Cryptocurrencies Could Wind Up Building Something More Important than Wealth

The crypto space has already shown signs that in more years to come, it will be more dynamic, explosive, volatile, and exciting for crypto enthusiasts and investors.

The overall crypto market cap is around $800 billion today. It is quite close to breaking the $1 trillion threshold. There are lots of promising ICOs anticipated during the first half of 2018 to keep up with, and huge amounts of institutional investment money is expected to flow into the cryptocurrency space this year.

More companies have emerged since the start of the year and are keen on capitalizing on the current dominance of Bitcoin and Ethereum within the cryptocurrency space. Most of these companies are poised to bring new ideas and solutions for both decentralized operating systems and date storage/management.

The true believers behind the blockchain platforms like Ethereum and other digital currencies argue that a network of distributed trust is one of those advances in software architecture that will prove, in the long run, to have historic significance. This promise has helped fuel the massive jump in cryptocurrency valuations. The actual promise of these new technologies, many of their enthusiasts believe, lies not in displacing the virtual currencies but in replacing much of what we now think of as the internet, while at the same time returning the online world to a more decentralized and equalitarian system.

The blockchain is without a doubt, the future. It is a way of getting back to the internet’s roots – a more radically open and decentralized environment. The internet has changed people’s lives in many ways over the years, and is widely viewed as the cause of almost every social ill that confronts our society at large. The web had promised a new type of equalitarian media, populated by small magazines, bloggers and self-organizing encyclopedias; the information titans that ruled mass culture in the 20th century would give way to a more decentralized system, defined by collaborative networks, not hierarchies and broadcast channels. The wider culture would come to mirror the peer-to-peer architecture of the internet itself.

The year 2017 marked the end of the negative influence of the internet to an extent. The existence of internet skeptics is nothing new, but the significant difference now is that the critical voices increasingly belong to former enthusiasts. According to most blockchain advocates, “The online world would not be dominated by a handful of information-age titans; our news platforms would be less vulnerable to manipulation and fraud; identity theft would be far less common; advertising dollars would be distributed across a wider range of media properties”.

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