Beware of the Crypto-Winter

We are in another Crypto-Winter! Am I bothered??Not really. ??For our business models it makes only a little difference, and most of those are public perception issues.

Trouble is, everyone is so hung up on a minuscule number of ‘Use Cases’ that this technology is capable of delivering.?In fact only one Use Case, as far as I can see.?And that’s the storage and trading of cryptocurrencies for direct monetary gain.?Short-term profits from decentralised value.

Our business model has nothing to do with that. Our platforms run on Enterprise Grade Networks running Mission Critical Applications, straight out-of-the-box. Cryptocurrencies are just a way of paying for network transaction fees, so as far as I’m concerned, the cheaper the better ??

Sure, we use tons of Tokens every day.?The Non-Fungible and Fully-Fungible varieties.?But we’re not dabbling in buying and selling bitmaps of gorillas, we use NFTs for e.g. machinery and user-account identification. It’s cheap and efficient with very low carbon footprints all round. We use Fully-Fungible Tokens, tethered directly to local fiat currencies.?These execute complex financial transactions precisely between multiple parties, instantaneously (immutably and fully auditable). These range from buying and selling energy and carbon to international funds transfers, as well as charity donations directly on the street to the unbanked person who needs it. We do this at a fraction of the cost, time and resources compared to legacy banking institutions.

Also, as we evolve into the new reality of stopping humans from destroying Mother Earth, everything we do must measure our action’s global impacts in real-time. The measurements (or Indicators) must be tracked precisely across entire global supply chains. Those tracked Indictors (Structured Information) must adhere to quantitative global standards, such as e.g. UN’s Sustainable Development Goals (UN-SDG).?All of that is a no-brainer for our technology – the capability is straight-out-of-the-box. ?All we need is for people to widen their horizons of DLT-Blockchain Use Cases …. and not just some sort of hoarding disorder for decentralised assets.

I have lived through these Crypto-Winters before (since the beginning) and my advice is:?Don’t Panic, be Patient or ...

People behave in amazing herd-like ways sometimes.?Please remember, business powered by DLT-Blockchain Technology (Aka Web3) is a One Way Street:?Into the Future!

If you’re a geek, I would recommend looking into ways to connect this technology into hardware (or IoT),,, there’s plenty of APIs (Application Programming Interface) out there.?We do Smart Energy Meters, Solar/Wind Technology and DeFi (Decentralised Finance) systems, but it might as well be a Coke Vending Machine…the software’s all the same. Also, think about creating libraries of stuff people and computers like to do in everyday life.?For every interesting thing you imagine, create a Microservice (in your favourite contemporary programming language).?These Microservices can be orchestrated across Web3 and interoperate, OnDemand,?across numerous layers of DLT-Blockchain networks.?Imagine all those new Use Cases popping out of the woodwork. Combining Microservice Software, Structured Information and DLT-Blockchain technology is a mind-blowing experience!

In my company (www.hederacoe.com) we prefer to use Hedera Hashgraph (www.hedera.com). It’s cheap, extremely fast, very well governed and has a Zero Carbon Operational Footprint.?To boot, it provides us all the tools we need to build our business models on top of it.

All will arise from out of the ashes like the Phoenix!