Many pundits and a few clients are settling back away from cryptocurrency. Ha-ha, they say, Another scam has gone bad. Except that this situation is MUCH more like the third phase of the Gartner Hype Circle, called the “Trough of Disillusionment.” Here the subject innovation has declined slightly, the strong hands come it to fix it, and the re-directed growth becomes a fatter tail.
Further supporting my claim of continued innovation, the accompanying blockchain technology is the backbone of other innovation. The crypto “securities” (see the SEC), provide an incentive for risky but hyper-functional and secure collection and storage of data. Much of this data will improve your life (think health). You think the hack reports are the crypto death knell? Not likely. The strong hands just wanted the riff-raff to get discouraged.
Stay tuned here—more to come.
Brave New World Dept. Not long ago, I was in Montreal for a cryptocurrency conference. My hotel, on the top floor of a big building downtown, had a roof garden with a koi pond.