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RE: Cryptocurrency: Utility Is The Most Important Thing

in LeoFinance4 years ago (edited)

I agree that ultimately what will drive value is utility. Far to much energy has been invested on price speculation and far too little on just making things that people find useful. Distributed ledger technology should never be anything more than a tool that you use to do something and should only be used when it actually adds value.

I recently came across a project where they are using the trust less nature of an immutable smart contract to handle the distribution of value through a Matrix Program. Say what you will about the ponzi like nature of Matrix Programs but this is at least a practical application of decentralised trust and far more valuable than simple price speculation on the future price of cryptocurrencies on centralised exchanges.

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Far to much energy has been invested on price speculation and far too little on just making things that people find useful.

The financial aspect of cryptocurrency naturally drew people into the speculation side of things. Of course, seeing the Bitcoin millionaires crop up, seemingly, overnight only fed into this more.

People overlook the fact that cryptocurrency is a technology, peer to peer ability to transfer value without a third party. Because of this, development is crucial which should lead to use cases.

It is then where we will see the utility of tokens increase to the point where people will be using the applications and the token will just be an interwoven part of that economy.

Posted Using LeoFinance