I have never been more excited about Ethereum than now, here is why

The big drop in USD value of ETH has made a lot of you very critical toward Ethereum and its development. The truth is that behind the scene some incredible things are happening and paving the way for Ethereum becoming the operating system of the world but you some of you can't see that so I'll try to explain my vision:

Ethereum is starting to replace Banks by allowing users to receive loans from the Blockchain

I recently used for the first time MakerDAO’s CDP system that lets you « loan yourself » a certain amount of DAI (= 1 USD) according to the amount of ETH you are willing to use as a collateral.

For the first time in modern finance we are able to loan ourselves money based on our assets at an interesting rate (2.5%) without having to use a central entity like a bank. Basically you receive your ETH back when you return the DAI loaned and if the value of ETH climbs you might never have to reimburse the DAI loaned.

This has huge implications and it also means that Ethereum users can receive money from holding their ETH without having to sell it. They can also leverage their ETH position by acquiring more ETH with the DAI received from the loan and lock it again in the CDP to decrease the risk of reaching the liquidation price.

Incentives to hold DAIs (an Ethereum based USD) will create a wave of new money joining the Ethereum Network

This is a game changer. Maker recently announced the Dai Saving Rate system allowing DAI owners to lock their DAI in a DSR contract and receive a 2% annual interest in return without having to pay any fees.

In my country, the interest on the money I have in my bank account is around 0.7% which means that people will soon have greater incentives to turn their savings into DAI and lock it in a DSR rather than keeping it in their bank account. This has huge implications for the Ethereum Blockchain has it could trigger a massive amount of new money joining the Ethereum Blockchain to benefit from this annual interest.

I’ve always seen crypto debit cards like Monaco (now crypto.com), Wirex or TENx as a bad thing for the market since it simply meant selling your crypto at market rate to use FIAT to pay for things. But I now see them as a great bridge between the crypto and FIAT system as it could give us the opportunity to simply spend our DAIs received by a CDP loan or by the interest from the Dai Saving Rate system.

Plasma is coming

OmiseGo has been very quietly moving forward with Plasma development (they released their first test net during Devcon) and its global DEX integrating FIAT gateway will arrive at some point and make the transition between FIAT and crypto much more straightforward.

Some other projects that I like

Millions of people are using the Brave browser and will be at some point exposed to BAT (an Ethereum token). 3d artists are using the Ethereum Blockchain through Golem to render 3d designs. dYdX lets you do margin trading in a fully decentralized way by purchasing some Long or Short Tokens, I just acquired some Leveraged Tokens on expo (based on dYdX) and I'm amazed...

While a lot of you are complaining about crypto prices going down, I see thousands of developers quietly developing the different pieces of a puzzle that will soon be complete.

If you believe in decentralization, don’t give up, be patient and spread the word about great crypto projects instead of just talking about the price with your friends. We are participating in a unique adventure and I’m proud of that.