Multiple experts on where crypto goes next. Bitcoin becomes a store of value while altcoins handle payments. In 5 to 10 years, expect a tokenized world where corporations and individuals issue their own tokens for borderless, cashless exchange.
One of the key properties of the decentralized technologies, as I see it, is persistence. So it's basically persistence of the ecosystem to grow. If you think of Bitcoin, it's growth not in terms of price but in terms of ecosystem. It's non stoppable because of the incentivization mechanism that's embedded in Bitcoin as in different cryptocurrencies. So this persistence and kind of non stoppable nature means that we will have multi currency world and we will need to deal with it in some way. I don't know what it's going to mean, I don't know what, what it's going to mean for monetary policies or fiscal policies, like how governments are going to deal with it, but it's going to be there, Fiat is going to be there and some sort of intersection of those two is going to be there. So we need to figure that out.
So I've always seen bitcoin as kind of a Swiss army knife in some ways that it should have multiple purposes. It should be a store of value, but it should be a payment mechanism as well. Right now it seems to be falling more into the store of value camp. I would like it to be expanded to allow for payments. Back in the day I was able to send or show people how easy it was to use Bitcoin by just giving them a millibit which was worth about 10 cents back then. Now it's worth about $10. So things have changed quite a bit. Unfortunately the transaction fee has also shot up with that. So I'm no longer able to be an evangelist for Bitcoin. What it's forced me to do is to look at other alt currencies, for example Ethereum. So I can now do that with Ethereum and these great wallets like Jax that have multiple currencies available on them. I can easily switch between each of these tokens as well.
Yeah.
So I believe in a world where everybody will have cryptocurrency, some of the top 10 market caps and also a token or a cryptocurrency that they believe in, that they participated in, that they were part of the ico. And I'm a big believer with anybody who has a smartphone will be able and has a wallet, they'll be able to exchange value and that will be crypto. I don't think that Fiat will go away, at least for the short term. But in the long term everything's going to be cashless. Right. And everything's going to be borderless. And the Best way to enjoy and also use value or send value is through cryptocurrencies. I'm a big believer in that.
I see like if we can I imagine the world like in 10 years or in five years. I think like in five years there'll be no, no startups without token economy because token economy helps a lot like to do just like the, to bring a value. If you ask me about the world in 10 years, I see like we'll have 2 million cryptocurrencies for each company and individual. So you like as a professional filming someone, you'll issue your tokens equal one hour of your working day. And when you hire like employees, your token will grow in price because the liquidity of the token will actually change. Like, so I can basically buy two hours of your time easily if you like alone. It's not that easy for companies. It will change the stock market because stock market currently shows the expectations. And if you like Coca Cola will issue one Coca Cola token equal to like half a liter of Coca Cola. That means they can basically have a free money based on what they do now, not what they'll do like tomorrow or day after tomorrow. And so I truly believe that we'll ended up with a, let's say barter on steroids. So you'll like in 10 years you'll have electric wallets with 10,000 currencies in that. And then you say okay, I don't understand how much money I own. And your wallet says, okay, it's like five Teslas or that amount of bananas. So basically people will always convert those kind of thousands of different currencies into the things they understand. Probably Bitcoin will be like a gold standard, no one knows. But I truly believe there will be thousands, if not millions of different currencies and doing a business without tokenizing it will be obsolete.
