Source
I wrote a post a while back declaring the FUD to be over. My reasoning was because there were some positive reports coming from mainstream publications such as Time Magazine. Once I saw that, I knew the tide was shifting.
The FUD was designed to turn people away from cryptocurrency. We know the media is nothing but an arm for those who are running the show. The establishment, obviously, wants the status quo. Cryptocurrency is anything but that. The underlying technology, blockchain, has so many possibilities that it cannot be contained.
For this reason, I feel it is time to get very excited. An entirely new world is going to be created as a result of what is taking place. My estimation is this is the Internet times 100. There simply is no way to quantify how much this will change the world.
There is little that we see today which will not be affected by these technologies. All aspects of life will be touched by them.
We are on an evolutionary path. This is not something that was created out of the blue in the sense of not following what went before. It is why Web 3.0 makes a great deal of sense to me. From the Internet of the late 1980s to now, we see a progression. Blockchain and cryptocurrnecy is just following that.
The major difference is the monetization. Cryptocurrency fosters a new realm. As an alternative to fiat, it presents another option for people. This is enormous.
What is really exciting is this simple fact: cryptocurrency is a better alternative to fiat.
Build a better mousetrap? It was done.
Source
As a Steemian, I get super-juiced at the prospect of people joining this ecosystem and having their lives changed. While many focus upon STEEM, it is vital to remember that we are going to have thousands of tokens on here. Everything you can think of will be tokenized across the entire industry. As applications become popular and increase in users, we will see ecosystems develop around this. Hence we will have ecosystems within ecosystems.
Naysayers seems to miss the value of an ecosystem. Apple is one of the most valued companies in the world simply because it created a closed, loyal ecosystem. Microsoft experienced similar results since, for decades, almost all computing was done on Windows. In other words, ecosystems are worth trillions of dollars.
What will the Steem ecosystem be worth? I cannot answer that but I expect it to easily be into the hundred of billions, if not trillions. People do not realize the shift that takes place compared to what we know.
Consider that we could have hundreds, or even, thousands of games. There might be a number of online stores for shopping. We could well see more forms of entertainment. Do not be surprised if an entire financial network is developed on here. With the ability to smart contract, we could see Security Tokens meaning we are opening the door to many different areas of physical assets.
In other words, the possibilities are endless.
It is hard for us to imagine how much money is going to be created and wealth unleashed through. When numbers are thrown out, people are astounded, not believing it is possible. I can assure you it is for one simple reason: innovation.
We live in a world where innovation was stifled. Centralized entities were slow to have breakthroughs because all was kept secret and controlled. A decentralized environment that is open source accelerates innovation. What is known is viewed by many and improved upon. It is a shortcut to growth.
It is fascinating to watch some of this in action. I look at the @buildteam and what they are doing. Creating a markdown template that can be used by all applications potentially improves each the second the code is posted. This saves each application having to design its own. At the same time, someone else might take what is out there and improve upon that.
And so it continues.
For me, when I dig just below the surface of what is taking place, I get really excited. Look at the progress that this ecosystem made in the last year. Now, try to imagine what it will be like 5 years from now.
Simply mind blowing.
Hang on, it is going to be a wild ride.
If you found this article informative, please give an upvote and resteem.