Following a campaign by both Crypto Disrupt and the team over at LEXIT, a blockchain-based marketplace for the sale of intellectual property, to find out exactly what it is that people love about crypto, the answers given were fascinating!
The world of cryptocurrency and blockchain was described as a “financial revolution” of sorts, and “the future of business and government.”
While the roles that cryptocurrency and blockchain have to play in the future of business and government is yet to be determined, what cannot be denied is that it will play a part. We have already seen the Smart Dubai project, that looks as though it will be ushering in the first ever blockchain-powered government, but how it affects the rest of the world is up for debate.
I actually own crypto
“I love crypto, and that’s because I own it,” is an answer someone gave to the question posed by LEXIT and Crypto Disrupt.
An opinion that perhaps isn’t as widespread a reason for owning crypto as many others, but it is perfectly valid.
The individual who expressed this viewpoint continued –
“If you own a hundred dollar bill, you don’t actually own it; you only lease it from your government.”
“In the case of crypto, I actually own it. If I have it in my wallet, if I have the private keys, that means I am the owner.”
“If people want crypto, it has a value.”
The value of crypto is a really hot topic and has been since cryptocurrency like Bitcoin burst onto the scene.
The question of crypto having a value, and being over or even undervalued is a debate that will rage for a long time to come.
As the gentleman who submitted his video said though, if people want it, it has value!
Decentralized and encrypted
“The reason I love cryptocurrency. Fully decentralized, fully encrypted, it can’t be hacked.”
Another video entrant mentioned the decentralized and encrypted nature of cryptocurrency, and of course, this is one of the most talked about aspects of the technology.
There was discussion late last month about the possibility that the Bitcoin network could become even more decentralized as technology advances begin to slow, which is no doubt music to the ears of those who are perhaps a little worried that the centralization of the bitcoin mining network could have an adverse effect on the decentralized nature of crypto moving forward.
Worldwide adoption is something else that was mentioned in the submitted videos, with more and more places accepting crypto as a form of payment.
This number is growing by the day it would seem.
“Crypto brings and will continue to bring, opportunities to people who don’t have opportunities,” was another answer given to the question posed by LEXIT and Crypto Disrupt.”
“There are a lot of people in this world who are unbanked, are underprivileged, who are oppressed, and I feel that cryptocurrency is bringing opportunity to these people, and as cryptocurrency grows, it will continue to bring opportunity to these people.”
This is something that cannot be denied, even by the fiercest crypto critic.
Cryptocurrency offers opportunities for those who aren’t in a position to deal in fiat currency, for whatever reason.
The recent success of AliPay is a fantastic example of just that.
“I love crypto for its applications in lightweight finance. We see this in cryptocurrencies like Stellar, Litecoin, and of course Bitcoin.”
Stellar has gained recognition for its partnerships with both tech giants IBM, and Deloitte in 2016.
Widely regarded as one of the top ten cryptocurrencies, Stellar is a currency that holds a lot of appeal for the business world.
“Crypto is exciting to me because of its truly epic implications for society.”
“I love the way crypto challenges the status quo, challenges crusty old industries to reassess the way they do business, and challenges outdated and outmoded societal hierarchies to change.”
This last point really does sum up cryptocurrencies. It’s the reason why so many industry leaders within traditional industries fear it, and equally why so many in other sectors love it.
It certainly has been something of a game changer, with LEXIT being among those platforms which are leading the way, and it doesn’t look it’s going away any time soon.
So, as we near the end of 2018, it’s fair to say this has been a tough year for crypto, but it’s still here, and the future of the industry is still as bright as ever.
Lover of all things crypto, blockchain and AI, professional tech scribe & part of the editorial team at Crypto Disrupt.