Cryptocurrency: The Rapidly Changing Times
Over the last 18 months, things changed a great deal in the world. As much as many are discussing "going back to normal", it will never happen. We are now witnessing what was lurking below the surface. Now that it is in the open, it is game on.
This is leaving many people perplexed. Most are accustomed to things changing at an acceptable rate, something that was completely uprooted during the past year and a half.
Much of this was due to COVID and the resulting lockdowns. However, this was only possible because of what was lurking below for so many years. Once the veneer of normalcy was removed, the power of technology started to be unleashed.
Work From Home
This is a big topic for a couple of different reasons.
To start, the normal mindset does not understand what is taking place. We see this at the CEO level of major corporations. During the pandemic, they promoted the idea of "a new normal". Yet, once things settled down a bit and were reopened, they wanted to return to the "old normal".
Naturally, this caught many employees off guard. They believed the mantra that "we are all in this together". Sadly, most come to find out that was not the case. It only applied when the companies needed that from their workers. Once the situation could go back to what it was before, that is what was pushed.
An article on CNBC titled CEOs are at their wits’ end — they don’t know how to get their employees back in really shows how these CEOs are missing the point.
It explains how they view the push due to the fears associated with COVID. While that is a part of it, the major mindset is people are tired of the working conditions. After more than a year away, they took a look at their priorities and driving into the office each days isn't on the list.
There is another piece to this puzzle. The situation due to COVID revealed the fact that technology is offering a way to completely restructure things. What society took for granted is now being questioned by millions. Even though CEOs are perplexed, the working public is starting to embrace what technology is offering.
This is what happens. It is often a slow build to a sudden change. Video conferencing and remote connection to ECMs have been around for more than a decade. Yet, it was only embraced on a large scale the last 18 months. Now, many people find out they like it.
Here we see a single technology, video conferencing, disrupting the make up of a large portion of society. What is brewing is even more powerful.
The Technology of Cryptocurrency
Most look at cryptocurrency as a financial asset. It certainly does serve that purpose yet that does not encompass it all. Instead, it is best to look at it like a technology.
Here we are looking at one of the most powerful things we saw in the last few decades. In terms of a societal impact, this ranks up there with the smartphone. We are aware of how the mobile revolution really changed the world.
The key factor here is that cryptocurrency is going to alter almost every industry. Nothing will be left unaffected. The present state of cryptocurrency progress, from a technological standpoint, is still in its infancy. People have not truly started to experiment with this technology to see what is really possible.
In other words, we are still at version 1.0 (maybe 1.1). There are going to be a lot more updates adding completely new features. Innovation is happening on a global scale. When looking at this through the lens of technology, it is easy to see how we are likely to see a great deal of progress 5 years from now. Whatever we are utilizing, will have much greater impact as compared to today.
A technology of this magnitude is adopted at a greater rate than most consider. Whereas video conferencing was avoided for many years, mobile communications were embraced almost immediately. The transition to the smartphone, in the developed countries, took very little time. That is because the offering to society was so great.
Cryptocurrency is doing the same thing. People are quickly realizing how much of an impact cryptocurrency is having on their life. We know the numbers are small at the moment yet we see the pathway to mass adoption unfolding. With cryptocurrency, it is easy to "back door" people.
One of the biggest gateways will be gaming. We see how the #play2earn concept is going to pick up steam. This is a way for people to get involved in cryptocurrency without actually being attracted for that. It is the games that hold the greater part of the appeal. What comes in the form of in-game tokens and NFTs is really just additional.
Yet it is a vital factor since it gets people into the ecosystem. From there, the entire transformation can begin.
An Explosive Quarter
While the development is the key to focus upon, there are the market conditions that can have a serious impact.
Many are expecting the present quarter to be explosive in terms of pricing action. There are forecasts out there claiming we could see a magic run as major players are about to pour in.
We will have to see how it all pans out since forecasts can be wildly wrong. However, if it does come into being, millions will experience life changing money. This is certain to garner the attention of the general public. When those we know see their financial lives changed in such a short period of time, it is truly magical.
An event like this would serve as the feeder system to greater growth. Naturally, the resources would be available for even more development. At the same time, the attraction would expand as others would see what is taking place and want to join in.
One single quarter like that could advance the entire industry to the point where it is sped up by a number of years. It would completely change the trajectory of where things are going. The exponential curve would bounce higher entering 2022.
Will this take place? We will know in about 90 days. What we do know is that there are going to be times over the next few years that do provide the boost to the industry. There is simply too much taking place on a global scale.
The is causing rapid change even if most people are completely unaware of it.
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