Crypto has gotten a bad rap with people. Strangely, the biggest issue seems to be that people don’t trust crypto in general, which is outright strange given that trust was supposed to be the ‘main thing’ about blockchain.
Sometimes too good is not good at all. Billions have flown in crypto during the ICO heyday, but to what use? Flawed business models have been built on a pre-mature technology. Arguably, this all but hurt blockchain.
Question: has crypto been an overtly complex plan by techies to loot the poor?
Anytime people come up with a new use case for blockchain, it is burdened by the negative reputation. Security tokens, for one, have had a hard time to not look like a last ditch effort to raise money by those who failed during the ICO bubble.
Not fair? Security tokens are a digital representation of investments like stocks and bonds. Unlike traditional financial instruments, security tokens can be pre-programmed to ‘automate away’ many functions that are currently undertaken by institutionalized middlemen. I have covered this subject in much more detail in Journal 120, but in essence: whenever someone buys a stock, in order for the transaction to take place, a convoluted network of custodians, brokers, clearing houses and central depositaries goes to work to record and execute the transaction. And…
