Most people have come to associate cryptocurrencies with speculation. Many just don’t know that blockchain technology has the power to change society as we know it today, and for the better. Take social media for instance. Social media platforms have become so powerful that they have the power to censure what content is seen, or advertised through their platforms, and there is nothing that users can do about it. They also have power over your privacy since they control all user data, and user skepticism towards this unfettered power is growing, and blockchain is offering solutions.
Take twitter for example. Yesterday, there was a mass exodus of bitcoin (BTC) investors from Twitter to a decentralized platform called Mastodon. Within a few short hours, a huge number of users had shifted to a Mastodon instance (section of the platform) called Mastodon Social, which now has close to 200k users. That’s a massive number and signals to the fact that people are increasingly getting tired of being censored by the big social media players. It also shows that people are willing to adopt blockchain technology as a tool for taking back their freedom.
The thing with social media is that information spreads fast and if word about platforms like Mastodon goes viral, it could mark the end of centralized social media platforms. It could mean that within a few short months, not years, social media platforms that are extremely popular today could easily be obsolete. Once that happens, the masses will realize that blockchain technology is not just a buzz word, it is a technology that is ushering in a new world, a world where centralized systems are no longer needed.
A few years ago, the sharing economy proved that centuries old industries could be disrupted, with simple applications like Air BnB and Uber turning the hospitality and the taxi hailing industries upside-down. Blockchain is bringing in an even bigger revolution. Very soon, you might not need a bank, and could be in full control of whatever information you generate over the internet. You will be in a position to monetize that information and make money off it. Simply put, the world is about to experience an unprecedented growth in wealth for the masses, in a way never seen in history.
Therefore, whatever cypto project you are involved in, think of it as a tool that is about to change society. Once you internalize this fact, then you will realize that short-term price fluctuations are nothing compared to what’s coming. You could be holding a crypto that is about to end banking as we know it today, or any other industry out there. Also remember that once it starts happening, things will move so fast, that your wealth could grow almost overnight. The twitter exodus to Mastodon has already proven that change is coming, and it will be drastic. No wonder governments are unsure of how to handle the tide, as seen with the bitcoin ETF delays and rejections. Maybe the coming disruption is just so big that is somewhat frightening. Things like a decentralized global currency could make governments powerless.