So what it is to be? Are you an optimist and is the glass half full? Or are you a pessimist and the glass is half empty. Or maybe you are a Bitcoiner and the water in that glass is totally centralised…
Well the markets are stable, if a bit sluggish. The Crypto Spring seems to have arrived, even if it is a bit tardy and the sun is meant to shine this holiday week – so all is good.
Then we are witnessing a plethora of private blockchains – JP Morgan and now the IMF and the World Bank. Although chairperson Christine Legarde of the IMF feels that bitcoin might shake up the financial systems and cause a loss of stability. Hmm is that a bad thing? I like the sound of shaking up the financial systems.
So too there is talk about how blockchain can enable Universal Basic Incomes 0r UBI. I really like the idea behind UBI – it would be paid for by eliminating all those jobs in the dole and social protection departments. Blockchain is seen as a means of monetising people’s personal data and paying them directly. While this is definitely a ‘thing’ the question is will the amount be enough to be a UBI. And I guess that while a small income might work in a developing country, would the data belonging to a citizen in a developing country be considered as valuable? The old chicken and egg scenario.
And if we want to make really bad jokes with Games of Thrones arriving on our screens tonight, I really have to say – in the game of crypto – you HODL or you die….
Happy Crypto Week