Something has been bothering me about the crypto space lately. I see often statements like, "Yeah cool, but will they use the token for that?"
It just shows that people forget to ask the simplest question.
Why?
Why should they?
Whats the point?
It just shows that people forget to ask the simplest question.
Why?
Why should they?
Whats the point?
With most crypto projects, the token use cases are so amorphous that the "Why" is almost nonexistent, outside of, it makes a few people a lot of money. You inevitably get to a point where the answer is, "for payments!"
But payments for what?
But payments for what?
Reprogramming the financial sector is great, I will not negate that. The efficiency increases, the transparency and accountability that can come into play create massive unforseen impacts at scale, if solutions ever scale to the level to accomplish that.
But there can be more.
But there can be more.
Smart contracts are a start to showing what "more" looks like. They enable programming of distinct services. Their potential is nowhere near being realized, because the barriers to their growth are almost insurmountable. Currently, they're mostly still focused on financial uses.
But to feed smart contracts to do more outside of financial use cases, and enable true peer to peer services to scale, they need so many inputs that existing smart contract frameworks don't allow for. You can force them to some extent, but then there's sacrifice.
The sacrifice is either the contracts become too expensive due to fees. The networks that support them becoming to congested. The data feeding them being untrusted and manipulated. Or they have to be done in a private/ permissioned network. None of which fulfill their potential.
Projects have to zoom out. Look at it from a more granular and holistic perspective, and figure out innovative mechanisms to better the current capabilities to accomplish what's really possible. And it all comes down to data in the end.
If the data is granular, secure from the source, easily accessible, shareable and verifiable, and starts to have standardized structures for easy integrations, then the solutions become endless.
Real peer to peer services using secure decentralized systems become possible. Real reduction of third parties to an absolute minimum. Real trust becomes enabled for peer to peer interactions. Real utility for everyone, even in developing nations.
Get the data right. Get the structures right. Build the necessary components to enable verifiability in any scenario. Build smart contracts that are usable outside of financial use cases or in niche scenarios. And the token has a reason for being there.
It becomes more than an investment. Had real demand because there are things it can actually be used for. Allows for real solutions that solve real problems to flourish. And doesn't create more barriers and enrich only the few.
This is what crypto is supposed to do. The vision of what it could actually accomplish if we focus on the big picture. And its the road to real adoption. Its what gets corporates actually excited to build on a protocol. And not just there for small projects to dip their toes in.
Sorry for the rant, but if someone is asking will the token be used, then tell them to look at the bigger picture. Because when this is done right, entirely new industries are formed, business evolve, and the ability for an individual to truly change their lives becomes real.
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