RE: Blockonomics: real world value in a virtual environment
Excellent post regarding some important facts and trends. And I love the term "blockonomics." (Did you coin it?)
I particularly liked your reference to the utter failure of the euro to bring prosperity to the EU, or at least to bring an equitable share of prosperity to many eurozone members.
The most astute observers point out that separate economies require separate currencies in order to interact efficiently with them. In fact, the "natural" currency fluctuations are an essential mechanism of international trade and commerce. Without that mechanism, we get ... well, Europe, circa 2018.
With the sudden increase in the number of cryptocurrencies over the past few years, a similar question arose (as you implied in your phrase "a singular currency to run every market.") And just like many others, I wondered if it's viable to have hundreds of cryptos.
As you further state / imply, it can be beneficial to have numerous cryptos. Many will not necessarily be "competing," but fulfilling their own purpose and answering the needs of those who use them.
May a hundred blockchains bloom, and a thousand cryptos contend.
Wow I really appreciate the depth of your comment. Sorry I'm just seeing it, haven't logged on in a couple days. I haven't really seen 'blockonomics' used anywhere but I'm sure it's been used before me.
It's crazy to me to think about the complexities of a barter system vs our current monetary system. But in terms of crypto the value relationship between various asset can be so easily codified and handled programmatically.
I think currencies being designed around the economic functions they intend to serve will be a large part of crypto as we move forward.
Here's to hoping for more and more efficient economies!
-Mason