Home » The vibe crypto is infusing in the mainstream has led to a shift

The vibe crypto is infusing in the mainstream has led to a shift

by Victor

Whatever your feelings are on the crypto space, I think we can all agree that the recent war and the reverberations it has sent around the entirety of Europe have been tremendous. The geopolitical conflict affected the Ukraine crypto capital as well and now, cryptocurrency investors are looking elsewhere, but how does all this affect the crypto’s future? There is a current movement in the technological sphere, with many of the younger generation pushing this shift whether they know it or not. If you take a peak at pop culture and several trends, it quickly becomes evident to whoever is looking and has knowledge about the crypto space that something is changing.

The rise of digital assets such as Bitcoin and the Ethereum network as well as cryptographic technology meant to strengthen the blockchain network is something most of us already know about and making a daily profit. The pandemic was a unique opportunity that opened the eyes of the public to the potential of crypto assets and decentralized finance. It might be hard to understand what some of us familiar with the crypto space are perceiving, but it is there. A feeling or vibe is in the air and we can sense where it is leading; a reposition is on the way.

This isn’t the first time a crypto shift has occurred as we all remember the rise of Bitcoin several years ago. With Bitcoin came the introduction of the blockchain network  and in time, Bitcoin’s transition from a P2P platform to a form of value which can be stored and sold at a market price caused it to explode further. After that, Ethereum’s introduction happened and it changed decentralized finance forever. Now, with the implementation of smart contracts, development of apps in the crypto space changed the path of crypto’s future. DeFi’s expansion had begun and kept going strong. Most recently, nonfungible tokens have entered the fray and were the latest cryptocurrency shift in the market. Now, being who made or wanted to sell art, music, and other collectibles could do so seamlessly.

I’m not here to convince you that all these happenings are innately great or awful in the grand scheme of things, but merely laying out the reality. Transactions on exchanges like https://redot.com lead to exposure and growth of crypto assets, and development of new ways to improve the blockchain leads to more new ways for people to earn. This, in turn, affects how the wind blows with regards to the culture and trend of the society of the time. That nonfungible tokens as an example; it only blew as the new wind thanks to the advancement of its preceding paradigm shift, Ethereum, and how the platform was able to utilize smart contracts.

After a while, of course, the technology used to create such innovation will attain a level of acceptance and workability that will turn it from a shift to a mainstay in society as occurred with cryptocurrency and decentralized finance. The way we view crypto these days is more positive than it used to be and that is due to the way we now perceive the platform and tech backing it as opposed to before. Investors are thinking big on how to make crypto even larger and more effective in making our daily lives easier.

A very recent instance of why the next, big crypto shift is on its way is what happened to the truckers in Canada who stood up to their Govt over what they deemed were extreme vaccine mandates. We’re not here to talk politics about which side was right or wrong but the reason this instance is brought up is to show you how easy it was for the Govt to freeze the bank accounts and even supposedly neutral platforms like GoFundMe took the money raised for them. What did the ruckers do? They went to the crypto space and raised close to a million dollars for their cause in just a couple of days.

But this wasn’t the end, as a judge actually ordered the freezing of millions of dollars in digital assets to the truckers. This was where the cryptocurrency community became involved as most people were enraged, perplexed, or both. The protest from the crypto space became so loud that a Nunchuck, a blockchain wallet developer company, had to address this matter publicly. They informed the public that they weren’t really in a position to take people’s crypto assets. What this really elucidated to the public was that there existed a real chance that our Govt could, at any time, seize our hard-earned assets.

The Govt overreach doesn’t stop in Canada, however, as in Ukraine at the early stages of Russia’s invasion of the nation, the Govt asked for Bitcoin donations to help them in this war while also requesting that Russian wallets be frozen. As expected, the vast majority of these crypto exchanges that were asked to that declined, stating that it was unfair to blame ordinary crypto enthusiasts in Russia – some of whom support Ukraine – to pay the price for the actions of a few with power at the top.

What do these scenarios say about crypto’s future? It says that cryptography is now a full part of society but until recent events, the world had not really fully come to terms with the potential of the crypto space. The archaic way of viewing finance and the world is falling and a new age of decentralization is rapidly taking over. From here on out, we can only speculate where this new hunch will take us, but we can see the impact it could have on many people’s lives and how it could change the situation in warring nations and people vs their Govt.

Despite our own personal feelings on cryptocurrency, we must accept that the stakes with crypto space are higher than ever. When you realize that a trucker’s ability to feed his family is dependent on this decentralized finance ecosystem that you only saw as an alternative means to engage in transactions free of Govt oversight, you begin to witness the real-life implications of this new wave. Things are now murkier than ever, with several new underlying factors that traverse countries, economies, politics, and wars. The future of crypto is far more imperative than we might have originally realized.

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