Or have we seen it already? Nah! If I am to give an oversight because many of such promised tokens are still running on price swings. Many have just ended up as whitepaper promises. In short, this is something many are saying even the likes of Bitcoin is yet to meet up.
I could remember a friend telling me about a book he read that was titled, ‘where there is money, there is problem’. If you want to see how wild humans can go, do well to introduce a monetary backend.
These tactics have been a big bait that has been deployed over and over again. The idea that money answers ALL things has made slaves out of many. I hope you know that that ‘self greed satisfying quote’ is a big misinterpretation and a lie too. Money remains a means to an end. If actually it were to be that everything answer as assumed, many wealthy individuals would have snubbed the grave.
Ok, let's head back to the main topic. So, what is utility in this context? It can be difficult to satisfy this definition because what is assumed is more of a ‘should have been’. What am I saying here? The definition does not matter much here because a different standard has been set and many are pondering upon that.
Just buy, hold and wait for a good time to exit the market? I guess to someone, this may mean utility.
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This has hampered the growth of the cryptoverse. In short, this has been the reason the decentralized ecosystem has been in a sluggish pace giving the old timers some hedge to meet up.
Talking of meeting up, it seems what we were expecting from the Next Internet experience is being fully pursued by the former.
Real world asset is something that has raised many eyebrows. We long to see it surface on a broader scale, only a pity if I should say because most of its activities will be centralized. My concern is what it carries; true utility. Maybe this is just me assuming again because it could be pegged to another price swing business.
The future of blockchain tech when attributing to financial transactions (cryptocurrencies) will be best functional in stabilities. How awkward does it look, in the morning an asset was selling at $100 and in the evening there is a 20% price slash to $80; much of a child's play if we will admit. This is why many are beginning to side with stablecoins.
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Maybe, just maybe, the problem of liquidity needs to be properly addressed. What will make the crypto environment dense and very viscous? This is where RWA will play a huge part. I am first talking of a liquidity based utility here; when value is on-chain.
This will make investors shift focus from taking profit away to building on profit within.
Without doubt, many good ecosystems have been built with fantastic consensus mechanisms but in the absence of resource flow; utility gets very difficult to ascertain. For instance, the value of Fiats is not based on high price swings but rather, huge daily usage. How much worth of transactions are being pushed daily? How easier can it be done with cryptocurrency? Looking at both ends, crypto will have the hedge. We are talking of non-complicated borderless transactions here.
To conclude, let me add, as I earlier said, what may seem a challenge here in the era of Real World assets is that the cloned systems are appearing as the main forefronters. One can say that we are just at the surface use of this technology.
How much is the entire cryptoverse worth? How about the worth of RWA? The first is just a hand-fold figure while the latter is unquantifiable. We are talking of a readymade environment made up of products and services here.
Utility is coming, one that will go beyond assumed whitepaper promises. We are gradually evolving to an ‘everything digital’ ecosystem. This is when the best of blockchain tech will be seen. At such times, it will no longer be that wait for big candle swings, we are talking of daily economic involvements here; this is utility that beats market sentiments.
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