Fragile Financial System
- In 2008, a world-wide economic crisis broke out. Governments stepped in with extraordinary measures to prevent calamity. Quantitative easing, which was widely adopted, rapidly inflated global asset bubbles to unprecedented levels.
Bitcoin and Ethereum
- In 2009, the Bitcoin White Paper made two great achievements: the Bitcoin, and the blockchain. In 2013, the Ethereum White Paper was released, integrating smart contract systems. Then there comes a heady mix of innovation, chaos, and financial risk.
- The adoption of both BTC and ETH has raised numerous technical challenges. Various decentralized applications are being tackled by developers and entrepreneurs. This has resulted in a speculative frenzy and asset bubble.
Edge of Plateau
- Blockchain technology will act as a new mediation layer and more effectively align needs and development. This vision is put at risk by the misbehavior and manipulation of bad actors. We stand on the edge of a plateau.