Is it Winter? No, a thaw is upon us!
Is it Winter?: No, a thaw is upon us!
TL:dr
1/ Bad News
2/ Good News
1.a.
Unstable Tech
Ethereum has yet to upgrade to reduce transaction fees, which famously spiked to over $1000 during a recent token sale. Solana fell down when subjected to a co-ordinated Bot attack. Terra Luna’s stable token, UST, appears to have been gamed, resulting in a huge sell-off within the Cosmos ecosystem, which has resonated across the broader crypto ecosystem.
1.b
Macro Factors
Combined with Macro Factors, the above has turned thin ice into cracked ice.
1.c
NFTs, Copyright, Anonymity & Accountability
The anarchic-libertarian roots of crypto are clashing with established practice in the commercial world. A failure to bake copyright compliance into NFTs combined with anonymity has made honest failures indistinguishable from dishonest cash grabs. This has produced a massive trust issue.
1.d
Interoperability between different chains is looking like an unachievable pipe dream. We never wanted "one chain to rule them all", but in the absence of a stable leader all contenders are struggling to maintain their value.
2.a
Blockchain adoption by global businesses is progressing
AmerisourceBergen, #8 of the Fortune 500 companies, has partnered with Chronicled Inc, a blockchain company providing supply chain solutions to the pharmaceutical industry. Established in 2014, Chronicled began building the MediLedger in 2017 and has established
partnerships with McKesson, Pfizer, Amgen, Gilead, CardinalHealth, Genetech, Bayer, FFF Enterprises and Premier.
2.b
Bitcoin still works.
Conclusion
The first chain to work harmoniously with Bitcoin will set a new Alpha Standard.