to emerging coins.

For the inaugural session, Weiss analysts Alex Benfield and Chris Coney will be sharing their insights. Alex is a skilled crypto analyst and investor with expertise in examining social sentiment and trends. Meanwhile, Chris is a renowned figure in the DeFi and crypto space, known for his pioneering work in yield farming.

These monthly Twitter Spaces events will not only offer the latest crypto knowledge, but also provide an opportunity for audience engagement and interaction with experts. And they are completely free to attend!

So, if you are interested, follow @WeissCrypto on Twitter. We will soon announce dates and times for this dynamic conversation about the ever-evolving future of finance.

Best,

Jurica

About the Contributor

Jurica Dujmović has been a creator, collector and investor in digital art, including the rapidly evolving non-fungible tokens (NFT) space since its inception nearly a decade ago. He’s also passionate about digital currencies and writes about crypto trends, including what’s new in the Weiss Crypto Ratings, in Weiss Crypto Daily. 

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